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Savient Pharmaceuticals Reports Third Quarter 2008 Financial Results
Date:11/5/2008

pacity for future potential orders of pegloticase.

Selling, general and administrative expenses for the first nine months of 2008 were $27.3 million, an increase of $6.0 million or 28%. The increase is primarily due to higher legal costs resulting from patent infringement litigation and loss contingencies for the settlement of two legal proceedings, higher share-based compensation expense substantially due to an increase in the quantity of certain performance-based and service-based restricted stock awards and an increase in pre-launch pegloticase marketing and marketing research expenses as we prepare for the potential commercial launch of the product. Partially offsetting the above increases was a decrease in accounting and tax related professional fees.

Investment income for the first nine months of 2008 was $1.7 million, a decrease of $5.1 million or 75%. This decrease was primarily attributable to a decrease in dividend and interest income on lower cash, cash equivalent and investment balances and lower yields earned on these investments.

CONFERENCE CALL

Savient will host a live web cast to review third quarter 2008 results on November 6, 2008 at 10:00 a.m. EST. Both the live and archived web cast can be accessed from the Investor Relations page of Savient's website at http://www.savient.com. A digital recording of the web cast will be available within one hour following the conclusion of the call and will be available for 14 days. To access the recording, use the Dial-In Number and the Conference ID listed below.

Dial: (800) 642-1687 (domestic) or (706) 645-9291 (international)

Conf ID: 67897749

ABOUT SAVIENT PHARMACEUTICALS, INC.

Savient Pharmaceuticals is a biopharmaceutical company engaged in developing and distributing pharmaceutical products that target unmet medical needs in both niche and broader markets. The company's product development candidate
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SOURCE Savient Pharmaceuticals, Inc.
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