The investment company, run by billionaire investor Warren Buffett, bet $ 5.7 billion on pharmaceutical companies in the third quarter of this year, or more than 115 billion crowns. Reason? The industry is at the heart of the fight against the coronavirus pandemic, says Berkshire Hathaway.
–
The company bought shares in pharmaceutical companies AbbVie, Pfizer, Bristol Myers Squibb and Merck, according to the US regulatory authority, between July and September this year. She has invested about $ 2 billion in each. Pfizer then invested another $ 140 million.
–
Buffett can thus credit another successful investment for good. According to Bloomberg, the pharmacy ranked the 90-year-old trader in eighth place in the index of the richest, with a net worth of $ 88 billion.
–
Buffett’s bet on the American pharmaceutical industry is considered a step in the right direction by experts as well. A good sign, according to Bloomberg analysts, is the announcement by Pfizer and Moderna in Buffett’s investment that their preliminary research suggests that covid-19 vaccines both work by more than 90 percent.
–
However, Apple still holds the largest share in Berkshire’s equity portfolio, with a value of almost $ 114 billion (2.5 trillion crowns). But there, the billionaire recently lost 36.3 million shares.
–
In addition to Apple, Berkshire sold part of its investments in Wells Fargo and JP Morgan. It also divested part of its stake in the dialysis service provider DaVita and in the mining company Barrick Gold.
–
On the contrary, it increased its stake in some already owned companies, such as Bank of America, the Kroger retail chain or General Motors, and bought shares in the mobile operator T-Mobile US.
–
The announcement of Buffett’s investment in 2.41 million shares of T-Mobile US for about $ 276 million significantly raised their price after the close of trading. T-Mobile US, like the Czech T-Mobile, is a member of the international Deutsche Telekom Group.
–
Berkshire Hathaway’s investments are being watched with interest by investors around the world. The SEC data does not show whether all the announced transactions were made by Buffett himself, who is in charge of the company’s largest investments such as Coca-Cola, Apple and Bank of America. Now, the 90-year-old star investor previously said that investments under $ 1 billion are often made by two other Berkshire investment managers.
—
