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5/14/2020, 6:56 PM (Source: TeleTrader)
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Peltz investing in pharma amid COVID-19

Billionaire investor Nelson Peltz said on Thursday that his asset management fund Trian Partners is investing in pharmaceuticals after hearing reassuring comments on therapeutics and vaccine development.

Peltz told CNBC: "This thing is no going to last forever. There’s still loads of value in the market because the market is primarily a tech market." He also noted that a vaccine will come "sooner" rather than later and commented that a Pfizer executive told him they expect to have some COVID-19 treatments ready in July.

He added there were some other companies he is buying into as he sees them as "compelling" buys. However, Peltz refused to name the firms.

Baha Breaking News (BBN) / VP