Warren Buffett invests billions of dollars in pharmaceutical stocks

Warren Buffett invests billions of dollars in pharmaceutical stocks
Warren Buffett invests billions of dollars in pharmaceutical stocks

Warren Buffett

In the third quarter, Buffets conglomerate Berkshire Hathaway bought back $ 9 billion worth of shares – more than ever before.

(Photo: dpa)

Denver Warren Buffett is betting on pharmaceutical stocks. The head of conglomerate Berkshire Hathaway invested a total of $ 5.7 billion in four drug manufacturers in the third quarter: AbbVie, Bristol-Myers Squibb, Merck and Pfizer. This emerges from a mandatory notification to the US Securities and Exchange Commission on Monday evening. The entry at Merck and Pfizer is new. Berkshire had previously held stakes in AbbVie and Bristol-Myers, but increased the shares.

Buffett was able to benefit from the latest good news regarding the corona vaccine. Pfizer reported promising study results last week which boosted both the company’s stock and stocks as a whole. Merck is also working on a corona vaccine.

For Buffett, it’s the first time in years that he’s back in the healthcare sector. The stakes are relatively small, however: Berkshire now owns 1.3 percent of Bristol-Myers, 1.2 percent of AbbVie, 0.9 percent of Merck and less than 0.1 percent of Pfizer. Berkshire’s $ 245 billion portfolio already includes stocks in Biogen, Johnson & Johnson, Teva, and DaVita.

In addition, Berkshire got involved in the Telekom subsidiary T-Mobile US. In total, the group now holds paper worth $ 276 million.

Instead, the 90-year-old, who is nicknamed the “Oracle of Omaha” for his good knack when investing, parted ways with bank titles. He reduced his stake in Wells Fargo. JP Morgan Chase and PNC Financial.

Buffett is buying significantly more again

Buffett was much more cautious in the first few months of the year in order to better assess the consequences of the pandemic. Recently, however, he became more active again. In the third quarter, Berkshire repurchased $ 9 billion worth of shares – more than ever.

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