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Boston Scientific Corporation

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Despite challenging economic conditions, a competitive environment and severe currency headwinds, Boston Scientific managed to post a better-than-expected first-quarter 2016, with respect to both earnings and revenues. Hiwever, apart from a difficult foreign exchange environment, we are also concerned with the disappointing performance in the company’s core CRM segment with worldwide pacemakers and defibrillator sales declining over the past few quarters. Nevertheless, Boston Scientific is leaving no stone unturned to strengthen its core businesses and invest in new technologies and global markets, which accounted for the sales upside across all its geographies in the first quarter. Moreover, we are also encouraged with the company gaining a number of approvals for its products, both in the domestic market and outside. The company’s Urology business is also gaining further traction by the AMS urology portfolio acquisition.

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