“Philips shares rocket 29% as firm settles U.S. respiratory device case”
May 2, 2024
“Philips shares soared to a more than two-year high Monday after the Dutch medical devices giant agreed to a $1.1 billion settlement in the U.S. for personal injury cases linked to the recall of some of its sleep apnea devices.
Millions of devices were recalled in 2021 over concerns that components carried potential cancer risks. Philips shares provisionally closed more than 29% higher, paring gains from earlier in the session…