NEW YORK (Reuters) - Berkshire Hathaway Inc 's new bet on the U.S. pharmaceutical industry signals hope for shares of large drug companies, which have lagged a broad market rally amid concern about efforts to rein in prescription drug prices.
Drug stocks largely outperformed on Tuesday, a day after Warren Buffett's conglomerate, long underweight in the healthcare sector, revealed $5.7 billion of new investments in Abbvie Inc, Bristol-Myers Squibb Co, Merck & Co, and Pfizer Inc, whose vaccine has demonstrated effectiveness in late-stage studies against COVID-19.
Pharma stocks also received a boost after the Nov 3 U.S. elections made clear there would be no overwhelming Democratic sweep, an outcome some investors feared could prompt a major overhaul of drug pricing.
Still, many are reluctant to sound an all-clear on the industry, which is trading close to its biggest-ever valuation gap against the S&P 500 based on forward price-to-earnings ratios, according to Refinitiv Datastream.
Among the issues on investors' minds is whether Democrats can secure a slim margin in the U.S. Senate if their candidates win run-off races in Georgia scheduled for January, a result that could spark volatility throughout the healthcare sector.
Original Article:
免責事項：本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。
古いコメントはありません。ソファをつかむ最初のものになりましょう。