Teva Pharmaceutical (NYSE: TEVA) shares jumped after Berkshire Hathaway (NYSE: BRK.A) reported a $358-million stake.
In a quarterly regulatory filing Wednesday, Warren Buffett's conglomerate reported holding 18.9 million ADRs of Teva.
Berkshire also reported a 23.3% increase in its holdings of Apple shares, to 165 million, and a 21% increase in its holdings of Bank of New York Mellon, to 60.8 million shares.
At the same time, Berkshire has cut its holdings of IBM (NYSE: IBM) by 94% to just more than two million shares. It also trimmed its Wells Fargo (NYSE: WFC) stake by six million shares to 458 million, and its stake in General Motors (NYSE: GM) by 10 million shares, to 50 million.
The regulatory filing reflects Berkshire's stock holdings as of the end of December. Investment managers are required to report such holdings every quarter but with a delay.
Teva also announced this week that QVAR® RediHaler™ (beclomethasone dipropionate HFA) Inhalation Aerosol is now commercially available to patients in both 40 mcg and 80 mcg strengths by prescription in the U.S. QVAR® RediHaler™ is the first and only breath-actuated aerosol inhaled corticosteroid for the maintenance treatment of asthma as a prophylactic therapy in patients four years of age and older.
Teva shares galloped $1.71, or 8.9%, to $21.04, while Berkshire shares hiked $2,865.00, or nearly 1%, to $303,870.00
