March 24, 2011 / 6:41 PM / 8 years ago

UPDATE 1-Savient gets US contract for gout, weight-gain drugs

March 24 (Reuters) - Savient Pharmaceuticals said it received a contract from the U.S. Department of Veterans Affairs to supply its gout drug, Krystexxa, and weight-gain drug, Oxandrin, for five years, sending its shares up as much as 8 percent.

Financial terms of the contract, which is effective from April 1, were not disclosed.

Last month, the company’s U.S. sales team started promoting Krystexxa, which was approved last September for patients with severe gout and no other treatment options.

Shares of the company were up 6 percent at $9.86 on Thursday on Nasdaq. They touched a high of $10.03 earlier. (Reporting by Anand Basu in Bangalore; Editing by Sriraj Kalluvila)

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