BB Biotech presents solid first-quarter results

Investor sentiment in the biotech space continues to be shaped by the general interest rate environment. Biotechnology stocks traded higher early in the year before retreating on worries of tighter monetary policy from the Federal Reserve. Nevertheless, for BB Biotech investors, the first quarter of 2024 ended with a pleasing performance of 11.3% in CHF and 7.6% in EUR including the dividend payout of CHF 2.00 per share. The portfolio's total return (NAV) stood at 11.2% in CHF, 6.3% in EUR, and 3.8% in USD, which was slightly ahead of BB Biotech’s benchmark. BB Biotech’s performance was boosted by a weaker Swiss franc versus the US dollar.