Warren Buffet through his investment company Berkshire Hathaway Inc. has made new investments in giant pharmaceutical companies in the United States (US). The four companies are already on the Wall Street stock exchange, USA.
Through this steps, Warren Buffet can increase his wealth. It is due to the pharmaceutical sector is an investment that can make money during the Covid-19 pandemic.
Quoting Reuters, Berkshire said it had spent up to $ 5.7 billion to buy shares in the new healthcare industry.
Warren invests in these pharmaceutical companies
In detail, the purchase includes more than $1.8 billion in Abbvie Inc, Bristol-Myers Squibb Co., Merck & Co, and the remaining $136 million invested in Pfizer Inc.
Pfizer has recently announced a vaccine developed with BioNTech Germany to be 90% effective without side effects.
This move was a sign that Buffett has seen extraordinary gains in this pharmaceutical industry.
Pfizer is a Covid-19 vaccine producer has passed the clinical trial phase. Thus, it is claimed to be able to prevent the transmission of the corona virus by up to 90%. Meanwhile, Merck & Co has conducted phase 1 and 2 clinical trials.
The new investment value of tens of trillions by Buffett, is only a small part of Berkshire’s total portfolio of $ 245.3 billion.
Read now: Moderna and Pfizer Vaccines: Good News for Economic Recovery?
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