Savient Pharmaceuticals files Chapter 11

Savient Pharmaceuticals (SVNT) files voluntary Chapter 11 petitions.

The company is pursuing a sale under Section 363, with "stalking horse" bidder Sloan Holdings set to acquire Savient's assets for about $55M.

The Sloan deal sets a floor price for a court-supervised auction.

The assets in particular include Krystexxa, Savient's uric acid-specific enzyme indicated to treat chronic gout.

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Comments (1)
  • Richard0623
    , contributor
    Comments (178) | Send Message
    What a disgraceful performance, if you can even call it that, by the company, sales team, and especially the management.
    14 Oct 2013, 08:17 PM Reply Like
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