Novartis - Coronavirus - Trump

3.23.20: Novartis’ Sandoz unit pledges 130 million doses of generic hydroxychloroquine

https://www.sandoz.com/news/media-releases/novartis-donation-consignment-30-million-hydroxychloroquine-tablets-ships-us

"Novartis announced today that Sandoz, its generics and biosimilars division, has started to ship a consignment of 30 million doses of hydroxychloroquine tablets to the US Department of Health and Human Services (HHS) for immediate use in controlled clinical studies. The study will evaluate the medicine’s effectiveness in people who have tested positive for COVID-19. The shipment is part of the previously announced global Novartis donation of 130 million tablets in total to be distributed across a variety of clinical trials and stakeholders internationally."

"Although there have been no clinical trials to date of hydroxychloroquine in patients who tested positive for COVID-19, there is in vitro evidence that the medicine may be effective against the virus that causes COVID-191. In support of HHS’s response to the COVID-19 public health emergency, Sandoz and HHS plan to evaluate hydroxychloroquine in the US to determine whether it could provide a potential treatment option for COVID-19 patients."

"The donation was announced a few weeks after Sandoz became the first company to commit to keeping prices stable for a basket of essential medicines that may help in the treatment of COVID-19."

https://www.thepharmaletter.com/article/novartis-and-bayer-latest-to-donate-chloroquine-for-covid-19

March 23, 2020

https://www.reuters.com/article/us-novartis-antitrust/novartis-unit-sandoz-agrees-to-pay-195-million-to-resolve-antitrust-charges-idUSKBN20P37M

"WASHINGTON (Reuters) - Novartis’ generic drugs unit Sandoz has agreed to pay $ 195 million to reach a deferred prosecution agreement aimed at resolving antitrust charges, the Justice Department said on Monday.

The company was charged with rigging bids and fixing prices of more than $ 500 million worth of generic drugs between 2013-2015, said the department, which has been probing the generic drug industry for three years."

March 2, 2020

https://www.novartis.com/our-company/board-directors

"The Novartis Board of Directors is responsible for the direction, strategy, organization and administration of the company. The Board comprises 14 members with Joerg Reinhardt as chairman."

Joerg Reinhardt, Ph.D.

Chairman

https://www.diversityinc.com/novartis-shareholders-approve-resolutions-proposed-board-directors/

"Novartis (No. 2 on the DiversityInc Top 50 Companies list) shareholders today agreed to the Board of Directors’ recommendations for all proposed resolutions at the Group’s Annual General Meeting (AGM). A total of 1,805 shareholders were present at the meeting held in Basel, representing approximately 60,6% of the issued shares of Novartis."

"Shareholders approved the 20th consecutive dividend increase per share since the creation of Novartis in 1996, with an increase of 2% to CHF 2.75 for 2016. Payment for the 2016 dividend will be made on March 6, 2017. The dividend for 2016 is an approximately 69% payout of free cash flow, reinforcing the Company’s commitment to a strong dividend yield."

https://www.whitehouse.gov/briefings-statements/remarks-president-trump-dinner-global-chief-executive-officers-davos-switzerland/

DR. REINHARDT: Good evening, Mr. President. My name is Joerg Reinhardt. I’m the chairman of Novartis. We are active in more than 100 countries in the world, but our biggest footprint is in the U.S. We have around 15,000 people in the U.S. and a number of production plants.

We made, just recently, a number of acquisitions. And we are probably one of the more innovative companies in the pharmaceutical field. And we are happy to say that gene therapy and cell therapy — two really new technologies — were first approved in the U.S., and we are happy to continue to bring real innovation to American people.

PRESIDENT TRUMP: A lot of great progress being made, I know that. Thank you very much.

DR. REINHARDT: Thank you.

PRESIDENT TRUMP: Keep those prices down, please. (Laughter.)

January 21, 2020

https://www.lexology.com/library/detail.aspx?g=1b8a7825-cc2a-4aeb-af16-4c2a07f2bba2

"Novartis ethics chief takes over as GC following Trump lawyer payments"

"Novartis has made former chief ethics, risk and compliance officer Shannon Thyme Klinger its new group general counsel after Felix Ehrat stepped down over payments between the company and Donald Trump’s lawyer Michael Cohen."

https://www.cnbc.com/2018/05/16/novartis-top-lawyer-exits-in-wake-of-trump-attorney-deal.html

"Top lawyer at Novartis exits in wake of deal with Trump attorney Michael Cohen"

"Novartis’ top lawyer Felix Ehrat is leaving the Swiss drugmaker, saying a $ 1.2 million contract he co-signed with U.S. President Donald Trump’s personal attorney was a mistake."



"Novartis ended the $ 100,000-per-month contract, signed in early 2017 by Ehrat and former Novartis Chief Executive Joe Jimenez, this year. It was part of efforts to learn more about how the Trump administration might approach U.S. health care, Novartis said."

@Ceviche