Over the past year, Thermo Fisher has been outperforming its broader industry. Post a promising fourth-quarter show by Thermo Fisher, we are encouraged by the company’s solid international performance with strong growth in the Asia-Pacific and the emerging markets. Also, a series of product launches along with major progress in precision medicine initiatives benefited the company’s performance. Thermo Fisher’s FEI acquisition has already started to boost analytical instruments portfolio. Also in 2017, the company deployed $7.8 billion on strategic acquisitions, adding leading biopharma contract development and manufacturing services through Patheon. On the flip side, in the reported quarter, the company’s business segments were impacted by strategic investments and unfavorable business mix. Also, competitive headwinds and rising operating costs continue to pose a threat.