HBM Healthcare Investments Reports Half-Year Profit Despite Currency Challenges

HBM Healthcare Investments AG revealed a profit of CHF 96 million for the first half of the 2025/2026 financial year. Despite adverse currency conditions, the company's net asset value (NAV) increased by 6.1%, and its share price rose by 4.0%, though still trading at a discount to NAV.

The strength of public portfolio companies contributed to the profit, with acquisitions like Genmab's purchase of Merus and Roche's bid for 89Bio. These transactions, along with positive developments at companies such as Abivax and Upstream Bio, offset currency impacts totaling CHF 101 million.

Meanwhile, private companies exerted a negative earnings impact due to currency fluctuations, partly mitigated by Swixx BioPharma's performance, which included a CHF 31 million valuation increase. Despite some value adjustments, cash reserves rose to 8% of assets, indicating a bolstered position.