WILMINGTON, N.C., July 17 /PRNewswire-FirstCall/ -- PPD, Inc. today announced that it is included in the new NASDAQ Global Select Market. The NASDAQ Global Select Market has the highest initial listing standards of any exchange in the world based on financial and liquidity requirements. Prior to the change, the company had been listed on the NASDAQ National Market.
Beginning July 3, NASDAQ-listed companies will be classified under three listing tiers -- NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital Market. NASDAQ also plans to launch indexes based on these new tiers.
“PPD is an example of an industry leader that has achieved superior listing standards, which clearly defines the essence of the NASDAQ Global Select Market,” said Bruce Aust, executive vice president, corporate client group. “NASDAQ is focused on leading a race to the top in terms of listing qualifications. In recognizing these companies, we are highlighting their achievement in meeting the requirements to be included in the market with the highest listing standards in the world.”
“We are pleased that PPD was selected for inclusion in the NASDAQ Global Select Market based on our track record of performance in the market and our ability to meet the stringent financial listing qualifications.” Added Fred Eshelman, PPD’s chief executive officer. “Members of the NASDAQ Global Select Market comprise roughly one-third of NASDAQ listings, which underscores our commitment to providing a quality investment opportunity to our shareholders.”
NASDAQ announced the new three tier listing classification in February 2006. All three market tiers will maintain rigorous listing and corporate governance standards. For additional information about the NASDAQ Global Select Market, please go to: www.nasdaq.com/GlobalSelect.
About NASDAQ
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit www.nasdaq.com or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/.
About PPD
PPD is a leading global contract research organization providing discovery, development and post-approval services as well as compound partnering programs. Our clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations. With offices in 27 countries and more than 8,700 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a commitment to quality to help its clients and partners maximize returns on their R&D investments and accelerate the delivery of safe and effective therapeutics to patients. For more information, visit our Web site at http://www.ppdi.com.
Except for historical information, all of the statements, expectations and assumptions, including expectations and assumptions about PPD’s qualification for inclusion in the NASDAQ Global Select Market, contained in this news release are forward-looking statements that involve a number of risks and uncertainties. Although PPD attempts to be accurate in making these forward- looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors which could cause results to differ materially include the following: continued success in sales growth; loss of large contracts; increased cancellation rates; economic conditions and outsourcing trends in the pharmaceutical, biotechnology, medical device, academic and government industry segments; competition within the outsourcing industry; risks associated with acquisitions and investments, such as impairments; risks associated with and dependence on collaborative relationships; risks associated with the development and commercialization of drugs, including obtaining regulatory approval; rapid technological advances that make our products and services less competitive; the ability to attract and retain key personnel; risks that we may not continue our dividend policy; and the other risk factors set forth from time to time in the SEC filings for PPD, copies of which are available free of charge upon request from the PPD investor relations department.
Contacts for PPD: Media Nancy Zeleniak +919 462 4088 nancy.zeleniak@rtp.ppdi.com Analysts/Investors Steve Smith +910 772 7585 stephen.smith@wilm.ppdi.com
PPD, Inc.
CONTACT: Media, Nancy Zeleniak, +1-919-462-4088, ornancy.zeleniak@rtp.ppdi.com; or Analysts-Investors, Steve Smith,+1-910-772-7585, or stephen.smith@wilm.ppdi.com, both of PPD, Inc.
