ACETO Receives Approval to Change Its GICS(R) Code to Health Care -- Health Care Distributors
February 26 2015 - 8:00AM
ACETO Corporation (Nasdaq:ACET), a global leader in the marketing,
sale and distribution of products for Human Health, Pharmaceutical
Ingredients and Performance Chemicals, today announced that MSCI
Inc. has approved its request to change its Global Industry
Classification Standard (GICS®) code to 35102010 (Health Care -
Health Care Distributors) from 20107010 (Industrials - Trading
Companies and Distributors). The new GICS code will be effective as
of the market close on February 27, 2015.
ACETO submitted the request to MSCI to more accurately reflect
the company's business mix now that it derives more than 60% of its
revenues and earnings from sourcing, marketing and sale of
pharmaceutical intermediates and active ingredients, finished
dosage form generics and nutraceutical products.
The GICS® was developed by MSCI, a premier independent provider
of global indexes and benchmark-related products and services, and
Standard & Poor's, an independent international financial data
and investment services company and a leading provider of global
equity indexes, in an effort to offer an efficient investment tool
that captures the breadth, depth and evolution of industry sectors.
As a general rule, a company is classified in the sub-industry
whose definition most closely describes the business activities
that generate more than 60% of the company's revenues. The GICS®
currently consist of 10 sectors, 24 industry groups, 67 industries
and 156 sub-industries. Under the GICS®, each company is assigned
uniquely to one sub-industry according to its principal business
activity.
ABOUT ACETO
ACETO Corporation, incorporated in 1947, is a global leader in
the marketing, sale and distribution of products for Human Health
(finished dosage form generics and nutraceutical products),
Pharmaceutical Ingredients (pharmaceutical intermediates and active
pharmaceutical ingredients), and Performance Chemicals (specialty
chemicals and agricultural protection products). With business
operations in nine countries, ACETO distributes over 1,100 chemical
compounds used principally as finished products or raw materials in
the pharmaceutical, nutraceutical, agricultural, coatings and
industrial chemical industries. ACETO's global operations,
including a staff of 25 in China and 12 in India, are distinctive
in the industry and enable its worldwide sourcing and regulatory
capabilities.
CONTACT: Investor Relations Contact:
LHA
Jody Burfening
jburfening@lhai.com
(212) 838-3777