Philips Sales Rise Amid Product Recall Agreement

Royal Philips says it has agreed with the U.S. Department of Justice tied to a recall involving sleep and respiratory products, aiming to move beyond the issue. The Dutch health-technology company reported that sales rose in the third quarter, helping offset the disruption of the recall process. Philips’ update noted higher sales as it worked toward resolving the matter with regulators in the United States. The company also pointed to continued momentum in its commercial performance while the agreement was being finalized. The announcement follows a period when recall-related uncertainty weighed on business activity, but Philips said it is now positioned to progress.