Bachem Holding rises on two new peptide contracts

BACHEM HOLDING AG

20/09/2022 07:34

** Shares of Bachem Holding  BANB.S  are up 2.1% in
pre-market trade after the Swiss biotech supplier signs two new
contracts for peptides  urn:newsml:reuters.com:*:nFWN30Q211
    ** Order volumes will amount to 25 million Swiss francs in
2023 and 150 million Swiss francs in 2024, the company says
    ** "This is positive but also important and was partly
expected as Bachem is investing strongly in capex," Vontobel
says, adding the size of the new contracts is higher than it was
expecting
    ** The brokerage says it is increasing its 2024 revenue
expectations by 6%, but keeps 2023 unchanged

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))