Teva (Nasdaq: TEVA) announced on Friday that its shares would be included in the lucrative Nasdaq-100 index from Thursday, November 7 .
Launched in January 1985, the Nasdaq-100 index represents the largest and most active non-financial domestic and international issues listed on the Nasdaq Stock Market based on market capitalization. Companies in the index represent major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and pharmaceuticals. As part of its annual re-ranking process to determine the 2002 list, the index assessed companies based on financial criteria focusing mostly on market capitalization.
Teva joins three other Israeli companies currently listed in the index - Check Point (Nasdaq: CHKP), Mercury Interactive Corporation (Nasdaq: MERQ) and Comverse (Nasdaq: CMVT).
Teva president and CEO Israel Makov said, "We are thrilled to be included as a member of this elite group. This is recognition of our leadership in the generic pharmaceutical industry, our successful profitable growth strategy, our strong financial track record, and our reaching a market capitalization of $10 billion."
Teva CFO Dan Suesskind added, "This is an important milestone in Teva's trading history, which will provide our company with increased visibility among potential investors in the future. Our ADR has been traded since 1982 and last quarter was the most actively traded ADR on Nasdaq."
Published by Globes [online] - www.globes.co.il - on 3 November, 2002