CINCINNATI, March 7 /PRNewswire-FirstCall/ -- Kendle (Nasdaq: KNDL), a leading, global full-service clinical research organization, today announced Chairman and Chief Executive Officer Candace Kendle, PharmD, and President and Chief Operating Officer Chris Bergen have established prearranged trading plans to sell shares of the company's common stock over a designated period. The stock trading plans are part of their personal ongoing long-term strategy for tax planning and asset diversification and were adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934 and Kendle's policy regarding stock transactions by its insiders.
Under the trading plans, during a six-month period commencing March 20, 2008, and ending Sept. 30, 2008, Dr. Kendle and Mr. Bergen plan to sell up to 550,715 and 302,136 shares of KNDL common stock, respectively, in open market transactions. Transactions under this plan will be disclosed publicly by Dr. Kendle and Mr. Bergen through Securities and Exchange Commission filings.
Rule 10b5-1 permits insiders to implement a written plan to sell stock when they are not in possession of material non-public information and continue to sell shares on a regular basis even if they receive such information subsequently. Such plans establish predetermined trading parameters that do not permit the person adopting the plan to exercise any subsequent influence over how, when, or whether to affect trades. Using these plans, insiders can gradually diversify their investment portfolios, spread stock trades out over an extended period of time to reduce market impact, and avoid concerns about transactions occurring at a time when they might possess inside information.
Kendle International Inc. (Nasdaq: KNDL) is among the world's leading global clinical research organizations. We deliver innovative and robust clinical development solutions - from first-in-human studies through market launch and surveillance - to help the world's biopharmaceutical companies maximize product life cycles and grow market share.
Our global clinical development business is focused on five regions - North America, Europe, Asia/Pacific, Latin America and Africa - to meet customer needs. We have conducted clinical trials and provided regulatory and pharmacovigilance services in more than 80 countries. Kendle was named "Top CRO to Work With" in the Thomson CenterWatch 2007 survey of U.S. investigative sites and "Best CRO" for 2007 and 2006 by leading global pharmaceutical publication Scrip. Additional information and investor kits are available upon request from Kendle, 441 Vine Street, Suite 1200, Cincinnati, OH 45202 or from the Company's Web site at http://www.kendle.com.
|SOURCE Kendle International Inc.|
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