Savient Pharmaceuticals

Last updated
Savient pharmaceuticals
IndustryPharmaceuticals
Defunct2013
Headquarters,
United States
Products Pegloticase, oxandrolone
Website http://www.savientpharma.com/

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.[ citation needed ] 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. [6] In 2015, Crealta was able to sell the asset to Horizon Pharma for $510 million that year. [6]

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References

  1. Monica Holmberg, PharmD (2011-04-18). "Savient Pharmaceuticals, Inc's Krystexxa". Pharmacy Times. April 2011 Allergy & Asthma. 77 (4).
  2. "UPDATE 1-Savient says court lifts sale ban on oxandrolone". Reuters. 2007-01-20. Retrieved 2022-05-12.
  3. Press release: Bio-Technology General Corp. Announces Company Name Change to Savient Pharmaceuticals, Inc. June 17, 2003
  4. "Ex-CEO of East Brunswick's Savient Pharmaceuticals headed to Dendreon". nj. 2012-02-01. Retrieved 2020-05-12.
  5. "Savient Pharmaceuticals files for Chapter 11 bankruptcy". Reuters. 2013-10-15. Retrieved 2022-04-21.
  6. 1 2 3 Engel, Jeff (14 December 2015). "Crealta Spins Struggling Arthritis Drug Into $510M Horizon Payday | Xconomy". Xconomy.