Novartis headquarters in Basel, Switzerland.Novartis Unveils D&I-Focused Panel of 22 Firms
The Swiss pharmaceutical company will withhold 15% of billed time if firms don't comply with its diversity and inclusion requirements.
February 13, 2020 at 04:25 AM
2 minute read
Novartis International has renewed its legal panel, with 22 firms making the cut on the new roster that has a particular focus on diversity and inclusion.
The Swiss multinational pharmaceutical company has reimagined the way it will collaborate with law firms with a new "preferred firms program" which puts firms making commitments to diversity an inclusion at an advantage.
The company said in a statement that firms on the new panel must commit to a minimum of 30% of billable associate time and 20% of partner time to be provided by females, ethnically diverse, and LGBTQ+ professionals.
It added that if a firm does not meet this requirement, the company will "withhold 15% of the total amount billed over the life of that specific matter."
A total of 22 firms made it to the company's renewed legal panel.
Shannon Thyme Klinger, group general counsel of Novartis, said in a statement: "We recognize that corporate legal departments have an incredibly important role to play in ensuring that the legal profession accelerates its efforts to make meaningful progress when it comes to diversity and inclusion.
"Building on our company's public pledge to achieve pay equity and transparency by 2023, [...] the third iteration of our preferred firm program prioritized in its selection process firms with a demonstrably strong commitment to D&I and who were willing to stand by this commitment from a financial perspective as to all Novartis matters."
The firms on the new roster include:
- Alston & Bird
- Arnold & Porter
- Bird & Bird
- Brinks Gilson & Lione
- Freshfields Bruckhaus Deringer
- Gibson, Dunn & Crutcher
- Goodwin Procter
- Greenberg Traurig
- Hogan Lovells
- Kirkland & Ellis
- Latham & Watkins
- Linklaters
- Mayer Brown
- Morgan, Lewis & Bockius
- Morrison & Foerster
- Munger, Tolles & Olson
- O'Melveny & Myers
- Sullivan & Cromwell
- Troutman Sanders
- Williams & Connolly
- Wilmer Cutler Pickering Hale and Dorr
- Womble Bond Dickinson
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Law Firms Mentioned
- Mayer Brown
- Wombel Bond Dickinson
- Wilmer Cutler Pickering Hale and Dorr LLP
- Greenberg Traurig
- Gibson, Dunn & Crutcher
- Kirkland & Ellis
- Goodwin Procter
- Hogan Lovells
- Troutman Sanders
- Munger, Tolles & Olson
- Linklaters
- Latham & Watkins
- Brinks Hofer Gilson
- Morgan, Lewis & Bockius
- Freshfields Bruckhaus Deringer
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