Biotech firms get boost from pandemic on Warsaw Stock Exchange

Rafał Guz/PAP

Biotechnology companies quoted on the Warsaw Stock Exchange have seen their valuation increase most among all listed companies during the coronavirus pandemic, a report by accountancy firm Grant Thornton has found.

The capitalisation of biotechnology companies increased by 36 percent between the first quarter of 2020, when the coronavirus pandemic started, and the first quarter of 2021.

Their average earnings before interest, tax, depreciation and appreciation gauge, the so-called EBITDA, surged by an astonishing 5,602 percent in the same period.

A number of companies have signed contracts with hospitals for the sale of their products, and research and development work into Covid-19 drugs and vaccines. Others have delivered blood plasma to hospitals and specialist face masks.