Savient Pharmaceuticals was a

New Jersey New Jersey is a U.S. state, state located in both the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. Located at the geographic hub of the urban area, heavily urbanized Northeas ...

–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, was a biologic drug for treatment resistant chronic

gout Gout ( ) is a form of inflammatory arthritis characterized by recurrent attacks of pain in a red, tender, hot, and Joint effusion, swollen joint, caused by the deposition of needle-like crystals of uric acid known as monosodium urate crysta ...

, which it marketed beginning in 2011. It also marketed

oxandrolone Oxandrolone is an androgen and synthetic anabolic steroid (AAS) medication to help promote weight gain in various situations, to help offset protein catabolism caused by long-term corticosteroid therapy, to support recovery from severe burns, t ...

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

European Union The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...

. 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 chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

from February 2011 until February 2012, formerly employed by

Imclone Systems ImClone Systems LLC 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 in New Yo ...

. 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