On Wednesday, Shares of Berkshire Hathaway Inc. (NYSE:BRK.B), gained 1.36% to $132.19.
A.M. Best has affirmed the financial strength rating (FSR) of A++ (Superior) and the issuer credit ratings (ICR) of “aaa” of National Indemnity Company (National Indemnity) (Omaha, NE) and its associates. Conpresently, A.M. Best has affirmed the FSR of A- (Excellent) and the ICR of “a-” of Finial Reinsurance Company (Stamford, CT), in addition to the ICR of “bbb-” and the issue rating of “bbb-” of Finial Holdings Inc. (Delaware). A.M. Best also has affirmed the FSR of A++ (Superior) and the ICR of “aa+” of Berkshire Hathaway Life Insurance Company of Nebraska (BHLN) and the FSR of A+ (Superior) and the ICR of “aa-” of First Berkshire Hathaway Life Insurance Company (FBHL) (New York, NY). These companies are all auxiliaries of Berkshire Hathaway Inc. (Berkshire) [NYSE: BRK A and BRK B]. The outlook for all ratings is stable. All companies are headquartered in Omaha, NE, unless otherwise specified. (See below for a detailed listing of the companies and ratings.)
The affirmation for the ratings of National Indemnity reflects its consistently superior operating performance, historically strong risk-adjusted capitalization and global market profile. National Indemnity’s administration team continues to be adept at dealing with the underwriting cycle and has the financial resources and acumen necessary to take advantage of unique opportunities. A.M. Best believes that this distinctive aspect and its superior market profile provide National Indemnity with the ability to outperform the market in terms of underwriting performance.
National Indemnity’s operating performance is improved by the investment returns generated by the strategies of the chief executive officer (CEO) of its parent Berkshire, Mr. Warren Buffett, whose investment expertise is heavily relied upon to bolster the total returns of the organization.
Berkshire Hathaway, Inc. is a publicly owned investment manager. Through its auxiliaries, the firm primarily engages in the insurance and reinsurance of property and casualty risks business. Berkshire Hathaway was founded in 1889 and is based in Omaha, Nebraska.
Shares of PIMCO High Income Fund (NYSE:PHK), declined -9.37% to $8.56, during its last trading session.
PIMCO High Income Fund, closed-end funds have declared a monthly distribution for each Fund’s common shares as summarized below. The distributions are payable on October 1, 2015 to shareholders of record on September 11, 2015, with an ex-dividend date of September 9, 2015.
PIMCO High Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Administration LLC. The fund is co-managed by Pacific Investment Administration Company LLC. It invests in the public fixed income markets across the globe.
At the end of Wednesday’s trade, Shares of Precision Drilling Corp (USA) (NYSE:PDS)), lost -5.11% to $4.46.
Precision Drilling Corporation will be attending the 2015 Barclays CEO Energy-Power Conference, which is taking place September 8-10, 2015 in New York, New York. Mr. Kevin Neveu, President and Chief Executive Officer, is planned to present at 7:45 a.m. Eastern time (5:45 a.m. Mountain time) on Wednesday, September 9, 2015.
Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates through two segments, Contract Drilling Services; and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
Finally, Amgen, Inc. (NASDAQ:AMGN), ended its last trade with 3.28% gain, and closed at $152.29.
Amgen, declared the submission of a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) via the centralized procedure for etelcalcetide (formerly AMG 416) for the treatment of secondary hyperparathyroidism (SHPT) in adult patients with chronic kidney disease (CKD) on hemodialysis therapy. If approved, etelcalcetide will be the first calcimimetic agent that can be administered intravenously.
Etelcalcetide is a novel calcimimetic agent that suppresses the secretion of parathyroid hormone and is in clinical development for the treatment of SHPT in patients with CKD on hemodialysis. Etelcalcetide is administered intravenously three times per week at the end of each dialysis session. It acts by binding to and activating the calcium-sensing receptor on the parathyroid gland, thereby causing decreases in parathyroid hormone (PTH). Sustained elevations in PTH are known to be associated with noteworthy clinical consequences for patients with CKD.
“Secondary hyperparathyroidism affects many of the about two million people throughout the world on dialysis, yet there is presently no calcimimetic that can be administered intravenously at the end of planned dialysis sessions. Given that these patients take an average of 19 pills daily, there is an opportunity to improve their treatment as it relates to the administration of the therapy,” said Sean E. Harper, M.D., executive vice president of Research and Development at Amgen. “Etelcalcetide has the potential to fill this unmet need, and we look forward to working with regulatory authorities in hopes of providing a new treatment option that could assist improve the complex administration of the disease.”
Amgen Inc., a biotechnology company, discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses for the treatment of illness in the areas of oncology, hematology, inflammation, bone health, nephrology, cardiovascular, and general medicine.
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