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	<title>Stock Blog Hub &#187; SRDX</title>
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		<title>(SRDX) SurModics Analysts Cut Shares to Neutral</title>
		<link>http://www.stockbloghub.com/2011/07/10/srdx-surmodics-analysts-cut-shares-to-neutral/78588</link>
		<comments>http://www.stockbloghub.com/2011/07/10/srdx-surmodics-analysts-cut-shares-to-neutral/78588#comments</comments>
		<pubDate>Sun, 10 Jul 2011 18:17:57 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diagnostic Substances]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[Abbott Laboratories]]></category>
		<category><![CDATA[ABT]]></category>
		<category><![CDATA[Boston Scientific Corporation]]></category>
		<category><![CDATA[BSX]]></category>
		<category><![CDATA[JNJ]]></category>
		<category><![CDATA[Johnson & Johnson]]></category>
		<category><![CDATA[MDT]]></category>
		<category><![CDATA[Medtronic Inc]]></category>
		<category><![CDATA[SRDX]]></category>
		<category><![CDATA[SurModics Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=78588</guid>
		<description><![CDATA[We are downgrading SurModics (SRDX) to Neutral from Outperform following its setback, when partner Johnson &#38; Johnson (JNJ) announced in June 2011 that it will stop manufacturing Cypher and Cypher Select Plus sirolimus-eluting coronary stents by year-end. SurModics receives royalties on sales of the product. The news impacted SurModics’ shares negatively. We too have slashed our earnings estimate for fiscal 2012 by $0.08 per share. However, management at SurModics is not too perturbed by the recent development since royalties from the sales of Cypher stent have been on the decline due to reduced sales of the product. Sales of the product have been on the decline due to increased completion from players like Abbott Labs (ABT), Medtronic Inc. (MDT) and Boston Scientific Corporation (BSX). Global sales of Cypher during the ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(SRDX) SurModics Incorporated &#8211; Bull of the Day</title>
		<link>http://www.stockbloghub.com/2011/06/21/srdx-surmodics-incorporated-bull-of-the-day-2/76905</link>
		<comments>http://www.stockbloghub.com/2011/06/21/srdx-surmodics-incorporated-bull-of-the-day-2/76905#comments</comments>
		<pubDate>Tue, 21 Jun 2011 13:25:16 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diagnostic Substances]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[SRDX]]></category>
		<category><![CDATA[SurModics Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=76905</guid>
		<description><![CDATA[In June 2011, SurModics, Inc. (SRDX) received a blow when Johnson &#38; Johnson announced that it will stop manufacturing Cypher stents by year end, as SurModics receives royalties on sales of the product. However, we believe the impact of the blow will not be very severe, and that the current price represents an attractive entry point for long-term investors. We have increased our fiscal 2011 earnings estimate by $0.14 per share to $0.16. This is within the guidance range of $0.13-$0.26 provided by the company. We have also upped our fiscal 2012 estimates to $0.41 from $0.20. We believe that if the company continues to deliver strong results in the coming quarters then the increased projection will be achieved easily. We believe that investors should be more concerned about the ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(SRDX) SurModics Analyst Increases Shares to Outperform</title>
		<link>http://www.stockbloghub.com/2011/05/04/srdx-surmodics-analyst-increases-shares-to-outperform/73179</link>
		<comments>http://www.stockbloghub.com/2011/05/04/srdx-surmodics-analyst-increases-shares-to-outperform/73179#comments</comments>
		<pubDate>Wed, 04 May 2011 16:49:51 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diagnostic Substances]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[3M Company]]></category>
		<category><![CDATA[MMM]]></category>
		<category><![CDATA[SRDX]]></category>
		<category><![CDATA[SurModics Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=73179</guid>
		<description><![CDATA[We are upgrading SurModics Inc. (SRDX) to Outperform from Neutral following its strong showing in the second quarter of fiscal 2011. Our target price on the stock is $18.00. The company delivered strong results in the second quarter of fiscal 2011 outshining the Zacks Consensus Estimate on both revenues and earnings fronts. Adjusted earnings in the quarter came in at $0.08 per share, well ahead of break-even earnings suggested by the Zacks Consensus Estimate. Adjusted revenues came in at $17.4 million, beating the Zacks Consensus Estimate by $2.4 million. The impressive showing prompted the company to raise the revenues and earnings guidance for fiscal 2011. SurModics expects to end fiscal 2011 with revenues in the range of $63 million-$68 million, as against the previously forecasted range of $55 million-$63 million. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(SRDX) SurModics Incorporated &#8211; Bull of the Day</title>
		<link>http://www.stockbloghub.com/2011/05/04/srdx-surmodics-incorporated-bull-of-the-day/73198</link>
		<comments>http://www.stockbloghub.com/2011/05/04/srdx-surmodics-incorporated-bull-of-the-day/73198#comments</comments>
		<pubDate>Wed, 04 May 2011 16:40:22 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diagnostic Substances]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[SRDX]]></category>
		<category><![CDATA[SurModics Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=73198</guid>
		<description><![CDATA[We are upgrading SurModics Inc. (SRDX) to Outperform from Neutral following its strong showing in the second quarter of fiscal 2011. Adjusted earnings in the quarter came in at $0.08 per share, well ahead of break-even earnings suggested by the Zacks Consensus Estimate. Following the strong showing, the company raised its revenues and earnings projections for fiscal 2011. We have also raised our earnings estimates for fiscal 2011 and fiscal 2012. Our fiscal 2011 earnings estimates are within the company&#8217;s projected range. The efforts made by the company to revive itself after delivering below-par results in the past few quarters encourage us. Over the last five years, SurModics shares have traded in a range of 14.3x to 65.8x. Our target price of $18.00 is based on 43.9x our fiscal 2012 ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(SRDX) SurModics Analyst Maintains Neutral Rating on Shares</title>
		<link>http://www.stockbloghub.com/2010/09/14/srdx-surmodics-analyst-maintains-neutral-rating-on-shares/51392</link>
		<comments>http://www.stockbloghub.com/2010/09/14/srdx-surmodics-analyst-maintains-neutral-rating-on-shares/51392#comments</comments>
		<pubDate>Tue, 14 Sep 2010 13:16:25 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diagnostic Substances]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[JNJ]]></category>
		<category><![CDATA[Johnson & Johnson]]></category>
		<category><![CDATA[Merck & Company Inc]]></category>
		<category><![CDATA[MRK]]></category>
		<category><![CDATA[RBS]]></category>
		<category><![CDATA[Royal Bank of Scotland Group plc]]></category>
		<category><![CDATA[SRDX]]></category>
		<category><![CDATA[SurModics Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=51392</guid>
		<description><![CDATA[SurModics (SRDX), headquartered in Eden Prairie, Minnesota, is a provider of surface modification and drug delivery technologies to the healthcare industry. Following the changes in operational structure affected in 2008, the company currently operates through the following business units: cardiovascular, ophthalmology, SurModics pharmaceuticals (constituting the &#8220;therapeutic&#8221; segment) and In Vitro Technologies (diagnostics). Surmodics performed disappointingly in the most recent quarter. Earnings came in at $0.11 per share, short of the year-ago earnings by $0.09. We are encouraged by SurModics’ license agreement with Australian company Clinuvel Pharmaceuticals. The deal allows SurModics’ pharmaceuticals unit to license some of its biodegradable polymer implant technology to Clinuvel. The market opportunity for Clinuvel&#8217;s afamelanotide for ultraviolet (UV) related disorders being evaluated by the company is estimated by the Royal Bank of Scotland (RBS) to exceed ]]></description>
		<wfw:commentRss>http://www.stockbloghub.com/2010/09/14/srdx-surmodics-analyst-maintains-neutral-rating-on-shares/51392/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(SRDX) SurModics Signs Deal With Australian company Clinuvel Pharmaceuticals</title>
		<link>http://www.stockbloghub.com/2010/07/11/srdx-surmodics-signs-deal-with-australian-company-clinuvel-pharmaceuticals/43083</link>
		<comments>http://www.stockbloghub.com/2010/07/11/srdx-surmodics-signs-deal-with-australian-company-clinuvel-pharmaceuticals/43083#comments</comments>
		<pubDate>Sun, 11 Jul 2010 14:21:16 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diagnostic Substances]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[Angiotech Pharmaceuticals Inc]]></category>
		<category><![CDATA[ANPI]]></category>
		<category><![CDATA[RBS]]></category>
		<category><![CDATA[Royal Bank of Scotland Group plc]]></category>
		<category><![CDATA[SRDX]]></category>
		<category><![CDATA[SurModics Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=43083</guid>
		<description><![CDATA[Recently, SurModics Inc. (SRDX) inked a licensing deal with Australian company Clinuvel Pharmaceuticals Limited. The deal allows SurModics’ pharmaceuticals unit, which provides proprietary polymer-based drug delivery technologies to companies developing advanced pharmaceutical products, to license some of its biodegradable polymer implant technology to the Melbourne-based company. The technology is used for treating sun-induced skin disorders. The clauses of the deal were undisclosed. The two companies have been working together to develop Clinuvel&#8217;s proprietary sustained release SCENESSE (afamelanotide) implant formulation for many years. The formulation is being developed as a preventive treatment for ultraviolet (UV) and light-related dermatological deficiencies. The implant is being studied for treating a range of dermatological disorders not only in Australia but also in Europe. SurModics’ biodegradable polymer drug delivery technology permits afamelanotide to be released in ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(SRDX) SurModics Analysts Upgrades the Stock to Neutral</title>
		<link>http://www.stockbloghub.com/2010/03/27/srdx-surmodics-analysts-upgrades-the-stock-to-neutral/31557</link>
		<comments>http://www.stockbloghub.com/2010/03/27/srdx-surmodics-analysts-upgrades-the-stock-to-neutral/31557#comments</comments>
		<pubDate>Sat, 27 Mar 2010 21:12:18 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diagnostic Substances]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[JNJ]]></category>
		<category><![CDATA[Johnson & Johnson]]></category>
		<category><![CDATA[Merck & Company Inc]]></category>
		<category><![CDATA[MRK]]></category>
		<category><![CDATA[SRDX]]></category>
		<category><![CDATA[SurModics Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=31557</guid>
		<description><![CDATA[We have recently upgraded our recommendation on SurModics (SRDX) to Neutral. During the first quarter of 2010, the company’s earnings per share (EPS) came in at 24 cents, surpassing the Zacks Consensus Estimate by 5 cents. Although revenues of $21 million were down 26% from the year-ago period, it was primarily due to the termination of the company’s agreement with Merck (MRK) in September 2008. SurModics derives a substantial portion of its drug delivery revenue from the Cypher stent, which is marketed by Johnson &#38; Johnson’s (JNJ) Cordis division. Despite severe competition in the stent market, revenues from the cardiovascular segment during the quarter recorded a 9% sequential growth. This segment accounted for 62% of total revenues. In addition, we are pleased to note that the overall drug-eluting stent penetration ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(SRDX) SurModics Earnings Report Beats Expectations</title>
		<link>http://www.stockbloghub.com/2010/01/29/srdx-surmodics-earnings-report-beats-expectations/26442</link>
		<comments>http://www.stockbloghub.com/2010/01/29/srdx-surmodics-earnings-report-beats-expectations/26442#comments</comments>
		<pubDate>Sat, 30 Jan 2010 01:15:15 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diagnostic Substances]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[JNJ]]></category>
		<category><![CDATA[Johnson & Johnson]]></category>
		<category><![CDATA[Merck & Company Inc]]></category>
		<category><![CDATA[MRK]]></category>
		<category><![CDATA[SRDX]]></category>
		<category><![CDATA[SurModics Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=26442</guid>
		<description><![CDATA[SurModics (SRDX) reported first quarter fiscal 2010 earnings per share (EPS) of 11 cents, down from $1.53 in the year ago period. However, after adjustments, the EPS of 24 cents surpassed the Zacks Consensus Estimate by 5 cents. The company reported revenues of $17.4 million, down 72.5% from the corresponding period last year. The primary reason for the decline was the termination of the company’s agreement with Merck (MRK). Revenues were down 9% on a sequential basis. SurModics opened a new cGMP facility in Alabama. The facility is expected to generate revenues for the company from the second quarter. The major portion of capital investment for this facility has already been made with another $3 million?$4 million expected to be spent on equipment in the remainder of fiscal 2010. In ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(SRDX) SurModics Misses Earnings Estimates</title>
		<link>http://www.stockbloghub.com/2009/11/07/srdx-surmodics-misses-earnings-estimates/19819</link>
		<comments>http://www.stockbloghub.com/2009/11/07/srdx-surmodics-misses-earnings-estimates/19819#comments</comments>
		<pubDate>Sun, 08 Nov 2009 00:33:28 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diagnostic Substances]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[Abbott Laboratories]]></category>
		<category><![CDATA[ABT]]></category>
		<category><![CDATA[Boston Scientific Corporation]]></category>
		<category><![CDATA[BSX]]></category>
		<category><![CDATA[JNJ]]></category>
		<category><![CDATA[Johnson & Johnson]]></category>
		<category><![CDATA[MDT]]></category>
		<category><![CDATA[Medtronic Inc]]></category>
		<category><![CDATA[SRDX]]></category>
		<category><![CDATA[SurModics Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=19819</guid>
		<description><![CDATA[SurModics’ (SRDX) fourth-quarter earnings per share came in at 18 cents, below the Zacks Consensus Estimate of 20 cents. The company reported revenues of $19.2 million, down 17% compared to the year ago period. In addition to quarterly results, SurModics came out with fiscal year 2009 results. The company recorded revenues of $121.5 million in 2009, up 25%, compared to $97 million in the previous year and earnings per share of $1.07 for 2009. On a business unit basis, apart from Diagnostic, revenues from the other three segments – Cardiovascular, Ophthalmology and Other Markets, recorded a decline in revenues for the fourth quarter. While Diagnostic revenues increased 2% year over year to $4.6 million, revenues for the other three segments declined 12% to $9.8 million, 29% to $1.9 million and ]]></description>
		<wfw:commentRss>http://www.stockbloghub.com/2009/11/07/srdx-surmodics-misses-earnings-estimates/19819/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(SRDX) Surmodics Inks Licensing Deal With Roche</title>
		<link>http://www.stockbloghub.com/2009/10/09/srdx-surmodics-inks-licensing-deal-with-roche/17337</link>
		<comments>http://www.stockbloghub.com/2009/10/09/srdx-surmodics-inks-licensing-deal-with-roche/17337#comments</comments>
		<pubDate>Fri, 09 Oct 2009 17:44:30 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diagnostic Substances]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[Angiotech Pharmaceuticals Inc]]></category>
		<category><![CDATA[ANPI]]></category>
		<category><![CDATA[Novartis AG]]></category>
		<category><![CDATA[NVS]]></category>
		<category><![CDATA[SRDX]]></category>
		<category><![CDATA[SurModics Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=17337</guid>
		<description><![CDATA[On Tuesday, SurModics Inc. (SRDX) announced that it licensed its drug delivery technology to Roche (RHHBY) and its wholly owned subsidiary, Genentech. Drug delivery technologies create and support site specific drug delivery polymers and coating technologies for use in drug/device combination products in chosen markets. Under the terms of the agreement, SurModics is entitled to an up-front payment of $3.5 million. Furthermore, the deal could be worth up to $200 million in delayed payments if multiple products are successfully developed. SurModics will also receive royalties on product sales. SurModics will receive payments for its development services. Under the terms of the agreement, Roche and Genentech have the right to obtain manufacturing services from SurModics. The transaction provides Roche and Genentech complete access to the biodegradable microparticles developed by SurModics. They ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(MYGN) Biotech Industry &#8211; Zacks Analyst Interviews</title>
		<link>http://www.stockbloghub.com/2009/06/01/mygn-biotech-industry-zacks-analyst-interviews/7669</link>
		<comments>http://www.stockbloghub.com/2009/06/01/mygn-biotech-industry-zacks-analyst-interviews/7669#comments</comments>
		<pubDate>Mon, 01 Jun 2009 23:05:04 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Diagnostic Substances]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[Alkermes Inc.]]></category>
		<category><![CDATA[ALKS]]></category>
		<category><![CDATA[AMAG]]></category>
		<category><![CDATA[AMAG Pharmaceuticals Inc.]]></category>
		<category><![CDATA[Celera Corporation]]></category>
		<category><![CDATA[CRA]]></category>
		<category><![CDATA[DCGN]]></category>
		<category><![CDATA[deCODE genetics Inc.]]></category>
		<category><![CDATA[MYGN]]></category>
		<category><![CDATA[Myriad Genetics Inc.]]></category>
		<category><![CDATA[SRDX]]></category>
		<category><![CDATA[SurModics Inc.]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=7669</guid>
		<description><![CDATA[OVERVIEW The Biotech industry as a whole continues to underperform the market so far this year. As of May 26, 2009, Both the AMEX Biotech Index and the broader NASDAQ Biotech Index declined 6.8% (AMEX Biotech has 20 biotech companies while NASDAQ Biotech Index includes over 130 component companies), while the Dow Jones Biotech Index declined 3% (which includes 33 companies). At the same time, both the NASDAQ Composite and S&#38;P 500 have achieved positive returns. NASDAQ has made a gain of 11% as of 5/26/09 and the S&#38;P 500 has gained 0.8%, while the Dow Jones Industrials reached a negative 3.5% return. This constitutes a sharp contrast with last year when the Biotech industry as a whole achieved much better performance than the market. In 2008, all three biotech ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>(WYE) Biotech Industry &#8211; Industry Outlook</title>
		<link>http://www.stockbloghub.com/2009/03/13/wye-biotech-industry-industry-outlook/4310</link>
		<comments>http://www.stockbloghub.com/2009/03/13/wye-biotech-industry-industry-outlook/4310#comments</comments>
		<pubDate>Fri, 13 Mar 2009 22:00:19 +0000</pubDate>
		<dc:creator>vitalstocks</dc:creator>
				<category><![CDATA[Drug Manufacturers - Major]]></category>
		<category><![CDATA[Healthcare]]></category>
		<category><![CDATA[Alkermes]]></category>
		<category><![CDATA[ALKS]]></category>
		<category><![CDATA[AMAG]]></category>
		<category><![CDATA[AMAG Pharmaceuticals]]></category>
		<category><![CDATA[Celera Corporation]]></category>
		<category><![CDATA[CRA]]></category>
		<category><![CDATA[DCGN]]></category>
		<category><![CDATA[deCODE genetics Inc.]]></category>
		<category><![CDATA[Eli Lilly & Company]]></category>
		<category><![CDATA[GILD]]></category>
		<category><![CDATA[Gilead Sciences Incorporated]]></category>
		<category><![CDATA[LLY]]></category>
		<category><![CDATA[Merck & Company Inc.]]></category>
		<category><![CDATA[MRK]]></category>
		<category><![CDATA[PFE]]></category>
		<category><![CDATA[Pfizer Inc.]]></category>
		<category><![CDATA[Schering-Plough Corp.]]></category>
		<category><![CDATA[SGP]]></category>
		<category><![CDATA[SRDX]]></category>
		<category><![CDATA[SurModics Inc.]]></category>
		<category><![CDATA[WYE]]></category>
		<category><![CDATA[Wyeth]]></category>

		<guid isPermaLink="false">http://www.stockbloghub.com/?p=4310</guid>
		<description><![CDATA[OVERVIEW The financial market and the economic landscape in the U.S. have not changed much since the beginning of the year. And we believe the status quo will last for a while at least in 2009. Large biotech companies are doing OK since they have strong balance sheets to weather the current market turmoil and can generate revenue from product sales. Investors in large biotechnology companies worth more than $1 billion have preserved much of their wealth. Smaller biotech companies, particularly those still in development stage, meanwhile, are under severe strain as the global economic slump cuts into sales and their ability to raise fresh cash to fund research. As we expected, the M&#38;A spree has continued in the first three months of this year. Following the acquisition of Wyeth ]]></description>
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