Page 170 - Philips News Today

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The company has been battling a series of crises over its DreamStation for sleep apnoea

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. Phi...

European shares traded mixed on Monday after notching two-year highs in the previous session, thanks to some upbeat quarterly earnings and signs of cooling inflation in the euro area.

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Royal Philips, a global leader in health technology, is

Shares of Philips Electronics NV were losing more than 6 percent in the morning trading in Amsterdam as well as in pre-market activity on the NYSE after the Dutch consumer electronics giant reported Monday a drop in fourth-quarter income from operations amid weak sales.

European shares traded mixed on Monday after notching two-year highs in the previous session, thanks to some upbeat quarterly earnings and signs of cooling inflation in the euro area.

Under-fire Dutch medical device maker Philips said Monday it would halt new sales of sleep machines in the United States after a series of recalls that continued to weigh on results. "Until the relevant requirements of the consent decree are met, Philips Respironics will not sell new... sleep therapy devices or other respiratory care devices in the US," the company said.

European markets close higher on a busy week for earnings, central bank announcements and data.