Key Developments: Savient Pharmaceuticals Inc (SVNT.W)
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20 May 2013
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Latest Key Developments (Source: Significant Developments)
Sobi and Savient Pharmaceuticals Inc Announce Co-Promotion Agreement for Kineret in US
Sobi and Savient Pharmaceuticals Inc announced that they have entered into an agreement for the co-promotion of Kineret (anakinra) in the U.S. Kineret, a recombinant IL-1 receptor antagonist, is a treatment for rheumatoid arthritis (RA) and indicated for the reduction in signs and symptoms and slowing the progression of structural damage in moderately to severely active RA in patients 18 years of age or older who have failed one or more disease modifying antirheumatic drugs (DMARDs). Kineret is also indicated in the U.S. for the treatment of children and adults with the severe form of Cryopyrin-Associated Periodic Syndromes (CAPS) called Neonatal-Onset Multisystem Inflammatory Disease (NOMID). Under the terms of the agreement, Sobi has granted to Savient the exclusive right to co-promote the sale of Kineret with Sobi in the U.S. Savient will market and promote Kineret beginning April 1, 2013. Sobi will remain responsible for all Kineret commercial drug manufacturing, supply, safety, and regulatory activities. About Swedish Orphan Biovitrum AB (Sobi) Sobi is an international specialty healthcare company dedicated to rare diseases. Full Article
Savient Pharmaceuticals Inc Names John P. Hamill CFO
Savient Pharmaceuticals Inc announced that the appointment of John P. Hamill as Senior Vice President & Chief Financial Officer (CFO )effective from September 24, 2012. . Full Article
Savient Pharmaceuticals Inc Announces CEO Appointment
Savient Pharmaceuticals, Inc. announced that the Company's Board of Directors has appointed Louis Ferrari, Executive Vice President, President North American Commercial Operations, to the role of President and Chief Executive Officer, effective immediately. Mr. Ferrari succeeds Savient's Interim Chief Executive Officer, David Y. Norton, who will continue serving as a member of the Savient Board of Directors. Mr. Ferrari will also serve as a member of Savient's Board of Directors. Full Article
Savient Pharmaceuticals Inc Announces That New Analysis of Phase III Trials Shows Gout Patients with Chronic Kidney Disease at Any Stage Responded to KRYSTEXXA
Savient Pharmaceuticals Inc announced that new data presented in an oral session at the European League Against Rheumatism (EULAR) 2012 congress showed that patients with refractory chronic gout (RCG) who also suffer from chronic kidney disease (CKD) responded to treatment with KRYSTEXXA (pegloticase) regardless of baseline CKD stage. CKD stage is assigned based upon level of kidney function as measured by glomerular filtration rate (GFR), with higher stages having lower GFR levels. Six additional abstracts, including a study measuring the impact of gout pain on quality of life in Western Europe, were accepted for presentation or publication at EULAR, June 6-9, 2012. Uric acid, which is high in patients with gout, is processed and excreted primarily by the kidney. Impairment of kidney function can alter the uric acid lowering effect of conventional gout treatments and decrease the threshold for a patient to experience treatment-related toxicity. Some treatments for gout require a dose reduction to avoid toxicity, yet elevated uric acid has been associated with worsening kidney function. This post-hoc analysis evaluated more than 200 patients with CKD stages one through four (n=34, 74, 80, 23, respectively) who were randomized to receive treatment with KRYSTEXXA 8 mg every other week, 8 mg every four weeks or placebo. Baseline CKD stage was similar across treatment arms, and there was no significant difference in rates of response to KRYSTEXXA by CKD stage (p<0.311). Full Article
Savient Pharmaceuticals Inc Announces Board Change-Form 8-K
Savient Pharmaceuticals Inc reported in its Form 8-K that, on March 30, 2012, Ken Zuerblis, Executive Vice President & Chief Financial Officer (and principal financial officer) of Savient Pharmaceuticals, Inc. (the Registrant) notified the Registrant that he was resigning for Good Reason, as defined in the employment agreement between Mr. Zuerblis and the Registrant, which provides for a termination for Good Reason if, among other things, the person who was the Registrant's Chief Executive Officer and President at the time of the effective date of the employment agreement is no longer the Chief Executive Officer and President. Pursuant to the terms of Mr. Zuerblis' employment agreement, his resignation is effective 60 days from the date of notice. Full Article
Savient Pharmaceuticals Inc Appoints David Y. Norton Interim Chief Executive Officer
Savient Pharmaceuticals Inc announced that the Company's Board of Directors has appointed David Y. Norton, a member of the Savient Board and former Company Group Chairman, Global Pharmaceuticals for Johnson & Johnson, to the role of Interim Chief Executive Officer, effective immediately. Mr. Norton succeeds John H. Johnson who has resigned as Chief Executive Officer, President and a director of Savient to become President, Chief Executive Officer and Chairman-Elect of Dendreon Corporation. The Board will conduct a search process for a permanent Chief Executive Officer. Full Article
Savient Pharmaceuticals Inc Names Kenneth J. Zuerblis Chief Financial Officer
Savient Pharmaceuticals Inc announced the appointment of Kenneth J. Zuerblis as Executive Vice President and Chief Financial Officer, effective September 12, 2011. Mr. Zuerblis brings over 30 years of financial and operational experience to Savient and will be responsible for all financial, accounting and investor relations functions of the Company. Mr. Zuerblis will report directly to John H. Johnson, Chief Executive Officer and President of Savient. Mr. Zuerblis succeeds David Gionco, Group Vice President, Chief Financial Officer and Treasurer, who has been offered a position to remain with the Company. Full Article
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