Buffett's Berkshire cuts stakes in U.S. drugmakers, invests in drug royalty company

  • 11/15/2021
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Nov 15 (Reuters) - Warren Buffett’s Berkshire Hathaway Inc said on Monday it eliminated its investment in Merck & Co and reduced its stakes in Abbvie Inc and Bristol-Myers Squibb Co, as it pared its overall stock market investments. The changes were disclosed in a regulatory filing detailing Berkshire’s U.S.-listed holdings as of Sept. 30. Berkshire also disclosed new investments in Royalty Pharma Plc, which buys pharmaceutical royalties, and flooring retailer Floor & Decor Holdings Inc. Reporting by Jonathan Stempel in New York Editing by Chris Reese

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