BB Biotech AG

Quarterly Report • Oct 28, 2005

Quarterly Report as at September 30, 2005

for the Shareholders of BB BIOTECH

BB BIOTECH AG

Quarterly Report

Letter to the Shareholders	4
Key figures	5
Participations as at September 30, 2005	6
Consolidated quarterly statements	7–8
Selected explanatory notes to the consolidated quarterly statements	9–11
Corporate Governance	12
Shareholder information	13

Dear Shareholders

During third quarter 2005, drugs developed and marketed by biotech companies continued to be successful on the market place. The most outstanding result was reported by Amgen, the bellwether of the industry, driven by the strong performance of its key products Aranesp and Neupogen, for the treatment of anaemia and neutropenia, respectively. Following the second quarter earnings announcement, the share price of Amgen appreciated by 30%, pushing Amgen's market cap close to USD 100 bn and stimulating interest for the sector. Together with Genentech, the second largest biotech company, Amgen plays in the top league of the global healthcare industry.

Within the quarter, BB BIOTECH's Net Asset Value (NAV) increased by 10%. However, BB BIOTECH's share price did not follow the NAV to that extent and climbed by only 6%, ending the quarter at CHF 73.75. As a result, the discount between share price and NAV temporarily widened to 17%. We continue our efforts to reduce the gap between NAV and share price.

The biggest contribution to BB BIOTECH's performance was generated by our holding in Celgene, which appreciated by 33% during the quarter. Celgene's outstanding performance was driven by the development of its core product Revlimid, which is well on its way towards approval. The application for approval of Revlimid for treatment of Myelodysplatic Syndrome was reviewed by a panel of independent experts who expressed their enthusiasm about the efficacy of the drug and voted by majority in favor for an approval of the drug. However, the regulatory authority (FDA) asked additional questions about a surveillance system to monitor the patients and extended the review period by three months. Though the approval of Revlimid is now slightly delayed and is expected for the end of the year, we value Revlimid as a very efficacious drug for treatment of various types of hematological cancer and are looking forward to the strong launch of the drug.

The second biggest contribution to our performance was generated by Amgen, followed by Genzyme, driven by strong sales of their core products.

During the quarter, we increased our participation in Biogen Idec because of our increased confidence in the prospects of the company. In particular, we are confident that Tysabri, the new drug for treatment of Multiple Sclerosis (MS), developed by Biogen Idec and Elan Pharmaceuticals, will become re-available for patients eventually. The drug could make a big difference for the life of many patients suffering MS who can not be adequately treated with existing therapies, provided that a possible drug related incidence of progressive multifocal leucoencephalopathy (PML) can be controlled. The safety review of the data from the MS patients, enrolled in prior Tysabri trials, was finished in September 2005. Biogen Idec, together with its partner Elan Pharmaceuticals, filed a supplemental Biologic License Application (sBLA) with the FDA, seeking to re-launch the drug with a revised label.

In addition, we acquired new positions in Anadys and Vertex. Both companies are developing new promising drugs for the treatment of Hepatitis C. Anadys' approach might replace interferons as the backbone of the current therapy of that difficult to treat disease. Vertex is developing an inhibitor of a key enzyme of Hepatitis C virus, called protease. Vertex's drug has shown very promising results in early clinical studies. If the early signs of efficacy and safety of the drug can be confirmed in larger clinical trials, the drug could be used in combination with interferon-like drugs and could improve therapy of Hepatitis C significantly.

We reduced our positions in Genentech, Actelion and Theravance, predominantly for valuation reasons.

For the balance of the year we are looking forward to the approval and launch of important drugs developed by our portfolio companies, like Celgene's Revlimid or Sepracor's new metered dose inhaler (MDI) formulation of its successful asthma drug Xopenex. We also expect a strong news flow of clinical data presented at the major clinical conferences between October and December.

We thank you for your support.

The Board of Directors of BB BIOTECH AG

Prof. Dr. med. Thomas Szucs Chairman

Prof. Dr. David Baltimore

Dr. Clive Meanwell

Key figures

Performance

Performance dividend-adjusted

Portfolio as at 09/30/2005

Securities:			CHF 2 104 mn
Gilead	18%	Celgene	16%
Biogen Idec	12%	Sepracor	11%
Actelion	8%	Genzyme	7%
The Medicines Company	6%	Small participations	22%

Multi-year comparison BB BIOTECH

	12 months	2004	2003	2002	2001
Market capitalization at end of period (in CHF mn)	1 895.4	1 796.4	1 750.0	1 579.0	3 495.9
Net Asset Value at end of period (in CHF mn)	2 099.0	1 914.4	1 939.2	1 765.3	3 434.2
Number of shares (in mn)	25.7	25.7	27.8	27.8	27.8
Trading volume (in CHF mn p.a.)	1 540.6	1 853.0	1 796.0	1 766.0	3 287.0
Profit/(loss) (in CHF mn)	224.7	202.8	179.3	(1 591.3)	(791.0)
Closing price at the end of the period in CHF	73.75	69.90	62.95	56.80	125.75
Closing price (D) at the end of the period in EUR	47.30	44.51	40.15	38.96	83.50
Closing price (I) at the end of the period in EUR	47.31	45.05	40.65	38.10	83.28
Stock performance (incl. dividend)	12.6%	14.6%	10.8%	(54.8%)	(28.6%)
High/low share price in CHF	76.90/63.85	79.80/58.70	74.75/47.00	125.75/49.80	176.00/81.50
High/low share price in EUR	49.00/41.59	51.20/37.90	48.40/31.66	83.50/33.60	116.50/55.15
Premium/(discount) (annual average)	(12.6%)	(15.2%)	(18.8%)	(10.7%)	1.2%
Dividend (in CHF)	nm	2.40	2.50	–	–
Degree of investment (quarterly figures)	99.3%	97.8%	94.0%	90.3%	96.8%
Total Expense Ratio (TER) p.a.	0.63%	0.63%	0.64%	1.67%	3.75%
– of which performance-related remuneration	0.00%	0.00%	0.00%	1.10%	3.16%

Participations as at September 30, 2005

Company	Number of securities	Change since 06/30/2005	Local currency	price	Share Market value in CHF mn	In % of portfolio	In % of company
Gilead	5 908 900	–	USD	48.76	372.5	17.7%	1.3%
Celgene	4 850 000	–	USD	54.32	340.6	16.2%	2.9%
Biogen Idec	5 000 000	1 844 000	USD	39.48	255.2	12.2%	1.5%
Sepracor	3 100 000	363 900	USD	58.99	236.4	11.3%	2.9%
Actelion	1 216 532	–420 002	CHF	139.50	169.7	8.1%	5.5%
Genzyme	1 591 000	–	USD	71.64	147.4	7.0%	0.6%
The Medicines Company	4 530 600	–53 552	USD	23.01	134.8	6.4%	9.1%
Amgen	1 050 000	–	USD	79.67	108.2	5.2%	0.1%
Genentech	940 000	–910 000	USD	84.21	102.3	4.9%	0.1%
OSI Pharmaceuticals	2 200 000	437 858	USD	29.24	83.2	4.0%	4.3%
Theravance	1 182 367	–550 000	USD	21.04	32.2	1.5%	2.7%
Elan	2 400 000	400 000	USD	8.86	27.5	1.3%	0.6%
Anadys Pharmaceuticals	1 873 700	1 873 700	USD	10.67	25.8	1.2%	7.1%
Incyte	3 000 000	–	USD	4.70	18.2	0.9%	3.6%
Vertex Pharmaceuticals	587 757	587 757	USD	22.35	17.0	0.8%	0.6%
Epigenomics	1 000 000	–	EUR	8.13	12.6	0.6%	6.1%
Auxilium Pharmaceuticals	556 150	–243 850	USD	4.98	3.6	0.2%	1.9%
BioXell1)	1 887 505	–	EUR	5.30	15.6	0.7%	9.5%
Total					2 102.8	100.2%
Derivates
Auxilium Pharmaceuticals warrants (long)	300 300	–	USD	2.34	0.9	<0.1%
Total					0.9	<0.1%
Liquid funds (net)					–4.2	–0.2%
Total					2 099.5	100.0%
BB BIOTECH bearer shares2)	1 961 108	160 854	CHF		144.6		6.9%
Total					2 244.1

1) Unlisted company

2) Correspond to the total of all own shares held in Switzerland, Germany and Italy. Closing prices see at page 5.

Exchange rates as at 09/30/2005: USD/CHF: 1.2929 EUR/CHF: 1.5556

Consolidated balance sheet (in CHF 1 000, not audited)

Assets	09/30/2005	12/31/2004	Liabilities and shareholders' equity	09/30/2005	12/31/2004
Current assets			Current liabilities
Liquid funds	2 288	36 251	Short-term borrowing from banks	18 000	–
Receivables from brokers	16 144	4 491	Payables to brokers	4 641	2 491
Marketable securities	2 103 708	1 877 271	Other short-term liabilities	481	1 067
Other assets	20	4	Tax provisions	64	29
	2 122 160	1 918 017		23 186	3 587
			Shareholders' equity
			Share capital	25 700	25 700
			Treasury shares	(1 961)	(1 865)
			Additional paid-in capital	1 188 292	1 188 292
			Retained earnings	886 943	702 303
				2 098 974	1 914 430
Total assets	2 122 160	1 918 017	Total liabilities and shareholders' equity	2 122 160	1 918 017
Net Asset Value per share in CHF	88.42	80.32

The selected explanatory notes on pages 9 to 11 are an integral part of these consolidated financial statements.

Consolidated statement of income for the period ended September 30 (in CHF 1 000, not audited)

	01/01–09/30/2005	01/01–09/30/2004	07/01–09/30/2005	07/01–09/30/2004
Operating income
Gains from marketable securities	258 926	234 740	199 034	–
Interest income	187	89	81	9
Dividend income	–	239	–	–
Foreign exchange gains net	75	3 237	–	172
Other income	228	55	223	–
	259 416	238 360	199 338	181
Operating expenses
Losses from marketable securities	–	–	–	101 998
Interest expenses	10	21	1	12
Foreign exchange losses net	–	–	1 161	–
Administrative expenses	5 906	6 273	2 111	1 945
Other expenses	2 786	3 244	818	454
	8 702	9 538	4 091	104 409
Operating income/(loss) before tax	250 714	228 822	195 247	(104 228)
Tax expenses	82	94	54	–
Net income/(loss) for the period	250 632	228 728	195 193	(104 228)
Gain per share in issue and
diluted gain per share in issue in CHF	10.53	8.96
Average outstanding shares	23 798 491	25 526 780

The selected explanatory notes on pages 9 to 11 are an integral part of these consolidated financial statements.

Consolidated quarterly statements

Consolidated statement of changes in equity for the period ended September 30

(in CHF 1 000, not audited)

	Share capital	Treasury shares	Additional paid-in capital	Retained earnings	Total
Balances at January 1, 2004	27 800	(1 826)	1 188 292	724 951	1 939 217
Dividend	–	–	–	(62 845)	(62 845)
Capital reduction	(2 100)	2 100	–	–	–
Trade with treasury shares (incl. balance change)	–	(1 753)	–	(137 070)	(138 823)
Net gain for the period	–	–	–	228 728	228 728
Balances at September 30, 2004	25 700	(1 478)	1 188 292	753 764	1 966 278
Balances at January 1, 2005	25 700	(1 865)	1 188 292	702 303	1 914 430
Dividend	–	–	–	(57 201)	(57 201)
Trade with treasury shares (incl. balance change)	–	(96)	–	(8 791)	(8 887)
Net gain for the period	–	–	–	250 632	250 632
Balances at September 30, 2005	25 700	(1 961)	1 188 292	886 943	2 098 974

The selected explanatory notes on pages 9 to 11 are an integral part of these consolidated financial statements.

Consolidated statement of cash flow for the period ended September 30 (in CHF 1 000, not audited)

	01/01–09/30/2005	01/01–09/30/2004
Cash flows from operating activities
Proceeds from sales of securities	562 853	821 733
Purchase of securities	(530 363)	(618 220)
Trade with treasury shares (incl. balance change)	(8 887)	(138 823)
Dividends	–	275
Interest receipts	171	87
Interest payments	(10)	(21)
Payments for services	(9 051)	(10 208)
Taxes paid	(47)	(133)
Total cash from operating activities	14 666	54 690
Cash flows from financing activities
Dividends	(57 201)	(62 845)
Loans	18 000	13 000
Receivables from/payables to brokers net	(9 503)	(14 338)
Total cash from financing activities	(48 704)	(64 183)
Foreign exchange difference	75	3 237
Decrease in cash and cash equivalents	(33 963)	(6 256)
Cash and cash equivalents at beginning of year	36 251	7 666
Cash and cash equivalents at end of period	2 288	1 410
Liquid funds	2 288	1 410
Cash and cash equivalents at end of period	2 288	1 410

The selected explanatory notes on pages 9 to 11 are an integral part of these consolidated financial statements.

Selected explanatory notes to the consolidated quarterly statements

1. The Company and its principal activity

BB BIOTECH AG (the Company) is listed on the Swiss Stock Exchange, in the Prime Standard Segment of the German Exchange as well as on the "Star Segment" in Italy and has its registered office in Schaffhausen, Vordergasse 3. Its principal activity is to invest in companies active in the biotechnology industry. The Company holds these investments indirectly via the wholly owned subsidiaries BIOTECH FOCUS N.V., BIOTECH INVEST N.V., BIOTECH TARGET N.V. and BIOTECH GROWTH N.V. All subsidiaries are domiciled in Curaçao.

2. Accounting policies

General

The consolidated interim financial statements are prepared in accordance with International Accounting Standard (IAS) 34, "Interim Financial Reporting", as well as the provisions of the Additional Rules of the SWX Swiss Exchange for the Listing of Investment companies. With the exception of financial assets and liabilities, the financial statements are prepared on a historical cost basis. The consolidated interim financial statements are drawn up in accordance with IFRS. This requires management to make assumptions and estimates that have an impact on the balance sheet values and items of the income statement in the current financial year. In certain circumstances, the actual values may diverge from these estimates. As at January 1, 2005 there are new and existing revised IAS Standards to be adopted. The company has consequently adopted all relevant and below-mentioned Standards since January 1, 2005. In all other respects, the same accounting principles apply as used for the 2004 consolidated financial statements.

New and existing revised IAS Standards adopted by the Company since January 1, 2005:

• IAS 1 (revised 2003) Presentation of Financial Statements
• IAS 8 (revised 2003) Accounting Policies
• IAS 10 (revised 2003) Events after the Balance Sheet Date
• IAS 21 (revised 2003) The Effects of Changes in Foreign Exchange Rates
• IAS 24 (revised 2003) Related Party Disclosures
• IAS 28 (revised 2003) Investments in Associates
• IAS 32 (revised 2003) Financial Instruments: Disclosure and Presentation
• IAS 33 (revised 2003) Earnings per Share
• IAS 36 (revised 2003) Impairment of Assets
• IAS 39 (revised 2003) Financial Instruments: Recognition and Measurement

There are no substantial effects and changes in the accounting policies due to the adoption of the new and existing revised IAS Standards.

In connection with the Standards IAS 28 and IAS 39 we refer to the following chapter "Marketable securities".

Basis of consolidation

The consolidated interim financial statements include the Company and the subsidiary companies, which are controlled by it. Control is defined as ownership, either directly or indirectly, of more than 50% of the voting rights of a company's share capital. The consolidation is performed using the purchase method. All intercompany transactions and balances with companies included in the consolidation are eliminated. All Group companies have a September 30 period end.

Reporting currency

The accounts of the companies are maintained in Swiss Francs. Transactions in foreign currencies are converted at exchange rates as at transaction dates. Assets and liabilities in foreign currencies at the end of the period are translated at rates of exchange prevailing as at the balance sheet date. Exchange differences are reflected in the statement of income.

Marketable securities

Securities and derivatives are valued according to IAS 39 and classified as held at fair value through profit and loss. Initially securities and derivatives are recognized at cost including transaction costs and are subsequently remeasured at fair value based on quoted market prices or generally accepted valuation models. Realized gains and losses on security trading are recognized in the statement of income as net realized gains/losses from marketable securities at the day of the transaction. Changes in fair value of securities are recognized as net unrealized gains/losses from marketable securities in the statement of income in the period in which they arise.

Based on the exemption in IAS 28 for Venture Capital Organizations, Mutual Funds and similar entities Investments in Associates are treated in accordance with IAS 39.

Treasury shares

Own shares and derivative instruments on own shares are deducted from shareholders' equity. On the other hand a short position of own shares increases shareholders' equity. All profits and losses arising from trading in own shares are directly credited/debited to retained earnings.

Selected explanatory notes to the consolidated quarterly statements

3. Marketable securities (in CHF 1 000)

A detailed breakdown of the securities held on September 30, 2005 can be found on page 6 of this report.

Change in value by investment category from January 1, 2005 to September 30, 2005 (incl. securities short)

	Listed shares	Unlisted shares	Derivative instruments	Total
Opening balance as at 01/01/2005 at fair values	1 842 758	15 459	19 054	1 877 271
Purchase	530 363	–	–	530 363
Sales	(562 853)	–	–	(562 853)
Reclassification1)	14 314	–	(14 314)	–
Realized gains	141 117	–	–	141 117
Realized losses	(162 590)	–	(1 224)	(163 814)
Unrealized gains	465 478	97	–	465 575
Unrealized losses	(181 345)	–	(2 607)	(183 952)
Net (losses)/gains from marketable securities	262 660	97	(3 831)	258 926
Closing balance as at 09/30/2005 at fair values	2 087 242	15 556	910	2 103 708

1) Cashless exercise TMC Warrants (12 295) and exercise ViroLogic warrants (2 019)

4. Shareholders' equity

The share capital of the Company consists of 25.7 mn fully paid bearer shares (12/31/2004: 25.7 mn) with a par value of CHF 1 each (12/31/2004: CHF 1).

From 01/01/2005 through 09/30/2005 3 179 936 shares were purchased at an average price of CHF 70.05, and 3 084 198 shares were sold at an average price of CHF 69.30.

As at 09/30/2005 there exists an authorized capital of CHF 12.5 mn (12/31/2004: CHF 12.5 mn) and a conditional capital of CHF 12.5 mn (12/31/2004: CHF 12.5 mn).

5. Administrative expenses (in CHF 1 000)

Administrative expenses comprise the following:

	01/01–09/30/2005	01/01–09/30/2004
Asset manager
– Fixed fees portion	5 344	5 682
Board of Directors remuneration
– Fixed fees portion	534	568
– Social security employer's contribution	28	23
	5 906	6 273

The remuneration model of BB BIOTECH AG ensures that the interests of the shareholders, the asset manager and the Board of Directors are all the same. Remuneration therefore depends on the share price and is made up of a flat fee component and a performance-related fee component. The Board of Directors receives remuneration in an amount of 10% of the remuneration of the fees paid to the manager.

Flat fee component

This amounts to 0.4% of market capitalization annually and is calculated as at the end of each quarter pro rata temporis on the basis of the closing price of the stocks traded on the Swiss Stock Exchange.

Performance-related fee

The performance-related fee is calculated quarterly and amounts to 0.19% of the market value at the end of the previous period in the case of an increase in the stock price of 5 to 10% per annum (p.a.), an additional 0.25% in the case of an increase of 10 to 15% p.a., and an additional 0.31% in the case of an increase of 15 to 20% p.a. The price basis or hurdle for the performance-related pay component rises after each quarter with the percent value on which a performance-related pay component was calculated, though by a minimum of 5% p.a. and a

Selected explanatory notes to the consolidated quarterly statements

maximum of 20% p.a. The hurdles are calculated separately for each group of capital (i.e. the capital increases at different times and prices) from the day of their initial listing.

Because of the minimum/maximum performance and calculation being done over the lifetime, it can occur that the applicable market value at the end of a weak quarter is still above the price basis for a performance-related fee. Conversely, a period with above-average growth in the market value will not result in performance-related pay if the hurdles are not exceeded.

For the end of the next quarter (12/31/2005) the hurdle rates for payment of a performance-related fee will be as follows:

• 18 026 978 shares (70.1% of the Company): CHF 93.62
• 3 697 842 shares (14.4%): CHF 100.62
• 924 460 shares (3.6%): CHF 104.05
• 1 571 583 shares (6.1%): CHF 219.47
• 1 479 137 shares (5.8%): CHF 225.86

On April 28, 2005 a resolution was passed at the General Shareholders' Meeting to pay out a dividend of CHF 2.40 per bearer share; the payout in question was made on April 29, 2005. Subsequently, the levels at which performance-related compensation is to be paid were also adjusted downward by CHF 2.40 as at April 29, 2005.

6. Information by geographical area (in CHF 1 000)

Assets	09/30/2005	12/31/2004
USA	1 893 655	1 574 656
Switzerland	172 116	252 131
Ireland	27 492	62 157
Italy	16 041	15 750
Germany	12 783	13 258
Great Britain	73	65
	2 122 160	1 918 017

Gain/(loss) from marketable securities	01/01–09/30/2005	01/01–09/30/2004
USA	257 025	253 177
Switzerland	41 398	(13 398)
Italy	97	–
Germany	(524)	(1 642)
Ireland	(39 070)	(3 397)
	258 926	234 740

7. Assets pledged

The securities are a collateral for credit lines of CHF 200 mn and USD 140 mn (12/31/2004: CHF 200 mn and USD 140 mn). At September 30, 2005 the Group has claimed credits of CHF 18 mn at 1.13% (12/31/2004: none).

8. Commitments, contingencies and other off-balance sheet transactions

The Group had no commitments or other off-balance sheet transactions open at September 30, 2005 (12/31/2004: none). The operations of the Group are affected by legislative, fiscal and regulatory developments for which provisions are made where deemed necessary. Management concludes that as at September 30, 2005 no proceedings existed which could have any material effect on the financial position of the Group (12/31/2004: none).

9. Subsequent events

There have been no events subsequent to September 30, 2005 which would affect the consolidated interim financial statements.

Corporate Governance

Board of Directors and shareholdings of the Board of Directors

Prof. Dr. med. Thomas D. Szucs (2003), Chairman (2004), Switzerland. Co-Chairman of the European Center of Pharmaceutical Medicine. 1 650 shares (ditto as at 06/30/2005).

Prof. Dr. David Baltimore (1993), Vice Chairman (2004), USA. President of the California Institute of Technology, Nobel laureate. No shares. Dr. Clive Meanwell (2004), USA. Executive Chairman and Director of The Medicines Company. No shares.

Asset Management

The Bellevue Asset Management Group has the mandate for fundamental analysis, portfolio management, marketing and administration of BB BIOTECH.

Auditors

PricewaterhouseCoopers AG, Zug

A detailed Corporate Governance report is published in the annual report.

Shareholder information

Company profile

BB BIOTECH acquires holdings in companies in the biotechnology growth market and is currently one of the world's largest investors in the sector. The focus of the holdings is on quoted companies that are concentrating on the development and marketing of innovative medicines. For the selection of holdings, BB BIOTECH relies on fundamental analysis by physicians and molecular biologists. The Board of Directors has many years of industrial and scientific experience.

Official listing and share structure Foundation: November 9, 1993; Schaffhausen, Switzerland Issue price adj. November 15, 1993: CHF 23.76 Official listing: December 27, 1993 on the Swiss Stock Exchange December 10, 1997 on the German Stock Exchange, as of 2003 in the Prime Standard Segment (TecDax) October 19, 2000 on the "Nuovo Mercato" in Italy, as of 2005 in the Star Segment Share structure: CHF 25.7 mn nominal, 25 700 000 bearer shares with a par value of CHF 1 Authorized capital: CHF 12.5 mn Conditional capital: CHF 12.5 mn Shareholders, free float: Institutional and private investors. 100% free float Security number Switzerland: 144.158 Security number in Germany and Italy: 888 509 ISIN: CH0001441580

Shareholder information

The Company publishes its Net Asset Value daily via the major stock market information services (Reuters, Bloomberg, the Swiss financial news agency AWP, the German news service VWD) and on its website www.bbbiotech.com.

• The portfolio composition is published at least every three months within quarterly reports.
  • In its Monthly News, BB BIOTECH announces major events relating to its investments.
• In addition, we periodically hold information events for shareholders and interested members of the public.
• Interested? Subscribe to our mailing list by post/fax/telephone or via www.bbbiotech.com.

Quotes and reports

NAV:	in CHF	– Bloomberg: BIO SW Equity NAV, BABB – Datastream: S:BINA	in EUR	– Bloomberg: BBZ GY Equity NAV; BABB – Datastream: D:BBNA
		– Reuters: BABB		– Reuters: BABB
		– Telekurs: BIO resp. 85, BB1 (Investdata)		– Frankfurter Allgemeine Zeitung (D):
		– Finanz & Wirtschaft (CH), M2: listed twice weekly		listed twice weekly
Stock price:	in CHF (SWX)	– Bloomberg: BIO SW Equity	in EUR (Xetra)	– Bloomberg: BBZ GY Equity
		– Datastream: S:BIO		– Datastream: D:BBZ
		– Reuters: BIO.S		– Reuters: BIOZ.DE
		– Telekurs: BIO	in EUR (IM)	– Bloomberg: BBA IM Equity

Corporate calendar 2006

Prel. Report & Portfolio 2005:	January 26, 2006, 07.30 AM CET
Annual Report 2005:	March 9, 2006, 07.30 AM CET
Annual General Meeting:	April 20, 2006, 04.00 PM, Lake Side Casino Zürichhorn, Bellerivestrasse 170, CH-8008 Zurich
3 Months Report:	April 27, 2006, 07.30 AM CET

– Datastream: I:BBB – Reuters: BB.MI

Contact for investors and media

Bellevue Asset Management AG, Seestrasse 16, CH-8700 Küsnacht, Phone +41 44 267 67 00, Fax +41 44 267 67 01, info@bellevue.ch

BB BIOTECH AG Vordergasse 3, CH-8200 Schaffhausen www.bbbiotech.com

Seestrasse 16/P.O. Box, CH-8700 Küsnacht Phone +41 44 267 67 00, Fax +41 44 267 67 01 Internet: http://www.bellevue.ch E-Mail: info@bellevue.ch