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Nasdaq Drops Accelrys, Affy, Caliper, Luminex from Biotech Index, adds Genomic Health, Solexa

This article has been updated from a previous version to clarify the ICB classification system that Nasdaq uses as part of its criteria for including companies in the Biotechnology Index.
 
NEW YORK, May 15 (GenomeWeb News) - A number of genomics firms have been dropped from the Nasdaq Biotechnology index as part of a semi-annual update, the exchange said on Friday.
 
As a result of the re-ranking, which will become effective next Monday, Accelrys, Affymetrix, Caliper Life Sciences, and Luminex were among nine firms dropped from the index due to a change in their classification according to the Industry Classification Benchmark, a classification system created and maintained by Dow Jones and London's Financial Times and Stock Exchange.
 
Genomic Health and Solexa were among 15 firms added to the index in the re-ranking.
 
Nasdaq said that companies in the index must be classified as either a biotechnology or pharmaceutical firm based on the ICB and must also meet other eligibility criteria, "including listing on the Nasdaq National Market and meeting minimum requirements for market value, average daily share volume, and seasoning as a public company."
 
A Nasdaq spokesman was unable to provide details on the ICB reclassification status or other eligibility criteria for any of the firms affected by the update.  
 
Further information on the index is available here.

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