UPDATE 1-Savient Pharmaceuticals to cut 38 pct jobs

* Says plans to cut 26 jobs

* Sees $1.3 million charge, expects to save $4.6 mln

Sept 25 (Reuters) - Savient Pharmaceuticals Inc (SVNT.O) said it plans to cut 26 jobs, or about 38 percent of its workforce, to reduce costs and focus on the resubmission of marketing application for its experimental gout drug.

The company expects to incur $1.3 million in severance-related expenses during the third quarter, Savient said in a regulatory filing.

Savient expects cost savings of about $4.6 million through the year ending Dec. 31, 2010.

Last week, Savient had said the U.S. Food and Drug Administration do not expect additional trials for its experimental gout drug, Krystexxa, which was denied approval in July. [ID:nBNG14500]

Shares of the company were up about 4 percent at $15.35 in afternoon trade Friday on Nasdaq.

For the alerts double-click [ID:nWNAB3523] . (Reporting by Anand Basu in Bangalore; Editing by Pradeep Kurup)