Navigation Links
Savient Announces Proposed Offering of $125 Million in Convertible Senior Notes

EAST BRUNSWICK, N.J., Jan. 31, 2011 /PRNewswire/ -- Savient Pharmaceuticals, Inc. (Nasdaq: SVNT) today announced its intention to offer, subject to market conditions and other factors, $125 million aggregate principal amount of Convertible Senior Notes due 2018 (the "Notes") pursuant to an automatically effective registration statement filed with the Securities and Exchange Commission today. Savient also intends to grant the underwriters an option to purchase up to an additional $18.75 million aggregate principal amount of Notes, solely to cover over-allotments. The interest rate, conversion price and other terms of the Notes will be determined by negotiations between Savient and the underwriters.

Savient expects to use the net proceeds of the offering to commercialize KRYSTEXXA™ in the United States, including completion of its ongoing efforts to recruit a sales force, expand its marketing organization and establish a commercial infrastructure, to fund clinical development activities directed to potential label expansion for KRYSTEXXA in the United States, to further develop and seek regulatory approval for KRYSTEXXA in jurisdictions outside the United States, particularly in the European Union, and for general corporate purposes, including working capital.

J. P. Morgan Securities LLC is acting as sole book-running manager of the offering. Lazard Capital Markets LLC is acting as a co-manager of the offering. A copy of the prospectus meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; Telephone (631) 254-1735.

This press release is neither an offer to sell nor a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Savient Pharmaceuticals, Inc.

Savient Pharmaceuticals, Inc. is a specialty biopharmaceutical company focused on developing and commercializing KRYSTEXXA (pegloticase), which was approved by the FDA on September 14, 2010 for the treatment of chronic gout in adult patients refractory to conventional therapy.

Safe Harbor Statement

This press release contains forward-looking statements, including statements about future business prospects, market conditions, KRYSTEXXA, the planned offering and the expected use of proceeds from the offering, that are intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. Any statements that are not statements of historical fact (including statements containing the words "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "may," "predict," "will," and "would," and similar expressions) should be considered to be forward-looking statements. There are a number of important factors that could cause actual results to differ materially from those indicated in any forward-looking statements made by Savient, including the factors described in Savient's Quarterly Report on Form 10-Q for the quarter ended September 30, 2010, which has been filed with the Securities and Exchange Commission.


SOURCE Savient Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Savient Announces FDAs Advisory Panel to Review Pegloticase for Treatment-Failure Gout Patients
2. Savient Provides Update on Pegloticase BLA
3. Savient Pharmaceuticals Announces Proposed Public Offering of Common Stock
4. Savient Pharmaceuticals Prices Underwritten Offering of Common Stock
5. Savient Pharmaceuticals Announces Closing of Public Offering and Exercise of Over-Allotment Option
6. Savient Pharmaceuticals Reports Third Quarter 2009 Financial Results
7. Savient Provides Update on KRYSTEXXA(TM) BLA Resubmission Activities
8. Savient Pharmaceuticals To Hold Fourth Quarter And Year-End 2009 Results Conference Call On Friday, February 26, 2010
9. Savient Pharmaceuticals Reports Fourth Quarter and Year-End 2009 Financial Results
10. Savient Resubmits Biologics License Application for KRYSTEXXA(TM) (pegloticase) for the Treatment of Chronic Gout in Patients Refractory to Conventional Therapy
11. Savient Pharmaceuticals To Hold First Quarter 2010 Results
Post Your Comments:
(Date:11/25/2015)... Developmental, commercial, and regulatory/legal strategies ... products, says GBI Research . ... all play a key role in boosting the profitability of ... --> Developmental, commercial, and regulatory/legal ... profitability of pharmaceutical products, says GBI Research ...
(Date:11/24/2015)... 2015 The hope of bearing ... of IVF cycles. After failure of over 15 IVF ... lost all hopes that she would be able to conceive ever. But finally optimism prevailed ... after failure of over 15 IVF cycles. ... to take one last attempt with Gaudium IVF Center in ...
(Date:11/24/2015)... HILL, N.C. , Nov. 24, 2015  In ... research projects in an effort to quickly uncover new ... position. --> --> ... launch a market research project and ensure that all ... company and industry standards. Another major barrier to efficiently ...
Breaking Medicine Technology:
(Date:11/25/2015)... , ... November 25, 2015 , ... On November 23rd ... Tri Lite’s personal heating products business. Cozy Products explains what this means ... that fit in well with the Cozy Products business model: to sell personal heaters ...
(Date:11/25/2015)... ... ... SCOTTSDALE, AZ) - Today, Dr. Todd C. Hobgood ... non-surgical treatments, announced the expansion of his private practice capabilities with the grand ... trained and nationally recognized for his natural approach, Dr. Todd Hobgood serves the ...
(Date:11/25/2015)... ... November 25, 2015 , ... Brillianteen, McGaw YMCA’s student-produced musical ... its 65th Anniversary Brillianteen Revue, scheduled for March 4-6, 2016. Auditions for this ... Brillianteen has been a treasured tradition for numerous families in the Evanston community. ...
(Date:11/25/2015)... ... November 25, 2015 , ... “While riding the bus, I saw a passenger ... thought there had to be a convenient and comfortable way to protect them from ... disabled individuals to safely travel during cold or inclement weather. In doing so, it ...
(Date:11/25/2015)... , ... November 25, 2015 , ... ... provide scholarships for people struggling with eating disorders as a result of the ... second annual event, held at Fox Run Golf Club in Eureka, will help ...
Breaking Medicine News(10 mins):