Significant Pipeline Progress at BB Biotech Offsets Market Volatility

BB Biotech AG's portfolio exhibited strong performance in terms of pipeline advancements, despite facing market challenges linked to rate fluctuations. Recent data demonstrates substantial progress within several portfolio companies, such as Alnylam, Intra-Cellular Therapies, and Agios, all showing positive results in Phase III trials.

In Q2 2024, BB Biotech experienced share price declines of 12.0% in CHF and 11.3% in EUR. Despite a net loss of CHF 87 million for the quarter, a net profit of CHF 173 million was achieved in the first half of 2024, recovering from a net loss of CHF 267 million in the previous year. This improvement is attributed to financial strengthening and significant milestones reached by portfolio companies.

Dr. Daniel Koller’s planned retirement by year-end heralds leadership changes, with Dr. Christian Koch set to take over as the head of the investment management team from January 2025. The board expresses confidence in Dr. Koch’s capability to navigate the complex market landscape ahead.