Inclusion in the NBI will be effective on November 24, 2003.
Taro Pharmaceutical Industries Ltd. (Nasdaq:TARO) and Savient Pharmaceuticals, Inc. (Savient), (NASDAQ:SVNT) last week announced that they have been selected for inclusion in the Nasdaq Biotechnology Index (NBI).
Launched in 1993, the Nasdaq Biotechnology Index includes pharmaceutical and biotechnology companies as classified by the FTSETM Global Classification System. The Index is adjusted on a semi-annual basis in May and November and serves as the basis for the iShares Nasdaq Biotechnology Index Fund(SM) (IBB). All securities in the Index are listed on the Nasdaq National Market and meet minimum criteria for market value, average daily share volume, and longevity as a public company, among others.
The companies addition to the NBI will be effective on Monday, November 24, 2003.
Published by Globes [online] - www.globes.co.il - on November 16, 2003