You are here

Buffett's Berkshire invests in four big drugmakers

nz_buffett_171149.jpg
Warren Buffett's Berkshire Hathaway said on Monday it has begun investing in the stocks of four large drugmakers.

[BENGALURU] Warren Buffett's Berkshire Hathaway said on Monday it has begun investing in the stocks of four large drugmakers.

In a regulatory filing detailing its US-listed investments as of Sept 30, Berkshire disclosed new stakes in Abbvie Inc, Bristol-Myers Squibb and Merck & Co of more than US$1.8 billion each, and a new US$136 million stake in Pfizer Inc.

Investors monitor Omaha, Nebraska-based Berkshire's quarterly filings to see where Mr Buffett and his portfolio managers Todd Combs and Ted Weschler see value.

Shares of the four drugmakers rose in after-hours trading, which often occurs when Berkshire discloses new investments, reflecting what investors view as Mr Buffett's imprimatur.

Berkshire did not say whether Mr Buffett made the investments, though larger investments are normally his.

Your feedback is important to us

Tell us what you think. Email us at btuserfeedback@sph.com.sg

The investments look similar to the multi-billion dollar stakes that Berkshire recently maintained in the four largest US airlines, before selling them in April amidst the coronavirus pandemic.

In Monday's filing, Berkshire also revealed a new US$276 million stake in wireless phone company T-Mobile US Inc.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes