BB BIOTECH sells 2.06 mn shares to Deutsche Bank

5/15/2007, 7:15 PM (Source: GlobeNewswire)
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As announced on May 14, 2007, BB BIOTECH AG has sold through its
wholly-owned subsidiary BIOTECH Target N.V., 2.06 mn treasury shares
to Deutsche Bank, London, as underlying for the emitted mandatory
exchangeable bond. The gross sales price is CHF 95.2901 and is
calculated at the average of the volume weighted average prices of
the shares from May 14 and May 15, 2007. The issue size of the
mandatory exchangeable bond, issued by Deutsche Bank, London, is CHF
200 mn, with a coupon of 3.0% p.a. The issue date will be on May 18,
2007 with a maturity date of May 18, 2012.

Through the sale of treasury shares, BIOTECH Target N.V. builds up a
short position of 1.1 mn shares which may later be covered by a
capital increase, particularly if shares of BB BIOTECH trade at a
premium to their NAV (Net Asset Value). Shares may also be purchased
by BIOTECH Target N.V. in the open market.

The admission of the bond will be made to the Euro MTF Market of the
Luxembourg Stock Exchange (ISIN XS 0301570288).

For further information please contact:
Bellevue Asset Management AG, Seestrasse 16, 8700 Küsnacht,
Anja Stubenrauch or Dr. Christian Lach, Tel. +41 44 267 67 00

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Vordergasse 3 Schaffhausen Switzerland

WKN: 888509;
ISIN: CH0001441580; Index: SBIOM, IGSP, SLIFE;
Listed: Investment Companies in SWX Swiss Exchange;
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