Shares of Dutch health technology company, Koninklijke Philips NV (NYSE: PHG) were up in pre-market trading on Thursday after the company’s CEO Roy Jakobs stated in an interview with a Dutch newspaper that the company was looking to reach a settlement this year regarding its global recall of respiratory devices.
Jakobs expressed the hope that the company would also be able to reach a settlement with the U.S. FDA this year. Philips recalled millions of breathing devices and ventilators used to treat sleep apnea in 2021 because of a foam part that could potentially degrade and become toxic, carrying a cancer risk.
PHG stock has climbed more than 12% in the past three months.
