BUENA, N.J., June 30, 2014 /PRNewswire/ -- IGI Laboratories, Inc. (NYSE MKT: IG; IGI or the Company), a specialty generic topical pharmaceutical company, has been added as a member of the broad-market Russell 3000 ® Index after the equity markets closed on June 27 as Russell Investments reconstituted its comprehensive family of global indexes.
Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 ® Index or small-cap Russell 2000 ® Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
"We are very pleased to be included in the Russell 3000 Index," commented Jason Grenfell-Gardner, President and CEO of the Company. "We believe that our inclusion in the Russell Indexes will further bolster our visibility and reach in the investment community as we continue to execute our strategy to be a leader in the specialty generic topical prescription drug market."
About IGI Laboratories, Inc.IGI Laboratories is a generic topical pharmaceutical company. We develop and manufacture topical formulations for the pharmaceutical, OTC, and cosmetic markets. Our mission is to be a leading player in the generic topical prescription drug market. About Russell: Russell Investments (Russell) is a global asset manager and one of only a few firms that offers actively managed multi-asset portfolios and services that include advice, investments and implementation. Russell stands with institutional investors, financial advisors and individuals working with their advisors—using the firm's core capabilities that extend across capital market insights, manager research, portfolio construction, portfolio implementation and indexes to help each achieve their desired investment outcomes. Data for the Russell 3000 and other Russell Indexes is available at http://www.russell.com/Indexes/. Forward-Looking Statements