Savient Pharmaceuticals Explained

Savient pharmaceuticals
Location City:East Brunswick, New Jersey
Location Country:United States
Industry:Pharmaceuticals
Homepage:http://www.savientpharma.com/
Dissolved:2013

Savient Pharmaceuticals was a New Jersey-based biopharmaceutical company. Its lead product, pegloticase, was a biologic drug for treatment resistant chronic gout, which it marketed beginning in 2011.[1] It also marketed oxandrolone beginning in 1995.[2]

History

Savient was incorporated in 1980 as Bio-Technology General Corp and changed its name in 2003.[3]

Savient later focused on commercializing pegloticase in the United States and completing the development and seeking regulatory approval in the European Union. The company also sold branded and generic versions of oxandrolone, a drug used to promote weight gain following involuntary weight loss. John H. Johnson was CEO from February 2011 until February 2012, formerly employed by Imclone Systems.[4]

Savient declared bankruptcy in 2013.[5] The drug was selling at $5,390 per vial—around $30,000 for a three-month course of treatment—at the time Savient went under.[6]

Savient was then bought by Crealta. In 2015, Crealta was able to sell the asset to Horizon Pharma for $510 million that year.

Notes and References

  1. Monica Holmberg . PharmD . 2011-04-18 . Savient Pharmaceuticals, Inc's Krystexxa . Pharmacy Times . April 2011 Allergy & Asthma . en . 77 . 4.
  2. News: 2007-01-20 . UPDATE 1-Savient says court lifts sale ban on oxandrolone . en . Reuters . 2022-05-12.
  3. http://www.businesswire.com/news/home/20030617005620/en/Bio-Technology-General-Corp.-Announces-Company-Change-Savient Press release: Bio-Technology General Corp. Announces Company Name Change to Savient Pharmaceuticals, Inc.
  4. Web site: Ex-CEO of East Brunswick's Savient Pharmaceuticals headed to Dendreon. 2012-02-01. nj. en. 2020-05-12.
  5. News: 2013-10-15 . Savient Pharmaceuticals files for Chapter 11 bankruptcy . en . Reuters . 2022-04-21.
  6. News: Engel. Jeff. Crealta Spins Struggling Arthritis Drug Into $510M Horizon Payday Xconomy. Xconomy. 14 December 2015.