BB Biotech: good year in 2017; dividend raised 20%
(CercleFinance.com) - The BB Biotech stock is up 1.
2% on the Zurich Stock Exchange today, outperforming the SMI index, which is only up 0.3%, after the holding company specialising in biotechs published its provisional 2017 results. The portfolio performed well last year and the company will raise its dividend by 20% to 3.75 Swiss francs.
BB Biotech manages a portfolio of equity investments in around thirty listed biotech companies, mainly in the US, which are focused on oncology and orphan diseases. Its main investments are in: Ionis Pharmaceuticals, Celgene, Incyte and Neurocrine Biosciences.
In 2017, the value of its portfolio increased by 12.5% in euros, 23.4% in Swiss francs and 29.2% in dollars. Note that the Nasdaq Biotechnology Index has increased by over 20% in one year.
Net income for 2017 is therefore forecast at 688 million Swiss francs, compared with a loss of 802 million in 2016.
Final results will be published on 16 February.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2% on the Zurich Stock Exchange today, outperforming the SMI index, which is only up 0.3%, after the holding company specialising in biotechs published its provisional 2017 results. The portfolio performed well last year and the company will raise its dividend by 20% to 3.75 Swiss francs.
BB Biotech manages a portfolio of equity investments in around thirty listed biotech companies, mainly in the US, which are focused on oncology and orphan diseases. Its main investments are in: Ionis Pharmaceuticals, Celgene, Incyte and Neurocrine Biosciences.
In 2017, the value of its portfolio increased by 12.5% in euros, 23.4% in Swiss francs and 29.2% in dollars. Note that the Nasdaq Biotechnology Index has increased by over 20% in one year.
Net income for 2017 is therefore forecast at 688 million Swiss francs, compared with a loss of 802 million in 2016.
Final results will be published on 16 February.
Copyright (c) 2018 CercleFinance.com. All rights reserved.