Shares of Dutch health tech company Philips fell by more than 7% after the US Food and Drug Administration (FDA) criticized its handling of a product recall. The FDA stated that Philips' testing and analysis of its recalled ventilators used to treat sleep apnea were inadequate, and that additional testing is necessary. Philips responded by emphasizing its priority of patient health and well-being, stating that it shares the same objective as the FDA to ensure high standards of patient safety and quality in healthcare delivery.

The post Philips Shares Fall 7% after U.S. Drug Regulator Deals fresh blow to sleep device recall appeared first on Balanced News Summary.