More biotechs join S&P300 index
Friday, 05 September, 2003
Market analyst Standard and Poor's has added four more Australian biotechnology firms and a medical device company to its S&P300 index.
Circadian Technologies, Genetic Technologies, Metabolic Pharmaceuticals and Norwood Abbey, along with retractable syringe specialist Unitract, will join the index from September 19.
Tim Eisenhauer, S&P's head of index services, said companies were selected to join the index on the basis if the free float of their shares, on their market capitalisation, and their liquidity over a six-month period.
The last healthcare firm to join the 300 was artificial heart maker Ventracor.
The S&P300's healthcare board also includes Agenix, Cellestis, Chemeq, Cochlear, CSL, IDT, Novogen, Peptech, ResMed and Sirtex.
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