GET Stock QuotesNews18 APP
News18 English
»
1-min read

Novartis Lawyer Steps Down Over Trump Lawyer Payment

Trump has denied having an affair with Daniels or knowing anything about that payment but his new lawyer Rudy Giuliani has acknowledged the US president had in fact reimbursed Cohen for the payoff.

AFP

Updated:May 16, 2018, 1:54 PM IST
facebookTwittergoogleskypewhatsapp
Novartis Lawyer Steps Down Over Trump Lawyer Payment
Logo of Swiss drugmaker Novartis is seen at its branch in Schweizerhalle near Basel, Switzerland, March 29, 2018. REUTERS/Arnd Wiegmann
Loading...
Zurich, Switzerland: Swiss pharmaceutical giant Novartis on Wednesday announced the retirement of its top legal expert, as he apologised in a statement 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 US porn actress Stormy Daniels just days before the 2016 presidential election.

Trump has denied having an affair with Daniels or knowing anything about that payment but his new lawyer Rudy Giuliani has acknowledged the US president had in fact reimbursed Cohen for the payoff.

Last week, Daniels' lawyer Michael Avenatti wrote on Twitter that Novartis and US telecoms giant AT&T had used the services of Cohen's firm Essential Consultants -- the same company used to make the payment to Daniels.

On May 9, Novartis said it signed a one-year contract for $100,000 a month with the firm in February 2017, seeking advice on the new administration's public health policy.

On Wednesday, Novartis's general counsel Feliz R. Ehrat apologised for making the deal.

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

Ehrat will be replaced starting from June 1 by Shannon Thyme Klinger, who is currently Novartis's ethics, risk and compliance officer.

The shake-up follows a spate of trouble for the pharmaceutical behemoth in Greece, where the firm is accused of making illicit payouts to decision-makers and doctors between 2006 and 2015 to secure inflated prices for its products even though cheaper alternatives were available.

The case is under examination by the Greek and US authorities.​
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 226.50 -92.70 -29.04
Dewan Housing 350.55 -260.00 -42.58
Reliance 1,217.50 +6.75 +0.56
Axis Bank 599.20 -9.60 -1.58
Tata Steel 625.15 +3.95 +0.64
Company Price Change %Gain
Dewan Housing 351.55 -259.05 -42.43
Yes Bank 227.05 -91.45 -28.71
Maruti Suzuki 8,039.55 -167.45 -2.04
Indiabulls Hsg 1,061.90 -94.60 -8.18
Oracle Fin Serv 4,031.30 -71.85 -1.75
Top Gainers
Company Price Change %Gain
Bharti Infratel 281.20 +10.30 +3.80
BPCL 376.50 +11.45 +3.14
IOC 158.15 +4.60 +3.00
HPCL 258.00 +6.65 +2.65
Hindalco 240.40 +4.75 +2.02
Company Price Change %Gain
ONGC 180.10 +3.45 +1.95
Wipro 337.35 +4.60 +1.38
ITC 303.75 +4.10 +1.37
TCS 2,103.80 +26.90 +1.30
Asian Paints 1,303.10 +13.75 +1.07
Top Losers
Company Price Change %Gain
Yes Bank 226.50 -92.70 -29.04
Indiabulls Hsg 1,062.15 -97.10 -8.38
Bajaj Finance 2,379.40 -120.15 -4.81
Tech Mahindra 738.05 -31.90 -4.14
UPL 665.80 -26.50 -3.83
Company Price Change %Gain
Yes Bank 227.05 -91.45 -28.71
Kotak Mahindra 1,179.65 -47.35 -3.86
Adani Ports 362.00 -10.95 -2.94
IndusInd Bank 1,761.70 -42.90 -2.38
Maruti Suzuki 8,039.55 -167.45 -2.04

Live TV

Loading...
Loading...