Novartis top lawyer exits over payment to Trump lawyer

Novartis CEO Vas Narasimhan

In a statement he said: "Although the contract was legally in order, it was an error".

Jimenez also had his take on where the mistake lay.

A "third party" recommended Cohen to Novartis, Jimenez said, declining to identify that person.

Ehrat, Novartis's general counsel since 2011, had been expected to leave within the next 1-1/2 years, while Jimenez stepped down on February 1 and was replaced by Vas Narasimhan.

Jimenez told Bloomberg that Cohen had "oversold his abilities" in being able to explain the then-new Trump administration's position on healthcare issues. Novartis should have done more due diligence and "definitively parted ways" with Cohen as soon as it knew he wouldn't be able to help, the former CEO said.

Novartis group general counsel Felix R. Ehrat said Wednesday that he would retire, because of the role he played in setting up the contract, saying that while the contract was legal, "it was an error". In addition to those who actually lobby the government, a person would have to register under FARA if they do any kind of public relations for a foreign client or act as a consultant on USA policy, as Cohen was hired to do.

More news: Amazon.com, Inc. (AMZN) Announces New Go Store Locations

"Shannon has a proven track record as a strong thought leader with a commitment to ethics and integrity", said Novartis CEO Vas Narasimhan.

The one-year Cohen deal started in early 2017, a year before Narasimhan took the company reins from Jimenez.

Rebuilding trust and reputation was one of five top priorities Narasimhan outlined for the company at the investor event, at a time when its count of global scandals keeps growing and some investors are urging the company to act before "corruption becomes a tradition". Novartis stock, which trades through American Depositary Receipts on the New York Stock Exchange, has moved less 1% since news of the payments broke.

Novartis previously admitted to hiring Essential in February 2017 for advice "as to how the Trump administration might approach certain US healthcare policy matters". After an investigation led by Parliament, those allegations were handed off to prosecutors there. A trial for another US kickbacks case is scheduled for 2019. The agencies are questioning current and former senior executives of the Novartis eye unit, securities filings show.

"As a co-signatory with our former CEO, I take personal responsibility to bring the public debate on this matter to an end", said Ehrat, who will officially leave June 1. "Let me be absolutely clear: I never want Novartis to achieve our financial performance or objectives because we compromised on ethical standards or our values".

Related News:



Most liked

Next Up at Amazon-Run Whole Foods: Half-Priced Halibut Steaks
Amazon has been implementing perks for its Prime members in Whole Foods since it acquired the grocery chain over the summer. The more data the company has from its customers, the more it can strategically offer deals when purchases have weakened.

Packers not expected to sign WR Dez Bryant
Still, despite remaining open to the idea of considering Bryant, the Giants have showed very little interest to date. Bryant would be a logical fit in Green Bay since the Packers released veteran wideout Jordy Nelson this offseason.

Lethal blast in Southern California medical constructing investigated as intentional
Orange County Fire Authority Chief Brian Fennessy says 10 engines and 70 firefighters were dispatched in response to a 1:09 p.m. Two of the injured people had unknown injuries, and the third person suffered smoke-inhalation, according to officials .

OnePlus 6 Official Accessories & Their Prices Appear on Twitter
The global launch event will be followed by launch events in India, which is the company's biggest market, and China on May 17. It is expected to come with dual-camera 16MP+20MP snappers with an F1.7 aperture and a fingerprint sensor below it.

Trump's Ramadan Message: Muslims Add 'Richness' to 'Religious Tapestry of American Life'
The announcement was made by the Grand Mufti of Australia, Abdul Azim Al Afifi on the council's official Facebook page. The the meal before dawn is known as Suhoor and the meal after the dusk when the fast is broken is known as Iftar .

Fallen LMPD officer receives name on National Law Enforcement Officers Memorial
Relatives of area slain officers will be in attendance along with law enforcement officers representing surrounding agencies. Here's a video posted last night on the Louisiana Law Enforcement Officers Memorial Facebook page.

Low to be 'open and honest' with Neuer on World Cup chances
However, the Bayern Munich goalkeeper will be monitored during the training camp, reports Xinhua news agency. Sandro has shown his class when with the team".

Solano prosecutor says suspected abuse of children inflicted 'for sadistic purposes'
Officers said they conducted a search of the home due to concerns for the safety and health of the child and the child's siblings. Rogers told the media that the reason the home was in disarray was because she tore up her house looking for her missing child.

Rage 2 Teaser Trailer Leaks
It seems that the Walmart Canada pre-order listing leak from last week was at least correct regarding one of the games . It seems that the only thing the Walmart Canada listing of Rage 2 did was advance Bethesda's timetable by a single day.

Second Democratic senator publicly backing Trump's Central Intelligence Agency pick
John McCain has also called on the Senate to reject Haspel for refusing to acknowledge "torture's immorality". If confirmed, she would become the first woman to lead the agency.

Nintendo Is Finally Going To Sell NES Classic Editions In Canada
The NES Classic includes 30 titles from the Nintendo Entertainment System including The Legend of Zelda , Super Mario Bros . It's actually more puzzling to imagine that Nintendo didn't have that many "NES mini" consoles made in the first place.

OnePlus 6 Price, Release Date, And Renders Leaked On Amazon
The device is one of the most anticipated smartphones of this year and was a subject of multiple leaks over the past few months. The Amazon listing also reveals that the rear camera will be 16MP+20MP on the OnePlus 6 with OIS portrait mode and slow-motion.

Marquinhos: Neymar has never spoken about leaving Paris Saint-Germain
Meanwhile, Rui Faria, Mourinho's trusted confidante and assistant, will leave United at the end of the season. But United's hopes lie with Neymar Santos senior with whom they have a working relationship.

EPL: Guardiola reveals team that will challenge Man City next season
Pep Guardiola on Sky Sports Premier League and Sky Sports Main Event from 10.15pm on Tuesday. The title race has been all over bar the shouting for some time now.

Hawaii volcano Kilauea: Explosive eruptions,
And once the lava drops below the water table, water hits rocks that are as hot as nearly 2,200 degrees and flashes into steam. The eruption of Kilauea is luring scientists to Hawaii, many of them come from the California Volcano Observatory.