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BB Biotech Jumps as Paul Singer Invests More in Swiss Fund

BB Biotech AG, a Swiss health-industry investment fund, jumped the most in more than two years after billionaire Paul Singer increased his stake in the company, one of the best-performing stocks in Europe last year.

Singer, who runs hedge-fund firm Elliott Management, raised his stake in the Kuesnacht, Switzerland-based company to 5.47 percent as of Dec. 23 from 3.11 percent previously, according to a filing at Swiss Six Exchange. Singer is known in Switzerland for his attempt to replace Actelion Ltd.’s board and seek a buyer for that company in 2011.