BB BIOTECH AG
- WKN: A0NFN3
- ISIN: CH0038389992
- Land: Switzerland
Nachricht vom 23.04.2021 | 07:00
BB BIOTECH AG: Successful vaccination campaigns point the way out of the corona crisis - sector re-valuation used for portfolio investments
DGAP-News: BB BIOTECH AG
/ Key word(s): Interim Report
Media release of April 23, 2021
Interim report of BB Biotech AG as at March 31, 2021
Successful vaccination campaigns point the way out of the corona crisis - sector re-valuation used for portfolio investments
BB Biotech delivered positive results for the first quarter amid a market environment characterized by profit-taking in the healthcare sector. Its stock ended the quarter with a positive total return of 15.4% in CHF and 14.3% in EUR. The SARS-CoV-2 pandemic remains the dominant theme in the healthcare sector. Bringing the pandemic under control will clearly depend on the rollout and administration of vaccines. Countries such as Israel, the US and the UK that secured early access to vaccines have experienced sharp drops in infection and hospitalization rates. Although most other countries are making slower progress with their vaccination campaigns, they are likely to eventually show similar developments. Accelerating the pace of vaccinations even more and improving the global rollout of vaccines will be important given the potential emergence of resistant mutations. With respect to general expectations of a quick end to the pandemic during the next few quarters, BB Biotech believes booster shots, possibly every year, will be necessary to keep COVID-19 under control.
US and European indices showed significant gains in the first quarter of 2021 and ended the quarter at all-time highs. The S&P 500 (+6.2% in USD), the Dow Jones (+8.3% in USD) and the Nasdaq Composite Index (+3.0% in USD) all ended the quarter with gains. Expectations of an economic recovery produced an even stronger rebound in European markets: EuroStoxx 50 (+10.8% in EUR), the Dax (+9.4% in EUR) and the Swiss market SPI (+5.2% in CHF) all gained considerable ground.
Healthcare stocks, however, after reaching new highs in January and February of 2021, were then sold off and gave up most of their gains in March. The total return of the MSCI World Healthcare Index for the quarter was +0.9% (in USD). The drug industry - generally regarded as a defensive sector - underperformed, as did the Nasdaq Biotech Index, which closed the period with a total return of -0.5% (in USD). This underperformance is attributed to a substantial asset rotation. Investors shifted assets into cyclical sectors and stocks that stand to profit from the post-pandemic recovery.
Annual General Meeting on March 18, 2021
Portfolio activity in 1Q 2021
Outlook for 2021
Measures to overcome the pandemic will be scaled back as vaccination rates increase and BB Biotech therefore expects the biotechnology sector to quickly gain momentum again. This should have a variety of positive effects on companies in the biotech sector. For example, faster patient recruitment for clinical trials and a reduction in filing backlogs at regulatory agencies and doctor's visits should return to normal, leading to normal drug prescription levels too.
The investment management team will continue to seek investments in biotechnology firms that are pursuing novel approaches to create breakthrough clinical improvements for patients and economic value. Given the current momentum-driven markets, BB Biotech will stick to its disciplined, long-term investment strategy, while also taking advantage of short-term market dislocations.
For further information:
TE Communications AG, Bleichestrasse 11, 9000 St. Gallen, Switzerland, Tel. +41 79 423 22 28
|Company:||BB BIOTECH AG|
|Phone:||+41 52 624 08 45|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Mailand, SIX|
|EQS News ID:||1187801|
|End of News||DGAP News Service|
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