Novartis CEO Is Said to Dial Up 5000 Managers After Cohen Furor - (Bloomberg via NewsPoints Desk)

  • According to a person close to the situation, Novartis CEO Vas Narasimhan held a conference call with 5000 top managers after the drugmaker disclosed a previous relationship with President Donald Trump's personal lawyer Michael Cohen, Bloomberg reported Tuesday.

  • The source noted that discussion focused on regaining public trust and rethinking the drugmaker's relationships with consultants and lobbyists.

  • Narasimhan also plans to meet with investors later this week, while the company is conducting a review after an internal investigation revealed last November that the drugmaker committed no wrongdoing.

  • Novartis, which said the deal with Cohen's firm was forged under previous CEO Joe Jimenez, said it determined after a single meeting that the partnership would not be fruitful but that it was contractually obligated to make payments of $100 000 per month for the full 12-month term.

  • Meanwhile, US Senator Ron Wyden asked Narasimham last week to explain the drugmaker's expectations from its relationship with Cohen.

  • In addition, Senators Elizabeth Warren and Richard Blumenthal, who described the payments to Cohen as "stunningly irresponsible," have directed the company to explain how they occurred.

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