Savient Pharmaceuticals

Savient Pharmaceuticals, Inc. was a biopharmaceutical company specializing in the development and commercialization of medicines for difficult-to-treat medical conditions. Its most notable product was Krystexxa (pegloticase), a drug approved by the FDA in 2010 for the treatment of chronic gout in adult patients who do not respond to conventional therapy.

History

Savient Pharmaceuticals, originally known as Bio-Technology General Corp., was founded in the early 1980s. Over the years, the company focused on the development of biologic therapies, including hormone replacement therapies and vaccines. In 2008, the company changed its name to Savient Pharmaceuticals, Inc., marking a strategic shift towards specializing in treatments for diseases that have few or no therapeutic options.

The development of Krystexxa was a significant milestone for Savient Pharmaceuticals. Krystexxa is a recombinant uricase enzyme that helps to lower uric acid levels in chronic gout patients. The approval of Krystexxa by the FDA was a major achievement for the company, as it addressed a significant unmet medical need within the gout community.

Financial Challenges and Bankruptcy

Despite the innovative nature of its product, Savient Pharmaceuticals faced significant financial challenges. The cost of developing Krystexxa, coupled with the challenges of marketing a specialty drug, placed a financial strain on the company. In October 2013, Savient Pharmaceuticals filed for Chapter 11 bankruptcy protection, citing inability to meet its financial obligations.

Following the bankruptcy filing, the assets of Savient Pharmaceuticals, including Krystexxa, were sold. The acquisition of these assets by other pharmaceutical companies ensured that Krystexxa remained available to patients who needed it.

Impact on the Pharmaceutical Industry

The story of Savient Pharmaceuticals highlights the challenges faced by biopharmaceutical companies in developing and commercializing specialized treatments. Despite the clinical success of its products, financial sustainability remains a critical hurdle for companies operating in niche markets. Savient's journey underscores the importance of innovative drug development in addressing unmet medical needs, while also illustrating the financial risks associated with bringing such drugs to market.

See Also

• Biopharmaceutical
• Gout
• United States Food and Drug Administration
• Chapter 11 Bankruptcy