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Philips' (PHG) first-quarter results benefit from strong momentum across the Diagnosis & Treatment and Personal Health businesses. However, softness in the Connected Care business is a concern.
Koninklijke Philips (PHG) reached a $1.1 billion settlement over a US device recall for its respiratory ventilator devices, causing shares of the company to jump on Monday. The payment was originally estimated by some analysts to be more than $2 billion, putting to bed many worries from investors.
Koninklijke Philips (PHG) shares traded in the U.S. soared nearly 30% Monday morning after the Dutch medical devices giant agreed to a $1.1 billion settlement to pay out personal injury cases in the U.S. linked to the recall of some of its sleep apnea devices.
Philips Respironics announced that it agreed to pay over a billion dollars to settle claims stemming from the 2021 U.S. recall of its sleep therapy devices.
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Philips CEO Roy Jakobs comments on the company's first-quarter results and its agreement of a $1.1 billion settlement for personal injury and medical monitoring claims linked to the recall of some respiratory devices.
Dutch multinational Philips soared a remarkable 43% on Monday after settling a protracted class-action lawsuit in the US over allegedly faulty sleep apnea devices. Millions of the devices were recalled over fears that the polyester-based polyurethane foam used to reduce noise could break down and become toxic, potentially causing cancer.
The stock price of medical equipment maker Philips (NYSE: PHG) is experiencing bullish sentiments as the company strives to overcome regulatory concerns that have plagued it.
Shares of Royal Philips NV soared on Monday, after the Dutch health-technology group announced a much lower-than-expected U.S. settlement over its Respironics ventilators.