Philips: warns of impact of US settlement on defibrillators.
(CercleFinance.com) - Dutch medical devices and healthcare products maker Philips warned on Wednesday that costs it expects to incur for the defibrillators case in the US will impact its results.
Philips said it expects Ebitda to be impacted by approximately 20 million euros in the fourth quarter of 2017 and approximately 60 million euros in 2018, after reaching an agreement with the US government.
Under the deal, Philips will suspend the manufacture and distribution of external defibrillators manufactured at its US facilities, until the FDA certifies compliance.
Philips said the impacts relate to the suspension of production, profit disgorgement payments, and incremental costs to prepare for and handle regulatory inspections.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Philips said it expects Ebitda to be impacted by approximately 20 million euros in the fourth quarter of 2017 and approximately 60 million euros in 2018, after reaching an agreement with the US government.
Under the deal, Philips will suspend the manufacture and distribution of external defibrillators manufactured at its US facilities, until the FDA certifies compliance.
Philips said the impacts relate to the suspension of production, profit disgorgement payments, and incremental costs to prepare for and handle regulatory inspections.
Copyright (c) 2017 CercleFinance.com. All rights reserved.