BB Biotech: Gains realized following COVID-19 vaccine booster update enable increases in oncology and CNS


Healthcare markets traded higher in July and August but lost ground in September and ended the third quarter in line with the broader market. BB Biotech shares showed a return of -3.3% in CHF and -2.0% in EUR for the third quarter of 2021. For the first nine months, their total return including the dividend stood at 18.2% in CHF and 19.0% in EUR.  BB Biotech, an early investor in Moderna, took advantage of the company’s fundamental strength to realize some profits, but remains substantially invested in the stock. The Investment Team did close its position in Halozyme after 11 years and realized a total profit of USD 
235 mn on this investment. Most of the proceeds were reinvested in companies with an attractive oncology pipeline such as Revolution Medicines, Relay Therapeutics, Fate Therapeutics, Essa Pharma, Macrogenics, Molecular Templates and Mersana Therapeutics. IPO activities in the biotech sector have subsided somewhat, while takeovers remain at a low level. There is however a full pipeline of pending regulatory approvals and clinical trial readouts.


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