Bayer cites 'ethical obligation' in justifying Russia business

German pharmaceutical giant Bayer has defended its remaining activities in Russia, saying that it has an "ethical obligation" to the civilian population in the country, reported dpa.

"Depriving a cancer patient in St Petersburg of vital medicines would ultimately mean nothing other than accepting the death of more civilians," chief executive Werner Baumann said at the company's online annual general meeting on Friday.

The Leverkusen-based company had already reacted to the Russian invasion of Ukraine on February 24 by stopping advertisements and investments in Russia, he noted.

"We have stopped all spending in Russia that is not directly related to our indispensable products," Baumann said, adding that the company had "an ethical obligation" to provide medicine and health-related products to the civilian population.

The economic consequences of the war and the sanctions subsequently imposed on Russia were not borne out in the company's financial results for the first quarter, the chief executive said.

"Especially in the agricultural business, we see a much more positive market environment than in previous years," he noted.