Biotech Growth Trust PLC (The) Edison issues review on The Biotech Growth Trust
September 09 2021 - 2:00AM
RNS Non-Regulatory
TIDMBIOG
Biotech Growth Trust PLC (The)
09 September 2021
London, UK, 9 September 2021
Edison issues review on The Biotech Growth Trust (BIOG)
The Biotech Growth Trust (BIOG) is managed by Geoff Hsu of
OrbiMed Capital, which is a specialist healthcare investor with 11
offices across the globe including in Hong Kong and Shanghai. The
manager remains very positive on the outlook for the biotech sector
primarily due to the current elevated level of industry innovation
that he refers to as a 'golden era'; the number of late-stage
pipeline products increased by 50% between 2015 and 2020. He also
believes that biotech stocks will be supported by ongoing merger
and acquisition (M&A) activity, levels of which have remained
robust despite the pandemic as there is high demand from larger-cap
healthcare companies seeking to boost their pipelines.
BIOG's shares are currently trading at a 7.5% discount to
cum-income NAV, which compares to a range of a 3.5% premium to an
8.4% discount over the last 12 months and is wider than the 0.6% to
5.2% range of average discounts over the last one, three, five and
10 years. There is potential for a narrower discount if the trust's
FY22 performance improves or if there is an increased focus on the
biotech industry's positive fundamentals.
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