Executive Interview – International Biotechnology Trust

International Biotechnology Trust (IBT) provides investors with exposure to biotechnology and other life sciences companies through quoted (88%) and unquoted investments (12%). The healthcare and biotech sectors benefit from a favourable demographic backdrop with increasing demand from ageing populations, particularly in the western world, and growth in population and utilisation, particularly in emerging markets. The manager aims to select companies that have experienced management and strong potential growth through the development or commercialisation of a product, device or enabling technology.
Carl Harald Janson of SV Life Sciences Managers, manages the quoted portfolio in IBT. In this interview he outlines the type of businesses in which IBT invests and how the products these companies develop meet healthcare needs and deliver returns to shareholders. Carl also discusses how the industry has moved on from the bubble years around 2000 when valuations became detached from reality; he believes there is now a much firmer basis for valuation. Within the IBT fund over 60% of companies are profitable, a figure that rises to about 70% looking ahead to 2015.