Savient assets to be sold to Crealta Pharmaceuticals

Bankrupt Savient Pharmaceuticals (SVNTQ) has agreed to sell substantially all of its assets to Crealta Pharmaceuticals for $120.4M.

The figure is more than double the stalking horse bid of $55M made by Sloan Holdings.

The assets include Krystexxa, Savient's uric acid-specific enzyme for treating chronic gout.

The transaction is subject to approval by the bankruptcy court, which is due to hold a hearing about the agreement on Friday. (PR)

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Comments (1)
  • speculative
    , contributor
    Comments (1651) | Send Message
    The management are all frauds! They all need to go to jail and be made an example of. They should be obligated to return all monies received from offerings that they were paid when they knowingly issued share below value to line their pockets when the offerings were not going to prevent the company's fate.


    Bunch of crooks!
    11 Dec 2013, 12:55 PM Reply Like
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