BB BIOTECH AG
BB Biotech weathers a challenging past year – portfolio performs well in in the volatile fourth quarter of 2016 (news with additional features)
DGAP-News: BB BIOTECH AG / Key word(s): Quarterly / Interim Statement Media release as of January 20, 2017 Portfolio of BB Biotech AG as of December 31, 2016 BB Biotech weathers a challenging past year – portfolio performs well in in the volatile fourth quarter of 2016 5% dividend yield maintained – BB Biotech management is very confident about the sector’s prospects in 2017 With a total return of 0.3% in CHF and 1.9% in EUR, BB Biotech weathered the storm of a challenging 2016 for biotechnology investors. Share price performance was substantially influenced by the discount resolution. The portfolio closed the year at -19.1% in CHF, at -17.6% in EUR and -20.6% in USD – slightly ahead of the Nasdaq Biotech Index. The fourth quarter 2016 was buffeted by initial positive moves following the US presidential election before the focus turned back to the topic of healthcare costs and drug price inflation. Despite all this, BB Biotech continued to strengthen its market position and is proposing a regular dividend of CHF 2.75 per share. The fourth quarter reflected the whole of 2016. Fourth quarter total returns for the NBI was -8.3% vs the S&P 500 at +3.8% and the Dow Jones Index at +8.7%. Full year 2016 total returns looked similar, with the Nasdaq Biotech Index (NBI) closing at -21.3%, the S&P 500 Index at +11.9% and the Dow Jones Index at +16.5% (in USD). BB Biotech’s development in the fourth quarter and FY 2016 During the fourth quarter of 2016, the portfolio (-0.8% in CHF, +1.4% in EUR and -5.5% in USD) showed less decline than the NBI. For the full year, the portfolio total return was -19.1% in CHF, -17.6% in EUR and -20.6% in USD. Consolidated but not yet audited fourth quarter data for BB Biotech record a net loss of CHF 24 mn versus last year’s quarter gain of CHF 511 mn. Consolidated but not yet audited full year 2016 data, showed a net loss of CHF 802 mn versus a full year net profit of CHF 653 mn for 2015. A proposed dividend of CHF 2.75 per share Portfolio adjustments in the fourth quarter Outlook – exciting 2017 as storms subside With biotechnology valuations at very attractive levels, more acquisitions by large players, including pharmaceutical firms, are expected. Actions of the incoming presidential administration in the US may accelerate this likely trend – and BB Biotech expects investors to follow suit. Repeal and rework of the Affordable Care Act (ACA) will be front and center throughout the year, and there may be choppy reactions to possible drug price controls or moderation in the US. Despite these transitional events which will be attentively followed as always, BB Biotech remains strongly convinced that the future of the biotechnology industry is bright. The sector will further demonstrate its strength as a source of innovation – and notwithstanding short-term uncertainties from political changes, the Investment Team believes these sources will be converted into substantial value for patients, care providers, the healthcare system at large and, of course, investors which includes BB Biotech shareholders. BB Biotech looks forward to an exciting 2017 and remains dedicated to finding, analyzing and investing in leading-edge biotechnology firms with exciting news flow and robust growth prospects. The complete annual report as of December 31, 2016 will be published on February 17, 2017. For further information: Investor Relations Media Relations b-public AG, Pfingstweidstrasse 6, 8005 Zürich, Switzerland, tel. +41 79 423 22 28 Company profile Disclaimer Composition of BB Biotech’s portfolio as of December 31, 2016
1) Corresponds to the total of all own shares held including the second trading line Additional features: Document: http://n.eqs.com/c/fncls.ssp?u=CDFNRVHHBK Document title: Media release
20.01.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | BB BIOTECH AG |
Schwertstrasse 6 | |
8200 Schaffhausen | |
Switzerland | |
Phone: | +41 52 624 08 45 |
Fax: | +41 1 267 67 01 |
E-mail: | info@bbbiotech.com |
Internet: | www.bbbiotech.ch |
ISIN: | CH0038389992 |
WKN: | A0NFN3 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart; SIX |
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