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Nasdaq Adds Seven Companies to its Biotech Index

NEW YORK, Nov. 12 – The Nasdaq has added seven companies to its Nasdaq Biotechnology Index, bringing the number of companies in the index to 72.

The companies to be added to the index include Albany Molecular Research, Corixa, Genta, Immunomedics, Isis Pharmaceuticals, Invitrogen, and genomics company Exelixis.

The change in the index will be effective at the start of trading on Monday.

In January, the Nasdaq slashed the number of companies in the index, after prices for many of the securities plunged as a result of a downturn in the market. Securities in the index must meet minimum requirements for price, market value, and average daily share volume.

Among the genomics companies that were removed from the index in January were genomics companies such as Compugen, DeCode, Gemini Genomics, Informax, Hyseq, Large Scale Biology, Lynx Therapeutics, Rosetta Inpharmatics, and Variagenics.

None of those companies has been readded to the index.

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