Savient Pharmaceuticals Files for Bankruptcy

Source: pharmamanufacturing.com

Oct 16, 2013

Bloomberg.com

Savient Pharmaceuticals Inc., developer of gout drug Krystexxa, sought bankruptcy protection and court approval to sell its assets to a US WorldMeds LLC unit for $55 million.

Savient had $260 million in debt and $74 million in assets, according to a the court filing. An agreement with Sloan Holdings CV, a unit of Louisville, Kentucky-based US WorldMeds, calls for Sloan to acquire most of Savient, including Krystexxa, for $55 million under a court-supervised auction process. Read more

Show Comments
Hide Comments

Join the discussion

We welcome your thoughtful comments.
All comments will display your user name.

Want to participate in the discussion?

Register for free

Log in for complete access.

Comments

No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments