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Savient Pharmaceuticals to Raise $31 Million Through Registered Direct Offering
Date:4/3/2009

letter" that does not constitute an approval or rejection, then the warrants expire on the earlier of the date that is 15 months after the date that the company publicly announces that the FDA issued its complete response letter and the date that is nine months after the date on which the company publicly announces that it has addressed all items required by the FDA before the BLA can be approved.

The closing of the offering is expected to take place on or about April 8, 2009, subject to customary closing conditions. Lazard Capital Markets LLC served as the sole placement agent in connection with the offering. Copies of the final prospectus relating to this offering may be obtained at the Securities and Exchange Commission web site at http://www.sec.gov, or from Savient Pharmaceuticals, Inc. at One Tower Center, 14th Floor, East Brunswick, NJ 08816 Attention: Investor Relations.

The common stock and warrants described above are being offered by Savient pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the company, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Savient

Savient Pharmaceuticals, Inc. is a specialty biopharmaceutical company focused on developing and marketing pharmaceutical products that target unmet medical needs in both niche and broader specialty markets. Savient's product development candidate, KRYSTEXXA(TM) (pegloticase) for treatment-failure gout, has reported positive Phase 1, 2 and 3 c
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SOURCE Savient Pharmaceuticals, Inc.
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