BB Biotech AG Reports Consolidated Earnings Results for the Year Ended December 31, 2012; Announces Board Changes
February 20, 2013
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BB Biotech AG reported consolidated earnings results for the year ended December 31, 2012. For the year, the company has posted total operating income of CHF 391,989,000 against CHF 4,892,000 a year ago. Operating income before tax was CHF 368,133,000 against operating loss before tax CHF 65,051,000 a year ago. Net gain for the year was CHF 367,834,000 or CHF 31.99 basic and diluted per share against net loss for the year of CHF 65,138,000 or CHF 4.55 basic and diluted per share a year ago. Total cash flows from operating activities were CHF 134,667,000 against CHF 169,521,000 a year ago. Purchase of treasury shares was CHF 164,037,000 against CHF 136,190,000 a year ago.
After 10 years on the board of directors, the company announced that its Chairman, Prof. Dr. Thomas Szucs will not be standing for re-election at the next Annual General Meeting on March 18, 2013. Thomas Szucs had a profound impact on the strategy and the success of the investment company during the past 10 years and helped to steer it through challenging times. Dr. Erich Hunziker is proposed as the designated Chairman of the Board of Directors. Erich Hunziker has been on the Board of Directors of BB Biotech since March 2011. The Board of Directors will propose Prof. Dr. Dr. Klaus Strein as a new director.
BB Biotech AG is a Switzerland-based investment company, which principal activity is to invest in companies active in the biotechnology industry. BB Biotech AG invests mainly in companies operating in such sectors as oncology, infectious diseases, cardiovascular diseases, metabolic diseases and autoimmune diseases. The Companyâs portfolio comprises between 20 and 35 companies and includes such companies as Celgene, Actelion, Vertex Pharmaceuticals, Gilead, Novo Nordisk, Incyte, Isis Pharmaceuticals, Immunogen, Halozyme Therapeutics, Ariad Pharmaceuticals, Biomarin Pharmaceutical, Alexion Pharmaceuticals, Optimer Pharmaceuticals, Achillion Pharmaceuticals, Swedish Orphan Biovitrum, Dendreon, Bavarian Nordic, Lupin, Glenmark Pharmaceuticals, Strides Arcolab, Endocyte, Probiodrug, and Idenix Pharmaceuticals.