By Ian Walker Philips said it reached a final agreement with the U.S. Justice Department and Food and Drug Administration on terms of a settlement related its Respironics ventilators, and.
AMSTERDAM (Reuters) -Dutch health technology company Philips will not sell new devices to treat sleep apnea in the U.S. in the coming years as it works to comply with a settlement with the Food and Drug Administration (FDA) announced on Monday. The agreement followed the recall of millions of breathing devices and ventilators used to treat sleep apnea in 2021 because of concerns that foam used to reduce noise from the devices could degrade and become toxic, carrying potential cancer risks. Philips said it had reached what is known as a consent decree that spells out the improvements it needs to make at its Respironics plants in the U.S.
(Reuters) -Dutch health technology company Philips on Monday modestly increased its full-year targets after beating quarterly earnings expectations but expressed concern over China's drive to become self-sufficient in health-related technologies. The Amsterdam-based group, a former industrial conglomerate that now focuses on medical technology, reported adjusted earnings before interest, taxes and amortisation (EBITA) of 453 million euros ($503.78 million) for the April-June period, above the 394 million euros seen in a company-compiled poll. For the full year, the group expects comparable sales growth in the mid-single digits versus previous guidance of low-single-digit growth while its adjusted EBITA margin is now seen at the upper end of the previously forecast high-single-digit range.
Dutch health technology company Philips on Monday slightly raised its full-year targets after posting a bigger-than-expected jump in second-quarter core earnings.