BioPharma Credit expects pipeline growth as net asset value ticks up
BioPharma Credit PLC on Monday said net asset value increased, while the net income for the first half of the year substantially covered its annual dividend target.
The London-based closed-ended investment company focused on the life sciences industry said net asset value per ordinary share increased 1.1% to 101.86 US cents at the end of June from 100.74 cents a year ago.
The return on ordinary activities after costs and taxation for the first half of 2025 was $72.8 million, up 1.4% from $71.8 million.
Since the end of the period, BioPharma Credit has declared ordinary and special dividends which bring the total distributions to date to 6.75 cents per share, made up of three quarterly dividends of 1.75 cents and a special dividend worth 1.50 cents.
The company currently pays four quarterly dividends of 1.75 cents per share, along with special dividends in the third and fourth quarters to satisfy the requirement to distribute all the income it generates.
BioPharma Credit said its net income per share of 6.33 cents for the first half of the year ‘substantially covers’ the 7.00 cent dividend target.
‘The company has continued to demonstrate resilience and stability through recent global events in an active period for the portfolio including $144.2m deployed in new investments and $87.5 million deployed post period end,’ said Pedro Gonzalez de Cosio, chief executive officer of Pharmakon Advisors LP, the investment manager of BioPharma Credit.
‘We expect our investment pipeline to grow as new products enter the market in the second half of 2025 and remain focused on our mission of creating the premier dedicated provider of debt capital to the life sciences industry while generating attractive returns and sustainable income to investors.’
Shares in BioPharma Credit were down 0.3% at 92 US cents in London on Monday morning.
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