Savient Pharmaceuticals slips on a Q2 EPS miss

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

Savient Pharmaceuticals (SVNT -5%) slips after its Q2 misses EPS estimates on a greater than anticipated loss.

Net revenues increased by 44% Y/Y to $2.1M, primarily driven by higher KRYSTEXXA net sales.

KRYSTEXXA net sales rose 52% Y/Y, substantially due to the impact of product price increases and to a lesser extent an increase in sales volume.

The selling price of KRYSTEXXA increased by approximately 134% from the original list price of $2,300 per vial to the current list price of $5,390 per vial, effective May 17, while 2,058 vials of KRYSTEXXA were sold, an increase of 9% Y/Y.