Philips suffers a blow as ventilator stockpiling ends

Coronavirus 377 Health Care 233 U.S. 4472

The U.S. government has started cancelling contracts for ventilators after the national stockpile reached its target. That’s led CPAP-maker Philips to cut its earnings outlook. U.S. imports of ventilators climbed 31.5% year over year in the three months to July 31, though exports have also increased as a result of shipments to harder hit countries. U.S. seaborne imports of ventilators linked to Philips had surged 122% in the three months to July 31 versus Q1 but have already started to decline in August. Philips’ other products have done better with a 9.3% year over year in imports in th...

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