Sandoz legal costs weigh down profits

Swiss generic drugs giant Sandoz saw profits plummet by 70% in the first six months of the year as a result of huge legal costs. Profits slumped to $109 million after the company was fined around $480 million in the United States. The Rhine-based multinational had previously set aside provisions for this anticipated legal cost. The half-yearly report published on Wednesday also lists restructuring costs of $54 million, costs relating to empowerment of $47 million, costs for optimising…