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

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."

Most Recent Videos

How Apple Conquered China Market: Bloomberg West (01/30)
10:55 - Jan. 30 -- Full episode of "Bloomberg West." Guests: GGV Capital's Hans Tung, Strategic Analytics' Neil Mawston, Evercore ISI's Ken Sena, CKE Restaurants CEO Andrew Puzder, Boost VC CEO Adam Draper and Zebra Technologies' Jill Stelfox.
  • Should Amazon Spin Off Its Growing Cloud Business?
  • TripAdvisor's Top Pick: Chicago's Langham Hotel
  • Dan Marino: Roger Goodell Has Done a Really Good Job