Savient Pharmaceuticals (SVNT -12.6%) shares plunge after Dendreon (DNDN +4.6%) swipes its CEO,...

|About: Savient Pharmaceuticals, Inc. (SVNTQ)|By:, SA News Editor

Savient Pharmaceuticals (SVNT -12.6%) shares plunge after Dendreon (DNDN +4.6%) swipes its CEO, as John Johnson will take the helm at DNDN on June 30 after only one year at SVNT. Deutsche Bank says Johnson has a history of M&A and his fresh perspective might benefit DNDN's near-term strategy, noting his success in selling Imclone to Eli Lilly and attempts to sell SVNT.