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Positive Performance In Difficult Financial Markets

BB Biotech AG Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------

During the first half of 2008, BB BIOTECH's share price was flat in very difficult equity markets. In CHF, the share price declined 1.3%, in EUR BB BIOTECH's share price appreciated by 1.8% (including dividend). However, BB BIOTECH's Net Asset Value (NAV) increased by 7.8% (CHF). This positive performance was driven by the exceptionally strong performance of BB BIOTECH's holdings. It compares very well to the performance of similar asset classes. For example, BB BIOTECH's NAV outperformed the Nasdaq Biotech Index during the first half of 2008 by 24%, underscoring BB BIOTECH's long-term outperformance against general equity markets as well as against the biotech sector in total. Since its foundation in 1993, shareholders of BB BIOTECH have earned a compounded annual return of 9.9% (in CHF), which compares very favourably to most other financial assets during that time period. The strong performance of our holdings was able to offset the negative effects of the depreciating US Dollar. On the negative side, BB BIOTECH's share price didn't follow the positive development of the Net Asset Value, widening the difference to 12% at the end of the second quarter. Various measures, including significant share buyback programs, could not reverse the negative effects of weak capital markets. Due to our share buyback programs, BB BIOTECH's total assets, excluding treasury shares, declined by CHF 137 mn or 7.7% since the beginning of the year. We remain committed to keeping the share price of BB BIOTECH close to its Net Asset Value.

Several of our holdings achieved very strong performance during the reporting period. The share price of our holding Elan Corporation appreciated by 62% during the first 6 months of the year, based on the strong performance of its key products Tysabri and Bapineuzumab. Tysabri continues to gain market share, being the most efficacious, best tolerated and most convenient drug for treatment of multiple sclerosis. Elan and Wyeth reported first clinical Phase II results from its developmental product Bapineuzumab, their antibody for the treatment of Alzheimer's disease. Bapineuzumab has the potential to become the first therapy which could stop Alzheimer's disease in a significant proportion of patients.

The share price of Vertex Pharmaceuticals increased by 44% during the first half of 2008, driven by the strong clinical profile of Telaprevir, its new drug for treatment of hepatitis C. Vertex reported new data for Telaprevir at a prestigious conference, putting Telaprevir well ahead of all competing drugs. We are convinced that Telaprevir will improve the treatment of hepatitis C substantially and will become a multi-billion dollar product.

Our core holding Celgene, whose share price increased by 38% during the first half of the year, continued to achieve strong results, both in clinical development as well as commercially, with its core product Revlimid, which is becoming the drug of choice for the treatment of a number of different cancers.

Our core holdings Actelion, Gilead and Genentech delivered another strong performance based on strong product sales and solid progress in clinical development.

On the negative side, some of our small participations could not match the strong performance of our core holdings. In particular Keryx suffered a very significant setback when a pivotal Phase III trial of its leading drug failed.

We increased our positions in Jerini and Acambis significantly and reduced our holding in Elan Corporation due to valuation. We reduced some of our core holdings for portfolio reasons and in order to raise cash.

For the balance of the year we expect the positive development of our core holdings to continue. We are confident that we will be able to achieve our long-term double-digit return trajectory.

This is the composition of BB BIOTECH's Portfolio as at June 30, 2008 (in % of securities):

CORE HOLDINGS Actelion 26.4% Gilead 16.0% Celgene 15.3% Genentech 13.3% Vertex Pharmaceuticals 9.2%

SMALL PARTICIPATIONS Elan 5.9% Roche Holding GS 3.0% Biogen Idec 2.6% Zymogenetics 1.8% Affymetrix 1.1% Jerini 0.9% NicOx 0.8% The Medicines Company 0.8% BioXell 0.6% Rigel Pharmaceuticals 0.5% Incyte 0.4% Optimer Pharmaceuticals 0.3% Arena Pharmaceuticals 0.3% Acambis 0.3% Epigenomics 0.2% Keryx Biopharmaceuticals <0.1%

Genentech call option (long) 0.0% Biogen Idec call option (short) <(0.1%) SWAP agreement on treasury shares 0.3%

Total securities CHF 1 861.5 mn

Liquid funds (net) CHF (139.6) mn Other assets CHF 21.2 mn Other payables CHF (112.4) mn

Total shareholder's equity CHF 1 630.7 mn Treasury shares (in % of company) 23.6%

The Interim Report is available on www.bbbiotech.com.

For further information please contact: Bellevue Asset Management AG, Seestrasse 16, 8700 Kusnacht, Switzerland Anja Stubenrauch, Tel. +41 44 267 67 00

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BB Biotech AG Vordergasse 3 Schaffhausen Switzerland

WKN: 888509; ISIN: CH0001441580 ; Index: Prime All Share, MIDCAP, TECH All Share, TecDAX, HDAX; Listed: Geregelter Markt in Frankfurter Wertpapierbörse;

LINK: http://hugin.info/136834/R/1239317/265398.pdf

LINK: http://hugin.info/136834/R/1239317/265401.pdf

BB Biotech AG

www.bbbiotech.com

ISIN: CH0001441580
Stock Identifier: XFRA.BBZ

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