Low Sales Prompt Bankruptcy Filing for New Jersey Biotech

Savient Pharmaceuticals said last week it has filed for Chapter 11 bankruptcy and will look to auction off all of its assets to a suitor, including its flagship gout drug Krystexxa. The filing comes after years of layoffs and weak sales for Savient’s lead product, a biologic indicated to treat adults with chronic gout who do not respond to, or cannot tolerate, conventional therapy.
Washington Drug Letter