Novartis acknowledges Cohen payments

Novartis AG (NYSE:NVS; SIX:NOVN) Wednesday acknowledged making payments to a consultancy owned by Michael Cohen, a lawyer employed by President Donald Trump. The company said it paid $1.2 million over a one-year period to Cohen’s company, Essential Consultants LLC.

In February 2017, Novartis retained Cohen to provide advice about the Trump administration’s healthcare policies, according to a statement provided by Novartis. The pharma determined at its first meeting with Cohen that he was unable to provide relevant advice, but was contractually obligated to make monthly payments for a year, the statement said. ...