The U.S. Food and Drug Administration remains unsatisfied with the status of a product recall by healthcare technology company Philips , the regulator said in an update.In the update published overnight, the FDA said it believed Amsterdam-headquartered Philips should conduct additional testing on the risk posed to people who used recalled devices."This is negative news," analysts from Bernstein said in a note.
The long-running recall wiped out more than two-thirds of Philips' market valuation in 2021-2022, but it has staged a modest recovery in 2023.
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FDA Not Satisfied With Philips Breathing Device RecallThe U.S. Food and Drug Administration (FDA) remains unsatisfied with the status of a product recall by healthcare technology company Philips , the regulator said in an update. Philips has recalled millions of sleep apnea and respiratory devices since 2021. In the update...
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