HBM Healthcare reports significant increase in half-year profit

HBM Healthcare Investments reported a significant increase in profit for the first semester of its 2026/27 fiscal year. Based on preliminary figures for the period from April to September, the healthcare-focused investment firm expects a profit of approximately 177 million Swiss francs, up from 96 million francs in the previous year.

Private equity holdings were the primary driver of this growth, contributing 138 million francs. Notable gains included a 74 million franc valuation increase from a financing round at US biotech firm Dren Bio and 32 million francs from Eli Lilly’s acquisition of Curevo Vaccine. Publicly traded holdings contributed 107 million francs, with positive developments from Natera, Harmony Biosciences, Argenx, and Indian holdings.

The net asset value (NAV) per share rose by 9.8 percent (dividend-adjusted) to 297.30 francs. While the share price increased by 7.8 percent to 233.50 francs, it remains trading at a discount of approximately 21 percent to its intrinsic value. Some losses were noted in Cathay Biotech and Oculis.