Philips shares fall 7% after U.S. drug regulator deals fresh blow to sleep device recall
Publishing timestamp: 2023-10-06 11:41:09
Summary
The U.S. Food and Drug Administration (FDA) has stated that it does not believe Philips' testing and analysis of recalled devices are adequate to evaluate the risks posed to users. This announcement has caused shares of Philips to fall, reflecting another blow to the company over the recall of millions of ventilators. Philips has responded by stating that the health and well-being of patients is their first priority and they will provide replacement devices and carry out additional testing as requested by the FDA.
Sentiment: NEGATIVE
Tickers: PHG,
Keywords: koninklijke philips nv, business news, health care industry,