Dec. 11, 2013, 7:32 AM
- 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)
Oct. 14, 2013, 8:11 PM
- 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.
Aug. 14, 2013, 12:43 PM
- 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.
Aug. 14, 2013, 7:05 AM
- Savient Pharmaceuticals (SVNT): Q2 EPS of -$0.35 misses by $0.04.
- Revenue of $6.7M (+44% Y/Y). (PR)
Jun. 20, 2013, 4:43 PM
Savient Pharmaceuticals (SVNT) announces the formation of an Office of the President, consisting of Richard Crowley, who will serve as Co-President and COO, John P. Hamill, who will serve as Co-President and CFO, and Philip K. Yachmetz, who will serve as Co-President and Chief Business Officer. Savient also says that Louis Ferrari, President, CEO, and Director, is leaving the Company to pursue other interests, effective immediately. Shares -4.3% AH.| Jun. 20, 2013, 4:43 PM
Jun. 13, 2013, 1:52 PM
Savient Pharmaceuticals (SVNT +12.7%) increases the price per vial for Krystexxa to $5,390 for orders effectively placed after 5:00pm EST on May 17. The company adds that it will continue to evaluate pricing, noting that continued substantial price increases will, in light of the current market dynamics, be necessary in the effort to obtain sufficient revenue from the drug.| Jun. 13, 2013, 1:52 PM
May 15, 2013, 7:04 AMSavient Pharmaceuticals (SVNT): Q1 EPS of -$0.34 misses by $0.03. Revenue of $4.7M. (PR) | May 15, 2013, 7:04 AM
May 15, 2013, 12:05 AM
May 14, 2013, 5:30 PM
Mar. 19, 2013, 12:00 PM
Savient Pharmaceuticals (SVNT -9%) takes a hit after its Q4 beat expectations on a per share basis, but came up far short on revenue as net sales of Krystexxa posted a marginal 3% increase over Q3. Bottom line margins were also impacted by a cost of goods charge to Krystexxa inventory that the company doesn't believe will be sold prior to expiration.| Mar. 19, 2013, 12:00 PM | 1 Comment
Mar. 19, 2013, 7:04 AMSavient Pharma (SVNT): Q4 EPS of -$0.39 beats by $0.06. Revenue of $4.9M (+33% Y/Y) misses by $1.28M. (PR) | Mar. 19, 2013, 7:04 AM
Mar. 19, 2013, 12:05 AM
Mar. 18, 2013, 5:30 PM
Nov. 12, 2012, 9:10 AM
Nov. 8, 2012, 12:45 PM
Nov. 8, 2012, 9:10 AMPremarket gainers: DUSA +38%. MTSL +28%. USAT +15%. WLL +11%. ITMN +11%. SD +9%. QCOM +9%. THQI +8%. EZCH +7%. ALU +6%. MWW +7%. TTM +6%. DF +5%.
Losers: CPRX -56%. BCRX -34%. PANL -25%. SVNT -19%. SGEN -11%. MNST -10%. CNQR -9%. TNK -9%. NBG -8%. PSTI -8%. MAKO -7%. WINI -6%. AUI -5%. | Nov. 8, 2012, 9:10 AM