Royal Philips NV, the world’s largest lighting company, said progress toward 2016 goals for profitability will be “modest” this year after a slowdown in healthcare orders and increasing costs tied to currencies.
Johnson & Johnson persuaded a Louisiana appeals court to throw out a $257.7 million verdict holding the drugmaker liable for deceptively marketing the anti- psychotic medicine Risperdal to doctors across the state.
Royal Philips NV will transfer a remaining 30 percent stake in television joint-venture TP Vision as it sells some consumer electronic businesses to focus on more profitable offerings such as cancer scanners and energy savings light bulbs.
Frans van Houten starts as chief executive officer of Royal Philips Electronics NV today with the challenge of turning around the 3 billion-euro ($4.2 billion) television business, a task that eluded his predecessor.
Royal Philips Electronics NV Chief Executive Officer Frans van Houten said the consumer unit’s first double-digit sales gain in seven quarters shows that his strategy of adapting products to local needs is working.
Royal Philips Electronics NV boosted Chief Executive Officer Frans van Houten’s total compensation to 3.4 million euros ($4.5 million) as his revamp of the world’s largest lighting manufacturer boosted earnings.