May 9, 2018 / 3:47 PM / 6 months ago

BRIEF-Novartis AG says Cohen contract not linked to CEO dinner with Trump

May 9 (Reuters) - Novartis AG:

* SAYS HIRED ESSENTIAL CONSULTANTS BECAUSE BELIEVED MICHAEL COHEN COULD ADVISE ON HOW TRUMP ADMINISTRATION MIGHT APPROACH U.S. HEALTHCARE POLICY, INCLUDING AFFORDABLE CARE ACT

* SAYS THE AGREEMENT WAS FOR A TERM OF ONE YEAR, AND PAID ESSENTIAL CONSULTANTS 100,000 USD PER MONTH

* SAYS NOVARTIS HAD FIRST MEETING WITH MICHAEL COHEN IN MARCH 2017, SAYS DETERMINED AFTER MEETING THAT COHEN WOULD BE UNABLE TO PROVIDE THE SERVICES ANTICIPATED

* SAYS COHEN CONTRACT COULD ONLY BE TERMINATED FOR CAUSE, SO PAYMENTS CONTINUED TO BE MADE UNTIL THE CONTRACT EXPIRED BY ITS OWN TERMS IN FEBRUARY 2018

* SAYS CONTRACT WAS IN NO WAY RELATED TO GROUP DINNER CEO NARASIMHAN ATTENDED AT THE WORLD ECONOMIC FORUM IN DAVOS WITH PRESIDENT TRUMP Source text for Eikon: Further company coverage: (Reporting By Zurich newsroom)

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