We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Koninklijke Philips NV | NYSE:PHG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.335 | 1.24% | 27.295 | 27.35 | 27.25 | 27.30 | 173,926 | 15:13:13 |
By Adria Calatayud
Koninklijke Philips NV (PHIA.AE) said on Wednesday that it has agreed with the U.S. Department of Justice to suspend production and distribution of external defibrillators manufactured at its facilities in Andover, Massachusetts, and Bothell, Washington.
The Dutch health-technology company said it anticipates the suspension to have an impact of approximately 20 million euros ($23.6 million) on its earnings before interest, taxes and amortization in the fourth quarter of 2017 and of EUR60 million in 2018. Combined sales of the affected defibrillator product lines were around EUR35 million per quarter in 2016, the company added.
Philips said the agreement was reached by its subsidiary Philips North America LLC with the Department of Justice, representing the Food and Drug Administration, and the suspension came about following inspections in and before 2015. The suspension will remain in place until the FDA certifies Philips' facilities comply with regulations, Philips added.
The company also said that its defibrillators currently in use shouldn't be taken out of service as it has no reason to believe they pose a risk to patients.
Write to Adria Calatayud at adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
October 11, 2017 01:53 ET (05:53 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
1 Year Koninklijke Philips NV Chart |
1 Month Koninklijke Philips NV Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions