Following the political and institutional fallout triggered by a video circulating online since yesterday, pharmaceutical company Remedica has issued an official statement addressing references made to LetterOne and firmly rejecting any connection to political donations. The company also sought to clarify LetterOne’s status in relation to international sanctions.
Against the backdrop of the controversial video circulating in the media and on social platforms, prompting strong political reactions in Cyprus, Remedica has moved to clarify its position after references in the footage appeared to involve the owner of LetterOne.
In its statement, Remedica sought to clarify both LetterOne’s status with regard to international sanctions and the issue of political donations, which has moved to the centre of public debate following the release of the video. The company also underlined its separation from individuals subject to sanctions and addressed a specific financial contribution made to the Republic of Cyprus, stressing that it was linked exclusively to support for victims of last year’s devastating wildfires.
Full statement
Remedica said it had taken note of a video circulating in the media referring to the owner of LetterOne and wished to make two clarifications.
First, it stated that LetterOne is not subject to sanctions and is fully separated from shareholders who are under sanctions. The shareholdings of those individuals are frozen, they exercise no influence over LetterOne and derive no benefit from it, and LetterOne does not represent them nor act on their behalf.
Second, Remedica stressed that neither LetterOne nor Remedica has made any political donations for the benefit of Nikos Christodoulides.
The statement added that LetterOne responded to a public appeal by the Republic of Cyprus to support those affected by last year’s destructive wildfires, which also impacted members of Remedica’s staff. In July 2025, LetterOne donated €75,000 to the Republic of Cyprus’ official Wildfire Support Account. According to the company, the donation is fully documented with the relevant records.
Remedica concluded that the contribution was humanitarian in nature and should not be linked in any way to political funding or influence.