Health & Fitness
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Published in Health and Fitness on Friday, June 24th 2011 at 13:56 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
LIVINGSTON, N.J.--([ BUSINESS WIRE ])--Columbia Laboratories, Inc. (Nasdaq: CBRX) today announced that it was added to the Russell 3000? Index effective following the market close on Friday, June 24, 2011. The Russell 3000 serves as the U.S. component to the Russell Global Index.
"We believe our inclusion in the Russell indexes will provide our company with greater visibility to a broader range of potential investors"
"We believe our inclusion in the Russell indexes will provide our company with greater visibility to a broader range of potential investors," said Frank C. Condella, Jr., Columbia's president and chief executive officer.
The Russell 3000 Index measures the stock performance of the largest 3,000 U.S. companies based on total market capitalization at the end of May. Members of the Russell 3000 are also included in the Russell Global Index. These indexes are reconstituted annually in June.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in institutional assets currently are benchmarked to them. These investment tools originated from Russell?s multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
About Columbia Laboratories
Columbia Laboratories, Inc. is developing products that utilize its novel bioadhesive drug delivery technologies to optimize drug delivery in a controlled, sustained manner. The Company has developed and sold six products for the U.S. market including CRINONE? (progesterone gel), for which Columbia receives royalties on annual net sales from Watson Pharmaceuticals. CRINONE is commercialized outside the U.S. by Merck Serono. The Company submitted a New Drug Application (NDA) to the Food and Drug Administration (FDA) for PROCHIEVE? (progesterone gel) for the reduction of risk of preterm birth in women with short uterine cervical length in the mid-trimester of pregnancy on April 26, 2011.
Columbia's press releases and other company information are available online at [ www.columbialabs.com ].
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This communication contains forward-looking statements, which statements are indicated by the words ?may,? ?will,? ?plans,? ?believes,? ?expects,? ?anticipates,? ?potential,? and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Factors that might cause future results to differ include, but are not limited to, the following: the successful marketing of CRINONE? by Watson Pharmaceuticals, Inc., in the United States and by Merck Serono outside the United States; acceptance for filing by the United States Food and Drug Administration (?FDA?) of the New Drug Application (?NDA?) for PROCHIEVE in the preterm birth indication; the decision of the FDA on Columbia's request for Priority Review for this NDA; the outcome of further statistical analyses by the FDA of the clinical data generated during the PREGNANT Study; success in obtaining timely FDA approval of PROCHIEVE in the preterm birth indication; successful development of a next-generation vaginal progesterone product; the ability of our third-party manufacturers to supply CRINONE and PROCHIEVE; the impact of competitive products and pricing; the timely and successful negotiation of partnerships or other transactions; the strength of the United States dollar relative to international currencies, particularly the euro; competitive economic and regulatory factors in the pharmaceutical and healthcare industry; general economic conditions; and other risks and uncertainties that may be detailed, from time-to-time, in Columbia?s reports filed with the SEC. Columbia does not undertake any responsibility to revise or update any forward-looking statements contained herein.
CRINONE? and PROCHIEVE? are registered trademarks of Watson Pharmaceuticals, Inc.