Savient Pharmaceuticals to Commence Shipment of KRYSTEXXA

Shares of Savient Pharmaceuticals (SVNT) are trading lower during the Tuesday afternoon trading session, currently printing the tape at $12.34. The ticker touched earlier an intraday high of $12.97 after the company announced its first shipment of KRYSTEXXA, which will be commercially available by prescription in the U.S. effective December 1, 2010.

“A PEGylated uric acid specific enzyme, KRYSTEXXA was granted approval by FDA on September 14, 2010 for the treatment of chronic gout in adult patients refractory to conventional therapy.”

SVNT share action: down 2 cents to $12.34 in afternoon trading. The equity continues to see a strong volume; more than 4.5 million shares have already traded hands compared to a daily average of around 3.9 million.

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