BB Biotech: SNB decision does not alter the good fundamentals of the biotech sector

Friday, 16. January 2015 07:37

BB BIOTECH AG / BB Biotech: SNB decision does not alter the good fundamentals of the biotech sector . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

BB Biotech drops 10.1% (in CHF) on SIX Swiss Exchange

The decision by the Swiss National Bank (SNB) to scrap the minimum exchange rate of CHF 1.20 to the euro came with consequences: Mirroring the turbulence on financial and currency markets, BB Biotech AG shares also headed south. They ended the day's trading on SIX Swiss Exchange on January 15, 2015 10.1% lower (in CHF), roughly tracking the slump in the all-share Swiss SPI index (-8.6%). The picture was different for the company's listings on foreign exchanges such as the Frankfurt Stock Exchange: There BB Biotech's share price ended the day up 4.6% in EUR. The value of the investment portfolio declined slightly by 2.8% in USD over the same period but, due to the high proportion of USD shareholdings in the portfolio, the Net Asset Value in CHF retreated by 15.0%.

From the beginning of the year to January 15, 2015, BB Biotech's share price has risen by 15.7% in USD, 3.7% in CHF and 18.9% in EUR.

The short-term repercussions of such violent market moves cannot be predicted with accuracy but the Management Team of BB Biotech still considers the strong fundamentals of the biotech sector to be intact.

 

 

For further information:

Bellevue Asset Management AG, Seestrasse 16, 8700 Küsnacht, Switzerland
Tanja Chicherio, Tel. +41 44 267 67 00, tch@bellevue.ch

b-public AG, Pfingstweidstrasse 6, 8005 Zurich, Switzerland
Thomas Egger, Tel. +41 79 423 22 28, teg@b-public.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 with approx. CHF 2.9 billion in assets under management. 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.

 

Disclaimer

This release contains forward-looking statements and expectations as well as assessments, beliefs and assumptions. Such statements are based on the current expectations of BB Biotech, its directors and officers, and are, therefore, subject to risks and uncertainties that may change over time. As actual developments may significantly differ, BB Biotech and its directors and officers accept no responsibility in that regard. All forward-looking statements included in this release are made only as of the date of this release and BB Biotech and its directors and officers assume no obligation to update any forward-looking statements as a result of new information, future events or other factors. 




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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BB BIOTECH AG via Globenewswire

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BB BIOTECH AG
Vordergasse 3 Schaffhausen Switzerland

WKN: AONFN3;ISIN: CH0038389992;


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