Page 168 - Philips News Today

WASHINGTON (AP) — The company behind a global recall of sleep apnea machines said Monday it will stop selling the devices in the U.S., under a tentative agreement with regulators that could cost the manufacturer nearly $400 million.

New York Registry shares of Koninklijke Philips plunged after the medical technology firm said it would stop selling its sleep apnea devices in the U.S. to abide by a consent decree from U.S. regulators.

U.S. equities were mixed at midday Monday, Jan. 29, 2024 ahead of earnings reports from some of the biggest names in the tech industry and the Fed's policy meeting later in the week.

The major U.S. index futures are currently pointing to a roughly flat open on Monday, with stocks likely to extend the lackluster performance seen in the previous session.

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The company behind a global recall of sleep apnea machines says it will stop selling the devices in the U.S., under a tentative agreement with regulators.

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Device maker Philips has recalled more than 5 million pressurized breathing devices due to risks that their internal foam can break down over time, leading users to inhale tiny particles while they sleep.

The company behind a global recall of sleep apnea machines says it will stop selling the devices in the U.S., under a tentative agreement with regulators.

The company behind a global recall of sleep apnea machines says it will stop selling the devices in the U.S., under a tentative agreement with regulators.