Biotech Values

[WorstLuck]

PHG

More drama on the apnea device recall from 2021, FDA still seeking data.

https://www.cnbc.com/2023/10/06/philips-shares-fall-after-fda-says-sleep-device-recall-inadequate.html

KEY POINTS
Shares of Dutch health tech company Philips on Friday fell to the bottom of the European benchmark.
The U.S. Food and Drug Administration (FDA) said overnight that it does not believe that “the testing and analysis Philips has shared to date are adequate to fully evaluate the risks posed to users from the recalled devices.”
In response to the FDA, Philips said in a statement that its “first priority is the health and well-being of patients.”

Price dropped to 18.29 but still well off the lows around 12.00 earllier this year.