Thursday April 6, 2:40 am Eastern Time
BB Biotech Q1 NAV up, plans Italian listing
ZURICH, April 6 (Reuters) - BB Biotech AG, the Swiss-based biotechnology investment
company, said on Thursday that net asset value per share rose to 1,436 Swiss francs ($884.2) at
the end of March from 1,140 francs at the end of 1999.
The company said it planned a capital increase of a nominal 10 million francs in preparation for a
listing on the Nuovo Mercato in Italy in the course of the year.
Its share price rose to 1,670 francs at end-March from 1,145 francs at the end of December, lifted
by renewed worldwide interest in biotechnology shares, especially in the genomics sector, BB
Biotech said in its first quarter report.
In the quarter, BB Biotech bought shares in Celgene Corp (NasdaqNM:CELG - news), Trimeris
Inc (NasdaqNM:TRMS - news), United Therapeutics Corp (NasdaqNM:UTHR - news), Pharmacopeia Inc
(NasdaqNM:PCOP - news) and Diversa Corp (NasdaqNM:DVSA - news) and increased its holding in Genentech Inc
(NYSE:DNA - news).
It sold part of its holding in Biogen Inc (NasdaqNM:BGEN - news) and disposed of shares in Alza Corp (NYSE:AZA -
news) and BioChem Pharma Inc (Toronto:BCH.TO - news).
BB Biotech's portfolio was worth 3.77 billion francs at the end of the first quarter.
($1 equals 1.624 Swiss Franc)