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Savient Pharmaceuticals Provides Business Update
Date:1/7/2011

EAST BRUNSWICK, N.J., Jan. 7, 2011 /PRNewswire/ -- Savient Pharmaceuticals, Inc. (Nasdaq: SVNT) today provided an update on its business activities related to the U.S. launch and commercialization of KRYSTEXXA, a PEGylated uric acid specific enzyme indicated for the treatment of chronic gout in adult patients refractory to conventional therapy.  Savient continues to believe that it is on track for the promotional launch of KRYSTEXXA in the first quarter of 2011.  

The Company announced that:

  • KRYSTEXXA became commercially available in the U.S. by prescription on December 1, 2010 with the commencement of sales and shipments by the Company to its network of specialty distributors and to its wholesale distributors.
  • The first chronic gout patient received treatment with KRYSTEXXA in December.
  • The Company has built out much of its planned sales, marketing, managed care, medical affairs and pharmacovigilance teams, including hiring the full team of six regional business directors and more than 60% of the planned territory sales representatives.  As a group, these hires bring additional rheumatology and biologics experience to Savient's commercial team.
  • In early December, the Company activated its pharmacovigilance hotline and comprehensive reimbursement support services hotline and internet portal through its third party service providers PPD and Covance.
  • To date, several large private managed care organizations have added medical benefits coverage for KRYSTEXXA, and others are actively evaluating medical benefits coverage.  The Company has also filed for a temporary "C" code and a permanent "J" code application with the Centers for Medicare & Medicaid Services in December of 2010.
  • In support of the commercial launch of KRYSTEXXA, the Company has in inventory at its third party
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SOURCE Savient Pharmaceuticals, Inc.
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