Philips expects to reach recall settlements this year: CEO Roy Jakobs
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Amsterdam: Dutch health technology company Philips expects to reach settlements this year relating to its global recall of respiratory devices, CEO Roy Jakobs said in an interview with Dutch financial daily FD published on Thursday.
"I think we can at least reach a settlement on economic damages this year," Jakobs said without giving details on the expected costs.
Jakobs added he "hopes and expects" to also reach a settlement with the US Food and Drug Administration this year. A settlement with patients who claim the use of the recalled machines made them sick probably will take longer, he said.
Read also: Philips respiratory devices recall classified as most serious by USFDA
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