MOUNTAIN VIEW, Calif., July 1, 2008 (PRIME NEWSWIRE) -- Pharsight Corporation (Nasdaq:PHST), a leading provider of software and strategic services designed to optimize clinical drug development, announced today that it was added to the Russell Microcap(r) Index when Russell Investments reconstituted its comprehensive family of U.S. and global equity indexes on June 27, 2008.
Membership in the Russell Microcap, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization 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. An industry-leading $4.4 trillion in assets are currently benchmarked to the Russell indexes.
"Russell is an industry leader for stock indexes, and we expect our inclusion will generate greater interest in our stock among investors," said Shawn O'Connor, chairman and chief executive officer of Pharsight.
Total returns data for the Russell Microcap and other Russell Indexes is available at http://www.russell.com/Indexes/performance/daily_total_returns_us.asp.
About Russell:
Russell Investments aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $213 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world's best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors.
Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company. Headquartered in Tacoma, Wash., U.S., Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto.
About Pharsight Corporation
Pharsight Corporation develops and markets integrated products and services that enable pharmaceutical and biotechnology companies to achieve significant and enduring improvements in the development and use of therapeutic products. The company's goal is to help customers reduce the time, cost and risk of drug development, as well as optimize the post-approval marketing and use of pharmaceutical products.
Pharsight's approach enhances the fundamental element of drug development success: strong decision-making. By adopting the Pharsight approach, customers acquire a new decision-making process with the potential to systematically improve every level and phase of their business and scientific processes. Pharsight is headquartered in Mountain View, California. Information about Pharsight is available at http://www.pharsight.com.