Deerfield-baseed Horizon Pharma has been selected for addition to the Nasdaq Biotechnology Index effective Monday.
The Nasdaq Biotechnology Index is designed to track the performance of a set of Nasdaq-listed securities classified according to the Industry Classification Benchmark as either Biotechnology or Pharmaceuticals. These companies must meet eligibility criteria that include a minimum market capitalization of $200 million and minimum average daily trading volume of 100,000 shares, among other requirements.
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The Index Securities are evaluated semiannually in May and November and serve as the basis for the iShares Nasdaq Biotechnology Index Fund.