CINCINNATI, July 11 /PRNewswire-FirstCall/ -- Kendle , a leading global full-service clinical research organization (CRO), today announced the company has been added to the Russell 3000(R) Index by the Russell Investment Group. Membership in the index took effect June 30 and will remain in place for one year. 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 $3.8 trillion in assets currently are benchmarked to them.
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For Kendle, membership in the Russell 3000 also means automatic inclusion in the small-cap Russell 2000(R) Index as well as the appropriate growth and style indexes. Kendle also remains on the Russell Microcap(TM) Index, to which it was named in 2005. Russell determines membership for its equity indexes primarily by objective, market capitalization rankings and style attributes.
“Membership in the Russell 3000 Index, as well as the Russell 2000 and Russell Microcap Indexes, reflects the value that we provide to our shareholders through continued revenue growth, strong sales and improved profitability,” said Candace Kendle, PharmD, Chairman and CEO. “As our global footprint continues to grow, we remain committed to delivering results in each of our core service areas of global Phase I-III Clinical Development, Regulatory Affairs, Biometrics and Late Phase.”
The Russell Indexes capture the 3,000 largest U.S. stocks as of May 31, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 while the remaining 2,000 companies become the widely used Russell 2000. As of May 31, Kendle’s market capitalization stood at nearly $467 million, an increase of more than 200 percent from the same date in 2005.
About Russell Investment Group
Russell, a global leader in multi-manager investment services, provides investment products and services in 44 countries. Russell manages more than $167 billion in assets and advises clients worldwide representing $2.4 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to www.russell.com.
About Kendle
Kendle International Inc. is among the world’s leading global clinical research organizations. We deliver innovative and robust clinical development solutions - from first-in-human studies through market launch and surveillance - to help the world’s biopharmaceutical companies maximize product life cycles and grow market share. Our global clinical development business is focused on five regions - North America, Europe, Asia/Pacific, Latin America and Africa - to meet customer needs. We have conducted clinical trials or provided regulatory, pharmacovigilance and validation services in 70 countries.
In May 2006, Kendle announced the signing of a definitive agreement to acquire the Phase II-IV Clinical Services business of Charles River Laboratories International, Inc. , creating the world’s fourth largest provider of Phase II-IV clinical development services. The transaction is expected to close in the third quarter of 2006.
Additional information and investor kits are available upon request from Kendle, 1200 Carew Tower, 441 Vine Street, Cincinnati, OH 45202 or from the Company’s Web site at www.kendle.com.
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CONTACT: Patty Frank, Investors, +1-513-763-1992, or Lori Dorer, Media,+1-513-345-1685, both of Kendle International Inc.
