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BOSTON (AP) - Boston Scientific Corp. said Wednesday it has won antitrust clearance from the Federal Trade Commission's staff for its $27 billion acquisition of former medical devices rival Guidant Corp., but is still awaiting final approval from the full commission as well as European regulators.
Also on Wednesday, Guidant said its first-quarter sales dropped 6 percent from last year, and it expects to record more than $120 million in charges for the quarter. Guidant has suffered sliding sales because of product recalls and news that the company withheld information about the faulty devices.
Boston Scientific said it continues to expect its acquisition of Guidant to close around the middle of this month following regulatory clearances.
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