Zurich (awp) – The first quarter of 2024 was positive for the holding company BB Biotech, the Schaffhausen group said in a press release on Friday, which has turned around after the setbacks of last year.
Net profit amounted to 260 million Swiss francs in the first quarter of 2024, compared to a net loss of 254 million Swiss francs for the same period last year.
BB Biotech shares achieved a positive quarterly return of 11.3% in Swiss francs, including the dividend of 2.00 Swiss francs per share. The total return of the portfolio was 11.2% in Swiss francs. The weakening of the Swiss franc against the US dollar contributed to performance.
The interest rate environment continues to largely determine the mood of biotech investors. Stock prices performed promisingly at the start of the year, but were later affected by concerns over possible tightening of monetary policy by the US Federal Reserve. Nevertheless, the first three months of the year were positive for BB Biotech investors, we can read in the press release.
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