Berkshire Hathaway reported last night that it has maintained its holding of 43.2 million shares and 4% stake in Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA). However, the news that investment guru Warren Buffett, the chairman, CEO and largest shareholder in Berkshire Hathaway has kept his position in Teva did not boost the company's share price. On a bearish NYSE, Teva fell 10.51% to $6.30, giving a market cap of $7.167 billion as Moody's lowered its outlook for the Israeli pharmaceutical company from stable to negative and Congress members accused it of obstructing a price-fixing probe. RELATED ARTICLES US Congress heaps more misery on Teva Landa: I see Teva being broken up Teva will never regain its former glory Buffett embarrasses the experts on Teva Thus Berkshire Hathaway's 4% stake in Teva is now worth just $272 million. Berkshire Hathaway was not required to report how much it paid for its position in the Israeli pharmaceutical company. However, taking the average price in the period that the position was built up - late 2017 and early 2018 - Berkshire Hathaway likely paid $756 million for its shares. So on paper, Berkshire Hathaway is sustaining losses of more than $480 million. Published by Globes, Israel business news - en.globes.co.il - on August 15, 2019 © Copyright of Globes Publisher Itonut (1983) Ltd. 2019
