The market has staged a huge bounce-back rally this week after two weeks of brutal declines.

Teva Pharmaceuticals gets a boost from the Oracle of Omaha and Apricus Biosciences implodes after CRL from the FDA.

All the other notable news, events and analyst ratings from across the sector as well as a Spotlight feature on Zafgen are in the paragraphs below.

This idea was discussed in more depth with members of my private investing community, The Biotech Forum.

It is amazing how complete is the delusion that beauty is goodness.”
? Leo Tolstoy, The Kreutzer Sonata

The market has staged a huge bounce back rally this week after two weeks of brutal declines. After just passing into official ‘correction’ territory late last week for the first time in two years, equities have come roaring back this week. The S&P looks set to have its best weekly performance in 15 months and the NASDAQ since 2014. The main biotech ETFs have rallied with the overall market and have posted solid gains throughout the week. Investors will be hoping to close out a stellar week on a high note in trading today.

Beaten-down generic drug leader Teva Pharmaceuticals (TEVA) picked up a well-known investor recently. New filings show that Warren Buffett has picked up an over-$350 million stake in the beleaguered firm that is undergoing a massive restructuring and dealing with multiple headwinds. The shares rallied on this news on Thursday.

Going in the opposite direction today will be Apricus Biosciences (APRI), which looks set to lose the majority of its market value in trading today. The FDA rejected its market application for its topical erectile dysfunction cream Vitaros with a Complete Response Letter (CRL). The letter cited deficiencies in Chemistry, Manufacturing and Control and safety concerns specific the current formulation. Company management came out and stated Apricus will review the contents of the CRL and see what it can potentially due to address these concerns in the months ahead. They also promised an update to investors by March. Judging from the early market action, most are not waiting around for that update.