Politics Novartis ditches lawyer as head rolls over Trump lawyer deal

10:21  16 may  2018
10:21  16 may  2018 Source:   reuters.com

Novartis CEO: 'We Made a Mistake' in Agreement With Trump Lawyer

  Novartis CEO: 'We Made a Mistake' in Agreement With Trump Lawyer Novartis AG Chief Executive Officer Vas Narasimhan said the Swiss drugmaker “made a mistake” in signing up lawyer Michael Cohen to give the company insight on President Donald Trump’s health-care plans. “Yesterday was not a good day for Novartis,” Narasimhan wrote to employees Thursday in a letter reviewed by Bloomberg News. A day earlier, the drug company said it had paid $1.2 million to a firm led by Cohen, who is at the center of a U.S. law enforcement probe, as well as a civil lawsuit related to payments to an exotic dancer.

AT&T (T) has confirmed that it paid President Donald Trump ’s lawyer Michael Cohen 0,000 for 1 after serving as chief medial officer and global head of drug development. In his report, Avenatti said that Trump “took a dinner with the incoming CEO of Novartis before Mr. Trump ’s speech at the

Novartis CEO tells employees 'we made a mistake' in making deal with Trump lawyer Michael Cohen. The CEO sent the email after Novartis said it had paid the company of President Trump 's lawyer .2 million.

a man standing in front of a building: U.S. President Donald Trump's personal lawyer Michael Cohen arrives at his hotel in New York© REUTERS/Brendan McDermid U.S. President Donald Trump's personal lawyer Michael Cohen arrives at his hotel in New York Novartis (NOVN.S) General Counsel Felix Ehrat will leave the Swiss drugmaker over his role in a $1.2 million contract it struck with the lawyer for U.S. President Donald Trump, saying on Wednesday the pact was legal but an error.

The $100,000-per-month contract with Trump attorney Michael Cohen's Essential Consultants, the same firm used to pay porn star Stormy Daniels $130,000 to hush up an alleged affair with Trump, has distracted Novartis's efforts to improve its image after a series of bribery scandals.

Top Novartis lawyer steps down over payments to Trump lawyer

  Top Novartis lawyer steps down over payments to Trump lawyer Top legal expert apologizes for payments made by the firm to Donald Trump's personal lawyer Michael Cohen . The announcement comes after Novartis was dragged into the scandal over Cohen's payment of $130,000 to adult film actress Stormy Daniels just days before the 2016 presidential election.Mr. Trump has denied having an affair with Daniels or knowing anything about that payment but his new lawyer Rudy Giuliani has acknowledged the U.S. president had in fact reimbursed Cohen for the payoff.

A subsidiary of Novartis — which makes Ritalin, Lamisil and different well-known medicine — paid Trump lawyer Michael Cohen nearly 0,000 from late 2017 to early 2018 as a part of a one-year settlement firm officers stated expired in February.

Novartis CEO Vasant Narasimhan told employees in an internal memo Thursday that “yesterday was not a good day” for the company, after the pharmaceutical giant revealed that it paid .2 million to President Donald Trump ’s personal lawyer , Michael Cohen.

Trump has denied the affair. Novartis ended the contract this year.

U.S. lawmakers have demanded Novartis as well as AT&T (T.N), which also made payments to Cohen's firm, provide details about their contracts. Ron Wyden, top Democrat on the Senate Finance Committee, has called the transactions part of a "pay-to-play scheme" and initiated an investigation.

In a company statement ahead of an investor day on Wednesday, Ehrat acknowledged he signed the contract along with former Novartis Chief Executive Joe Jimenez, who stepped down on Feb. 1 and was replaced by Vas Narasimhan.

"Although the contract was legally in order, it was an error," Ehrat said. "As a co-signatory with our former CEO, I take personal responsibility to bring the public debate on this matter to an end."

Companies scramble to explain ties to Cohen-linked firm

  Companies scramble to explain ties to Cohen-linked firm “Mr. Trump and Mr. Cohen have a lot of explaining to do.” They’re not the only ones.Tweeting those words Tuesday evening, lawyer Michael Avenatti touched off a scramble in companies from South Korea to Switzerland to explain how they came to deposit money in the account of Donald Trump’s lawyer and longtime fixer Michael Cohen.The self-styled dossier released by Avenatti, who represents porn actress Stormy Daniels in litigation against Trump, introduced wide-ranging allegations of suspicious transactions running through an account that Cohen opened just before the 2016 presidential election.

(Brendan McDermid/Reuters) Particular counsel Robert S. Mueller III’s staff sought info final November from Novartis , a serious pharmaceutical firm that paid an organization created by President Trump ’s lawyer , th

Technology. More in Life Hacks. Best Deals .

a sign on the side of a building: FILE PHOTO: Swiss drugmaker Novartis' logo is seen in Stein© REUTERS/Arnd Wiegmann/File Photo FILE PHOTO: Swiss drugmaker Novartis' logo is seen in Stein Novartis has sought to distance Narasimhan from the contract, saying he had nothing to do with it.

"We also have made mistakes recently and the world rightly expects more from a leading healthcare company," Narasimhan said in a separate release for the investor day. "Our new executive team and I have a deep commitment to ensure we always operate with the highest integrity and sound judgment and will work hard to rebuild lasting trust with society."

Since 2015, Novartis has paid out hundreds of millions in settlements and fines as a result of kickback allegations in South Korea, the United States and China and faces an investigation of alleged bribery in Greece. A trial for another bribery case has been scheduled for 2019 in the United States.

Novartis shareholders have urged Narasimhan and other executives to exert more "moral influence" over perceived ethical shortcomings that Jimenez in 2016 blamed on a "results-oriented" sales culture and some bad actors.

Narasimhan elevated Chief Ethics Officer Shannon Klinger to the executive committee this year as he made cultural change a priority.

Klinger will replace Ehrat as general counsel, Novartis said on Wednesday.

(Reporting by John Miller; Editing by Michael Shields)

Novartis official: Michael Cohen was 'promising access' after Trump election .
<p>President Donald Trump's personal lawyer, Michael Cohen, contacted the drug giant Novartis after the 2016 election "promising access" to the new administration, and Special Counsel Robert Mueller later requested information from the company about the offer, a senior official inside Novartis told NBC News on Wednesday.</p>"He [Cohen] contacted us after the new administration was in place," the official said. "He was promising access to the new administration.

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