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Savient Pharmaceuticals Reports Fourth Quarter and Year-End 2012 Financial Results
Date:3/19/2013

ecutive Officer of Savient.  "Part of this long-term corporate strategy is to ensure that the true value of this highly effective orphan drug is reflected appropriately.  The recent 30% price increase of KRYSTEXXA represents management's commitment to execute upon this strategy and continue to build long-term value for our stakeholders."

Fourth Quarter Operational Highlights and Recent Developments:

  • Announced additional new data demonstrating KRYSTEXXA-treated refractory chronic gout patients experienced significantly improved health-related quality of life
  • Announced new data from an open-label extension (OLE) study published in the Annals of the Rheumatic Diseases reinforcing the safety and efficacy profile of KRYSTEXXA
  • Announced the elections of Robert G. Savage and Dr. David Meeker to the Company's board of directors
  • Completed study of KRYSTEXXA in dialysis patients, and anticipate data to be presented at a major scientific meeting later this year
  • Received European Commission marketing authorization in January 2013 for KRYSTEXXA® for the treatment of certain patients with chronic tophaceous gout in the EU
  • Announced a co-promotion agreement with Swedish Orphan Biovitrum AB (Sobi) for Kineret® (anakinra) in the U.S.
  • Financial Results of Operations for the Three Months Ended December 31, 2012Net revenues increased $1.2 million, or 33%, to $4.9 million for the three-month period ended December 31, 2012, from $3.7 million for the three-month period ended December 31, 2011, as a result of increasing awareness and acceptance of KRYSTEXXA among our target customer base, and to a lesser extent, the impact of our price increases.  Over the past year, we have increased the selling price of KRYSTEXXA by approximately 29% from the original list price of $2,300 per vial to $2,962 per vial.  We further increased the selling price in 2013 by
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    SOURCE Savient Pharmaceuticals, Inc.
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