Posted 10/6/2023, 10:09:50 AM
Philips Shares Drop as FDA Faults Company's Handling of Sleep Apnea Device Recall
- Philips shares fell 7% on Friday after U.S. FDA said Philips' handling of product recall was inadequate
- Philips is recalling millions of ventilators used to treat sleep apnea
- CEO said recall would be Philips' "highest priority"
- FDA said Philips' testing and analysis so far is not enough to evaluate risks from recalled devices
- Philips agreed to do more testing requested by FDA to clarify safety of recalled sleep devices
