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BRIEF-BB Biotech posts Q1 net profit of 375 million Swiss francs
April 21, 2017 / 5:13 AM / 7 months ago

BRIEF-BB Biotech posts Q1 net profit of 375 million Swiss francs

April 21 (Reuters) - Bb Biotech Ag

* Reports pleasing quarterly results

* Earned a bottom-line profit of 375 million Swiss francs ($375.45 million) in Q1 of 2017

* For remainder of 2017, BB Biotech expects a series of late stage clinical trial read-outs and an increase in number of product approvals during 2017 compared to 2016

* Expects US healthcare reform debate to simmer (discussion of Affordable Care Act continues in Congress)

* Drug pricing may remain a popular topic for presidential tweets, and more serious initiatives may be expected around “best-prices” and “value-based prices” during 2017 and beyond

* Johnson & johnson’s acquisition of actelion is expected to deliver significant cash for bb biotech in Q2

* Will consider selective increases in undervalued portfolio positions and continue to add promising new smaller and mid-cap positions to its investment portfolio Source text for Eikon: Further company coverage: ($1 = 0.9988 Swiss francs) (Gdynia Newsroom)

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