Caliper added to Russell Index

Caliper Life Sciences has announced it has been added to the Russell 3000 Index.

The life sciences provider’s inclusion in Russell’s annual reconstitution of US indexes capturing the 4,000 largest stocks as of the end of May will last for a year before it is updated.

It also means the firm gains automatic addition in the large-cap Russell 1000 Index or small-cap Russell 2000 index.

According to the company, Russell determines membership for its equity indexes primarily by objective, market-capitalisation rankings and style attributes.

"Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies," a company statement said.

Caliper announced last month its first-quarter sales for 2008 showed growth of three per cent from the previous year.

The organisation claims to be a leading provider of cutting-edge technologies that enable life sciences researchers to create medicines and diagnostic tests quicker.