PHG - Why Is European Healthcare Tech Giant Philips Stock Trading Higher On Wednesday? | Benzinga
On Wednesday, Koninklijke Philips NV (NYSE:PHG) said it reached a final agreement with the U.S. Justice Department and FDA regarding a settlement related to its Respironics ventilators.
The Dutch health-technology company said that under the consent decree, Philips Respironics will continue to prioritize completing the remediation of the sleep and respiratory care devices under Respironics’ voluntary June 2021 recall.
The agreement primarily focuses on Philips Respironics’ business operations in the U.S., including its manufacturing facilities in Murrysville and New Kensington, its service center in Mount Pleasant, and its Respironics headquarters in Pittsburgh, Pennsylvania.
In ...