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Savient Pharmaceuticals, Inc. (SVNT) Announces New Drug

Friday, Savient Pharmaceuticals, Inc. announced the launch of their leading drug KRYSTEXXA. KRYSTEXXA has recently been approved by the U.S. Food and Drug Administration for the treatment of chronic gout. The company’s product is now the first and only therapy available to address this condition.

John H. Johnson, Chief Executive Officer of Savient, stated “Since receiving FDA approval for KRYSTEXXA, we have focused on preparing for a successful U.S. Launch. Our sales force has completed very thorough and extensive training. We are excited to deploy this highly talented and biologics experienced team into their territories. There has never been a more exciting time in the history of Savient, nor for the chronic gout patients, who have waited so long for a therapy that has the potential to change the course of their lives.”

Savient has made several key decisions in order to get this drug passed:

Experienced Sales Team – Savient has hired an experienced sales force including: regional medical scientists, care executives, business directors, nurse educators and area business solutions managers. Each of these new hires is working with local hospital staff to address patient need.

Reimbursement Plan in Place – Savient has also retained reimbursement specialists to assist physicians and office personnel as they work through the reimbursement process. To date, Savient believes that no patients have been denied reimbursement for KRYSTEXXA.

Staged Roll-out – Savient will roll out the product in separate stages. During the first phase of the launch program, Savient sales teams will target Rheumatologists and Nephrologists.

Expanding market opportunities – Savient is on track to complete the EU submission for KRYSTEXXA in the first quarter of 2011 or shortly thereafter.

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