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The Swiss biotech investment company BB Biotech has published a report on the results of the first half of 2018. On the basis of unaudited consolidated figures, BB Biotech AG closes the first half of 2018 with an after tax loss of approximately 70 million Swiss francs. During the corresponding period of the previous year, the Swiss were again able to report a profit of 478.4 million Swiss francs. As an investment company, the result reflects the price performance of the shares held in the portfolio.
And, especially, the heavyweights of the first half did not perform well. Ionis, which held a portfolio of 9.8% as of March 31, has lost 17% since the beginning of January until June 30th. With a share of 8.0%, the second most important position, Incyte, lost 29% at the end of June and Celgene's third highest value, with 7.7%, is behind by 24%. However, the performance could develop much better in the second half of the year. At least, the coup de send in the second half of the year is very promising. The Nasdaq Biotech index, powered by strong data on Alzheimer's Biogen, is massively accelerating. Meanwhile, the index is only just below the annual peak marked in January at 3,719 points. The three main BB Biotech shares have also been able to increase significantly recently – Celgene, for example, just under 8%. SHAREHOLDERS believe that the value is clearly undervalued anyway at current levels.
BB Biotech could launch a massive catch-up in the second half if the environment of the biotech industry remains so good. Value remains the basic investment in the sector. It will be exciting at the end of next week. On July 20, the company publishes the current composition of the portfolio at the end of June.
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