BB Biotech AG
ISIN-No.: CH0038389992
YTD: 16.31%
Active share: 77.72
Anzahl Positionen: 23
New innovative drugs and technologies are powering sustainable momentum in the biotech sector
Focus on profitable companies and small and mid-cap companies with strong pipelines
Attractive dividend policy; Dividend payment of 5% p.a.
Indexed performance (as at: 07.10.2025)
Share price: CHF 38.95 (07.10.2025)
NAV: CHF 43.00 (07.10.2025)
Rolling performance (07.10.2025)
Share Price | NAV | Benchmark | |
07.10.2024 - 07.10.2025 | 14.37% | 10.82% | 0.25% |
07.10.2023 - 07.10.2024 | -6.49% | 6.15% | 11.12% |
07.10.2022 - 07.10.2023 | -21.17% | -16.04% | -6.23% |
07.10.2021 - 07.10.2022 | -29.80% | -16.68% | -16.19% |
Annualized performance (07.10.2025)
Share Price | NAV | Benchmark | |
1 year | 14.37% | 10.82% | 0.25% |
3 years | -5.53% | -0.41% | 2.10% |
5 years | -5.45% | -1.44% | 1.09% |
10 years | 2.09% | 1.74% | 3.46% |
Since Inception p.a. | 9.83% | 10.13% | 8.75% |
Cumulative performance (07.10.2025)
Share Price | NAV | Benchmark | |
1M | 13.72% | 6.83% | 4.27% |
YTD | 16.31% | 7.90% | 3.54% |
1 year | 14.37% | 10.82% | 0.25% |
3 years | -15.70% | -1.23% | 6.44% |
5 years | -24.43% | -7.00% | 5.55% |
10 years | 22.95% | 18.88% | 40.49% |
Since Inception | 1'891.04% | 2'077.37% | 1'351.96% |
Annual performance
Share Price | NAV | Benchmark | |
2024 | -13.53% | 2.97% | 7.56% |
2023 | -18.15% | -7.39% | -4.79% |
2022 | -24.29% | -11.00% | -9.09% |
2021 | 8.34% | -11.45% | 2.98% |
Facts & Key figures
Investment Focus
BB Biotech actively invests worldwide in fast growing companies developing and marketing innovative biotech drugs. At least 90% of its shareholdings must be in listed companies, while always holding more than 50% of its assets in equity investments. Show moreShow less
Investment suitability & Risk
Low risk
High risk
General Information
Investment Manager | Bellevue Asset Management AG |
Custodian | Bank Julius Bär AG |
Fund Administrator | Bellevue Asset Management AG |
Auditor | Deloitte AG |
Launch date | 09.11.1993 |
Year end closing | 31. Dec |
Management Fee | 1.10% |
ISIN number | CH0038389992 |
Valor number | 3838999 |
Bloomberg | BION SW Equity |
WKN | A0NFN3 |
Legal Information
Legal form | Incorporate company |
SFDR category | Article 8 |
Key data (30.09.2025, base currency CHF)
Beta | 1.19 |
Volatility | 27.35 |
Tracking error | 13.24 |
Active share | 77.72 |
Correlation | 0.89 |
Sharpe ratio | 0.14 |
Information ratio | 0.01 |
Jensen's alpha | -0.48 |
No. of positions | 23 |
Portfolio as at 30.06.2025
Positions
Market capitalization
Breakdown by sector
Currency
Benefits & Risks
Benefits
- Unique opportunity for European investors to access the global biotech sector, a non-cyclical growth industry that is strongly supported by increasing demand, driven by demographic trends and life style changes.
- New innovative drugs and technologies are powering sustainable momentum in the biotech sector.
- Focus on a diversified portfolio of profitable companies as well as small and midcap companies with strong pipelines.
- Management Team with strong scientific and medical expertise. Renowned Board of Directors.
- Attractive dividend policy; Dividend payment of 5% p.a.
Risks
- BB Biotech actively invests in equities. Equities are subject to strong price fluctuations and so are also exposed to the risk of price losses.
- Biotech equities can be subject to sudden substantial price movements owning to market, sector or company factors.
- BB Biotech invests in foreign currencies, which means a corresponding degree of currency risk against the reference currency.
- The price investors pay or receive, like other listed shares, is determined by supply and demand and may be at a discount or premium to the underlying net asset value of the Company.
- BB Biotech may take a leverage of up to 15%, which may lead to even higher price movements compared to the underlying market.
Review / Outlook
The share price of BB Biotech increased by 13.3% in CHF in September, while the company’s net asset value (NAV) rose by 12.0% in USD. The Nasdaq Biotechnology Index (NBI) closed 4.4% higher in USD.
In September, the biotech sector extended its positive momentum, underpinned by renewed investor appetite for innovation and several important corporate milestones. While the broader NBI delivered a solid monthly gain, BB Biotech’s significantly stronger performance reflects both the quality of its portfolio companies and their ability to deliver tangible clinical and regulatory progress. Broader equity markets also contributed to a constructive backdrop. On September 17, 2025, the US Federal Reserve lowered its key interest rate by 25 basis points to a target range of 4.00% to 4.25%. This decision strengthened expectations of a more supportive monetary environment. As a result, sentiment for growth-oriented sectors such as biotechnology improved, since lower interest rates reduce financing costs.
The sector’s resilience was also highlighted by the uptick in strategic M&A activity. Large pharmaceutical companies continued to pursue pipeline-enhancing assets, a trend that confirms sustained appetite for differentiated science and the potential for value-creating deals. Even in a cautious macroeconomic setting, high-quality biotech assets have demonstrated their ability to attract substantial premiums.
An important milestone for BB Biotech was its inclusion in the SPI ESG Index of SIX Swiss Exchange as of September 22, 2025. This recognition underscores BB Biotech’s long-standing commitment to responsible investing and sustainable corporate governance. The index inclusion also provides investors with a transparent ESG benchmark and highlights the long-term attractiveness of BB Biotech’s portfolio from both a financial and sustainability perspective.
Selected highlights in September from BB Biotech’s portfolio companies:
Ionis Pharmaceuticals (+53%, in USD) reported very positive news in early September, as its drug olezarsen showed impressive results in a large clinical trial for patients with extremely high blood fat levels (severe hypertriglyceridemia). Beyond lowering these dangerous fat levels, the treatment also sharply reduced the risk of painful and sometimes life-threatening pancreatitis attacks. This positions olezarsen as a potential new standard of care for patients who currently have very few options, with the addressable patient population also expanding significantly.
Alongside this, Ionis also shared encouraging late-stage data for zilganersen in Alexander disease, a devastating rare neurological condition. The trial showed the first signs that a treatment could slow or stabilize the progression of this disease.
Revolution Medicines (+23%, in USD) continued to make encouraging progress with its novel cancer treatments. The company is developing drugs that directly target mutations in the RAS pathway, which play a key role in many hard-to-treat cancers, including pancreatic cancer. Recent clinical data underscored the promise of this approach, strengthening confidence that Revolution Medicines could become a leader in oncology innovation. With a growing pipeline and strong early results, the company is gaining recognition as one of the most ambitious challengers in cancer drug development.
Scholar Rock Holding (+14%, in USD) shifted its focus from clinical results to regulatory review in September. After the publication of pivotal phase 3 data in August, expectations were high ahead of the FDA’s decision on apitegromab. On September 22, however, the FDA issued a complete response letter (CRL). Importantly, the CRL did not raise concerns about the drug’s safety or efficacy but related instead to manufacturing observations at a third-party facility. Scholar Rock is working with its partner to resolve these issues and intends to resubmit the application, keeping the path open for apitegromab to become the first muscle-targeted therapy for spinal muscular atrophy.
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