BB Biotech AG with after-tax loss in the first quarter of 2016
April 13 2016 - 2:07PM
Italian Regulatory (Text)
Media Release, April 13, 2016
BB Biotech AG with after-tax loss in the first quarter of 2016
In accordance with regulations on ad hoc publicity, BB Biotech AG
(ISIN CH0038389992) is releasing the following information about
its results for the first quarter of 2016. Based on preliminary
unaudited consolidated results, BB Biotech AG closed the first
quarter of 2016 with a loss of CHF 1.2 billion (CHF 379 million
profit in the corresponding period of the previous year). As an
investment company, the results reflect the performance of the
stocks it holds in its investment portfolio. The net income figure
for the first quarter of 2016 reflects the overall difficult start
into 2016 for equity markets. The accelerated profit-taking in the
biotechnology sector was driven by many years of outperformance and
the continued debate over healthcare affordability and drug prices
in the context of the US presidential election campaigns. As a
result, valuations in the sector are particularly attractive and
for large caps at a decade low. BB Biotech's share price decreased
16.5% in CHF and 17.4% in EUR during the corresponding period. The
interim report as of March 31, 2016 will be published on April 22,
2016.
For further information: Bellevue Asset Management AG, Seestrasse
16, 8700 Küsnacht, Switzerland Tanja Chicherio, Tel. +41 44 267 67
07, tch@bellevue.ch www.bbbiotech.com
Company profile BB Biotech invests in companies in the fast growing
market of biotechnology and is one of the world's largest investors
in this sector. BB Biotech is listed in Switzerland, Germany and
Italy. Its investments are focused on listed companies that are
developing and commercializing novel medical treatments and cures.
BB Biotech's investment selection process is guided by the
fundamental research and analysis of physicians and molecular
biologists. Its Board of Directors has many years of experience in
industry and science.
BB Biotech AG www.bbbiotech.com
Schwertstrasse 6 CH-8200 Schaffhausen
T +41 52 624 08 45
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