Novartis, Vasella Cancel Non-Compete, $78M Pay Deal

Novartis, Vasella Cancel Non-Compete, $78M Pay Deal Play

Feb. 19 (Bloomberg) -- Bloomberg's Caroline Hyde reports that Novartis AG announced an agreement between its board and its outgoing chairman, Daniel Vasella, to cancel a payment of a maximum of $78 million over six years to keep him from working for rival drugmakers. She speaks on Bloomberg Television's "Countdown."

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