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Philips Agrees Terms Of US Consent Decree, Remains Bullish On 2024

CEO proclaims light at the end of the tunnel of Respironics recalls

 
• By Ashley Yeo

Royal Philips CEO Roy Jakobs updated investors on progress of the company’s operating plan 2023-25, US actions and litigation on the Respironics portfolio, patient safety, quality and the order book as it announced Q4 2023 revenues.

Dark tunnel with a road winding through to a light at the end
• Source: Shutterstock

After more than 18 months of discussions, Royal Philips announced on 29 January that it has agreed with the US Department of Justice (DoJ) and Food and Drug Administration (FDA) the terms of the consent decree detailing how the company must change its manufacturing in the wake of the Respironics, Inc. product recalls.

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