Savient Pharmaceuticals Announces Acceptance of Two Gout-RelatedAbstracts for Poster Presentation at the European League AgainstRheumatism (EULAR) 2007 Annual CongressEAST BRUNSWICK, N.J.--(BUSINESS WIRE)--Jun 6, 2007 - Savient Pharmaceuticals, Inc. (NASDAQ: SVNT) announced today that two abstracts exploring Phase 2 Puricase(R) (PEG-uricase) data and quality of life in treatment-failure gout patients will be presented at the European League Against Rheumatism (EULAR) 2007 Annual Congress taking place June 13 - 16th in Barcelona, Spain. Puricase is a PEGylated recombinant porcine urate oxidase currently in Phase 3 development for patients with treatment-failure gout.
The abstracts selected for poster presentation on Thursday, June 14 are:
-- "Pharmacokinetics and Pharmacodynamics of PEG-uricase in Patients with Hyperuricemia and Treatment-Failure Gout" (abstract #THU0358)
-- "Validation of the SF-36 and HAQ-DI in Patients with Treatment-Failure Gout" (abstract #THU0359)
The first poster presents pharmacokinetic and pharmacodynamic data from the 41-patient, 3-month duration, open-label Phase 2 trial of Puricase. The second poster presents an analysis of the application of instruments for measuring health-related quality of life and physical functioning to the assessment of patient-reported outcomes in treatment-failure gout (defined as gout patients for whom allopurinol is contraindicated or is ineffective).
In addition to the two abstracts accepted for poster presentation, two additional abstracts have been accepted for publication on-line. These are:
-- Weekly Flare Burden Index: A New Metric for Evaluating Gout Treatment (abstract # AB0748)
-- Uric Acid Lowering Therapy for Gout: Patterns of Care (abstract # AB0745)
Savient licensed exclusive, worldwide rights to the technologies related to Puricase from Duke University ("Duke") of North Carolina and Mountain View Pharmaceuticals, Inc. ("MVP"), a California corporation. Duke developed the recombinant porcine uricase enzyme and MVP developed the PEGylation technology. MVP and Duke were granted U.S. and foreign patents covering the licensed technology. Puricase is a registered trademark of Mountain View Pharmaceuticals, Inc.
ABOUT SAVIENT PHARMACEUTICALS
Savient Pharmaceuticals is a biopharmaceutical company engaged in developing and marketing pharmaceutical products that target unmet medical needs in both niche and broader markets. The Company's lead product development candidate, Puricase(R) for treatment failure gout, has reported positive Phase 1 and 2 clinical data; patient dosing in Phase 3 clinical studies began in May 2006 with patient enrollment completed in March 2007. Savient's experienced management team is committed to advancing its pipeline and expanding its product portfolio by in-licensing late-stage compounds and exploring co-promotion and co-development opportunities that fit the Company's expertise in specialty pharmaceuticals and biopharmaceuticals with an initial focus in rheumatology. Savient also manufactures and supplies Oxandrin(R) (oxandrolone tablets, USP) CIII in the U.S.
This news release contains forward-looking statements that are subject to certain risks, trends and uncertainties that could cause actual results and achievements to differ materially from those expressed in such statements. These risks, trends and uncertainties are in some instances beyond Savient's control. Words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "will" and other similar expressions help identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements involve substantial risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Savient's business and the biopharmaceutical and specialty pharmaceutical industries in which Savient operates. Such risks and uncertainties include, but are not limited to, Savient's stock price and market conditions, delay or failure in developing Puricase(R) and other product candidates, difficulties of expanding Savient's product portfolio through in-licensing, introduction of generic competition for Oxandrin(R), fluctuations in buying patterns of wholesalers, potential future returns of Oxandrin or other products, Savient's continuing to incur substantial net losses for the foreseeable future, difficulties in obtaining financing, potential development of alternative technologies or more effective products by competitors, reliance on third-parties to manufacture, market and distribute many of Savient's products, (economic, political and other risks associated with foreign operations) risks of maintaining protection for Savient's intellectual property, risks of an adverse determination in ongoing or future intellectual property litigation, and risks associated with stringent government regulation of the biopharmaceutical industry. Savient may not actually achieve the plans, intentions or expectations disclosed in Savient's forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that Savient makes. Stockholders should not place undue reliance on the forward-looking statements, which speak only as to the date of this press release. Savient's forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments that Savient may make. Except as required by law, Savient does not assume any obligation to update any forward-looking statements.
Posted: June 2007