Savient's Board of Directors Forms a Board Committee to Oversee the Regulatory and Pre-Launch Activities for P...( Christopher Clement Resigns; Board Ap...),Health

Christopher Clement Resigns; Board Appoints Paul Hamelin as President

EAST BRUNSWICK, N.J., Nov. 19 /PRNewswire-FirstCall/ -- Savient Pharmaceuticals, Inc. (Nasdaq: SVNT) today announced that its Board of Directors has formed a BLA Oversight Committee ("the Committee")to oversee the regulatory and pre-launch activities for the company's drug, pegloticase, effective immediately. The Committee will be comprised of independent Board members Lee S. Simon, M.D. and Alan L. Heller, who both have extensive experience with the Food & Drug Administration (FDA) process. Dr. Simon will chair the Committee. The Committee will work closely with Savient officers, Dr. Robert Lamm and Dr. Zeb Horowitz, who will continue to lead the Company's discussions with the FDA.

The formation of the Committee followed Christopher Clement's resignation as President, Chief Executive Officer and a director of the company, by mutual agreement between Mr. Clement and the Board.

The role of the Committee is to oversee all activities of the Company in connection with its BLA filing relating to pegloticase and to work closely with management in seeking marketing approval from the FDA and preparing for the drug's commercial launch. The Committee will assist the company in maintaining an active dialogue with the FDA, preparing for a possible Advisory Committee presentation, identifying and engaging key outside experts, overseeing manufacturing activities and supply chain initiatives and liaising with the various clinical care communities and support management in their interactions with key constituencies involved in this process.

"Our Board of Directors believes that the formation of the BLA Oversight Committee will play a key role in supporting Savient during this important time as we work toward FDA approval," said
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