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Buffett sells two
Warren Buffett’s company has sold two short-line railroads it recently discovered it owned to satisfy regulators who might have had to review Berkshire Hathaway’s 2010 acquisition of the Burlington Northern Santa Fe railroad if the pair had not been jettisoned. As it was, before Berkshire acquired BNSF, Buffett sold the company’s 9.6 million shares of Union Pacific Corp. and 1.9 million shares of Norfolk Southern Corp. to avoid problems with regulators.
Bristol drug gets
Regulators in Japan have approved an anticlotting drug called Eliquis, a potential blockbuster from Bristol-Myers Squibb and Pfizer. It’s already on sale in Canada and Europe. The U.S. Food and Drug Administration twice postponed a decision on Eliquis, first saying it needed more time and then requiring additional data. The FDA is set to rule by March 17.
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