Press Release: BB Biotech's investment success continues - profit of CHF 931.8 mn for 2013

BB Biotech AG / BB Biotech's investment success continues - profit of CHF 931.8 mn for 2013 . Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

Publication of 2013 annual report of BB Biotech AG

Buoyed by the positive performance of its portfolio investments, BB Biotech AG achieved strong results in 2013. It closed the fourth quarter with a net profit of CHF 100.4 mn, raising the bottom-line number for the full year to CHF 931.8 mn (2012: CHF 367.8 mn). This result is also reflected in the company's share price, which surged 66% (in CHF, incl. cash distribution), making 2013 one of the best years in the company's history. As already announced earlier, BB Biotech is maintaining its previous dividend policy and will propose a tax-efficient cash distribution of CHF 7.00 per share at the upcoming annual general meeting of shareholders. That corresponds to a yield of 5%.

The positive momentum produced further share price gains during the last quarter. BB Biotech earned a profit of CHF 100.4 mn in the fourth quarter of 2013 compared to a net loss of CHF 134.6 mn for the same period of the previous year. The entire portfolio contributed to the positive performance, ranging from the long-term core holdings to the more recently taken positions in mid-cap stocks. The strong performance in 2013 resulted in a net profit of CHF 931.8 mn. Full-year profit for 2012 was CHF 367.8 mn. Last year's performance was fuelled by the top holdings Celgene, Gilead and Actelion, as well as by Isis and Incyte, whose share prices surged in the wake of positive news flow on their product pipelines. The latter two stocks now rank among the portfolio's top 5 positions.

In 2013 the Nasdaq Biotech Index (NBI) rose 66.0% - twice as much as the S&P Index (in USD, incl. dividends). BB Biotech shares recorded an annual performance of 66.0% in CHF, 65.6% in EUR and 70.2% in USD. The Net Asset Value (NAV) of BB Biotech significantly increased 77.0% in CHF, 74.1% in EUR and 81.4% in USD (all values account for the cash distribution of CHF 4.50 per share).

A tax-efficient cash distribution of CHF 7.00 per share will be proposed at the annual general meeting on March 19, 2014. This corresponds to a 5% yield on the weighted volume average share price in December 2013. Going forward, the cash distribution will be calculated the same way.

Outlook

2014 will be another exciting year for the biotech industry punctuated by the publication of a large number of important clinical trial results, further product approvals and, presumably, further sector consolidation. Despite the valuation re-rating over the past two years, the BB Biotech Management Team considers the sector to still be attractively valued. The fundamental strength behind the biotech industry will gain increasing momentum on the back of new and innovative products now moving through the clinical pipeline. This should make further double-digit returns possible.

The annual report for the year ended December 31, 2013, is available at www.bbbiotech.com.

For further information:

Investor Relations

Bellevue Asset Management AG, Seestrasse 16, 8700 Küsnacht, Switzerland, Tel. +41 44 267 67 00

Dr. Silvia Schanz, ssc@bellevue.ch

Maria-Grazia Iten-Alderuccio, mga@bellevue.ch

Claude Mikkelsen, cmi@bellevue.ch

Media Relations

b-public AG, Pfingstweidstrasse 6, 8005 Zürich, Switzerland, Tel. +41 79 423 22 28

Thomas Egger, teg@b-public.ch

Bellevue Asset Management AG, Seestrasse 16, 8700 Küsnacht, Switzerland, Tel. +41 44 267 67 00

Tanja Chicherio, tch@bellevue.ch

www.bbbiotech.com

Company profile

BB Biotech invests in companies in the fast growing market of biotechnology and is one of the world's largest investors in this sector with more than CHF 2.1 bn in assets under management. BB Biotech is listed in Switzerland, Germany and Italy. Its investments are focused on listed companies that are developing and commercializing novel medical treatments and cures. BB Biotech's investment selection process is guided by the fundamental research and analysis of physicians and molecular biologists. Its Board of Directors has many years of experience in industry and science.

Disclaimer

This release contains forward-looking statements and expectations as well as assessments, beliefs and assumptions. Such statements are based on the current expectations of BB Biotech, its directors and officers, and are, therefore, subject to risks and uncertainties that may change over time. As actual developments may significantly differ, BB Biotech and its directors and officers accept no responsibility in that regard. All forward-looking statements included in this release are made only as of the date of this release and BB Biotech and its directors and officers assume no obligation to update any forward-looking statements as a result of new information, future events or other factors.

Media Release (PDF): http://hugin.info/130285/R/1763137/597383.pdf

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: BB BIOTECH AG via Globenewswire

HUG#1763137

--- End of Message ---

BB BIOTECH AG

Vordergasse 3 Schaffhausen Switzerland

WKN: AONFN3;ISIN: CH0038389992;

(END) Dow Jones Newswires

   February 20, 2014 01:02 ET (06:02 GMT)- - 01 02 AM EST 02-20-14