Breaking News Bar

Business News and Information

Akorn Set to Join the S&P MidCap 400; United Insurance Holdings, ANI Pharmaceuticals to Join the S&P SmallCap 600

NEW YORK, Jan. 27, 2015 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices:

  • S&P SmallCap 600 constituent Akorn Inc. (NASD: AKRX) will replace Protective Life Corp. (NYSE: PL) in the S&P MidCap 400, and United Insurance Holdings Corp. (NASD: UIHC) will replace Akorn in the S&P SmallCap 600 after the close of trading on Friday, January 30. Dai-ichi Life Insurance Company Limited is acquiring Protective Life in a deal expected to be completed on February 1.
  • ANI Pharmaceuticals Inc. (NASD: ANIP) will replace Gentiva Health Services, Inc. (NASD: GTIV) in the S&P SmallCap 600 after the close of trading on Monday, February 2. S&P SmallCap 600 constituent Kindred Healthcare Inc. (NYSE: KND) is acquiring Gentiva in a deal expected to be completed on or about that date, pending final approvals.

Akorn manufactures and markets diagnostic and therapeutic ophthalmic pharmaceuticals, niche hospital drugs, and injectable pharmaceuticals. Headquartered in Lake Forest, IL, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Pharmaceuticals Sub-Industry index.

United Insurance Holdings operates as a property and casualty insurance company. Headquartered in St Petersburg, FL, the company will be added to the S&P SmallCap 600 Property & Casualty Sub-Industry index.

ANI Pharmaceuticals develops, manufactures, and markets branded and generic prescription pharmaceuticals. Headquartered in Baudette, MN, the company will be added to the S&P SmallCap 600 GICS Pharmaceuticals Sub-Industry index.

Following is a summary of the changes:

S&P MIDCAP 400 INDEX – January 30, 2015


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Akorn

Health Care

Pharmaceuticals

DELETED

Protective Life

Financials

Life & Health Insurance

 

S&P SMALLCAP 600 – January 30, 2015


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

United Insurance Holdings

Financials

Property & Casualty Insurance

DELETED

Akorn

Health Care

Pharmaceuticals

 

S&P SMALLCAP 600 INDEX – February 2, 2015


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

ANI Pharmaceuticals

Health Care

Pharmaceuticals

DELETED

Gentiva Health Services

Health Care

Health Care Services

 

Additions to and deletions from S&P Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.

About S&P Dow Jones Indices

S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 1,000,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.

S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("S&P"), a part of McGraw Hill Financial. Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").  These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.

For more information:
David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
(+1) 212 438 3907
david.blitzer@spdji.com 

David R. Guarino
Communications
S&P Dow Jones Indices
(+1) 212 438 1471
dave.guarino@spdji.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/akorn-set-to-join-the-sp-midcap-400-united-insurance-holdings-ani-pharmaceuticals-to-join-the-sp-smallcap-600-300026688.html

SOURCE S&P Dow Jones Indices

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
bottom clear