Irish heart drug developer Amarin Corp. PLC, with Stonington R&D operations, has been added to the Nasdaq Biotechnology Index — the second Connecticut biopharma firm to do so this year.
Amarin said its addition to the index was effective at the open of U.S. markets Monday.
On May 23, New Haven drug developer Achillion Pharmaceuticals Inc. joined the index, replacing Danbury’s Biodel Inc., which was dropped due to its rocky financial fortunes.
“We believe that our selection to this index recognizes Amarin’s successful execution of its strategy to develop the next generation in cardiovascular health management and consistent achievement of corporate milestones.” Amarin Chairman and CEO Joseph S. Zakrzewski said in a statement Monday.
Nasdaq’s Biotechnology Index was launched in 1993 and includes securities of Nasdaq-listed companies that meet minimum requirements, including market value, average daily share volume, and seasoning as a public company, among other criteria.
The index is ranked on a semi-annual basis in May and November.
