London, UK, 22 January 2025

Edison issues report on BB Biotech (BION)

Edison issues report on BB Biotech (BION).

BB Biotech (BION) is the largest biotech investor among its investment company peers. The company is focused on achieving long-term capital growth by investing in high-quality biotech assets developing and marketing innovative drugs. The new year has started on a very positive note for BION. Pharmaceutical giant Johnson & Johnson (J&J) recently announced plans to acquire one of BION’s core holdings, Intra-Cellular Therapies, at a 40% premium. Intra-Cellular comprised 6.1% of BB Biotech’s portfolio at end-Q324, although its share will be larger now. Since J&J’s announcement, BB Biotech’s net asset value (NAV) has risen by 3.4% in absolute terms, 3.1 percentage points ahead of its benchmark, the Nasdaq Biotech Index. This note considers the broader implications of this transaction for the biotech sector.

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