Savient Pharmaceuticals was a

New Jersey New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware ...

-based

biopharmaceutical A biopharmaceutical, also known as a biological medical product, or biologic, is any pharmaceutical drug product manufactured in, extracted from, or semisynthesized from biological sources. Different from totally synthesized pharmaceuticals, t ...

company. Its lead product,

pegloticase Pegloticase (trade name Krystexxa) is a medication for the treatment of severe, treatment-refractory, chronic gout. It is a third line treatment in those in whom other treatments are not tolerated. The drug is administered by infusion intravenously ...

, was a biologic drug for treatment resistant chronic

gout Gout ( ) is a form of inflammatory arthritis characterized by recurrent attacks of a red, tender, hot and swollen joint, caused by deposition of monosodium urate monohydrate crystals. Pain typically comes on rapidly, reaching maximal intensit ...

, which it marketed beginning in 2011. It also marketed

oxandrolone Oxandrolone, sold under the brand names Oxandrin and Anavar, among others, is an androgen and anabolic steroid (AAS) medication which is used to help promote weight gain in various situations, to help offset protein catabolism caused by long-term ...

beginning in 1995.

History

Savient was incorporated in 1980 as Bio-Technology General Corp and changed its name in 2003. Savient later focused on commercializing

in the United States and completing the development and seeking regulatory approval in the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been des ...

. The company also sold branded and generic versions of oxandrolone, a drug used to promote weight gain following involuntary weight loss. John H. Johnson was

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

from February 2011 until February 2012, formerly employed by

Imclone Systems ImClone Systems Incorporated was a biopharmaceutical company dedicated to developing biologic medicines in the area of oncology. It was founded in 1984 and had its corporate headquarters in Bridgewater, New Jersey, and its research headquarters i ...

. Savient declared bankruptcy in 2013. The drug was selling at $5,390 per vial—around $30,000 for a three-month course of treatment—at the time Savient went under. Savient was then bought by Crealta. In 2015, Crealta was able to sell the asset to Horizon Pharma for $510 million that year.

References

Companies formerly listed on the Nasdaq Biotechnology companies of the United States Pharmaceutical companies based in New Jersey {{US-company-stub