Daniel Koller, lead fund manager of Switzerland-based BB Biotech, reflects on an extraordinary year for the world at large and the healthcare sector in particular, and looks ahead to the challenges and opportunities for 2021.
Key points in the interview:
•How a COVID-19 vaccine has validated the investment case for Moderna, which BB Biotech bought pre-IPO in early 2018.
•Important clinical developments investors may have overlooked due to the all-encompassing nature of the pandemic.
•Why missed physician visits in 2020 could change the profile of the patient population in areas such as psychiatric medicine and oncology.
•Positive industry fundamentals owing to the pace of clinical innovation and a continued favourable regulatory backdrop.
BB Biotech was established in 1993 and is one of the largest specialist biotechnology funds, with a portfolio worth c CHF3.7bn (c £3.1bn). It focuses mainly on smaller and mid-cap companies that are changing the face of medicine through innovation and new technologies. Current areas of interest include genetic medicine (gene therapy and gene editing), where scientific advances are providing the chance of a normal life to patients with rare and serious conditions. The fund also pays a high distribution of c 5% of the average December share price.