NMT redefines core as Net Asset Value declines

Swiss NMT New Medical Technologies has reported a decline of 7.8% in its Net Asset Value for the first quarter of 2002. In response NMT will be looking again at its investments in the public sector and streamlining its core holdings. The poor performance has been blamed on increases in unrealised losses in the public portfolio, and a fall in company valuations in the biotechnology sector resulting from failures in clinical trials and delays in approvals for new drugs. Other contributing factors were uncertainty in the financial markets and an adverse climate for healthcare stocks.

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• Topics
• DACH
• Healthcare