Business
Warren Buffett’s $7.8b pharma bet – The Australian Financial Review
The investment in drugmakers by “the Oracle of Omaha” will be closely scrutinised by Wall Street.
The four new purchases more than doubled the size of Berkshires investments in healthcare stocks in the third quarter to $US9.3 billion in total. The company already held stakes in the drugmakers Biogen, Johnson & Johnson and Teva Pharmaceuticals and DaVita, a kidney dialysis company.
Mr Buffett did not respond to a request for comment.
Berkshire cut its stake in several large banks during the three months to the end of September, including Wells Fargo, JPMorgan Chase, PNC Financial and M&T Bank….
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