Savient to Sell Biologics Manufacturing Operations to Ferring
Savient Pharmaceuticals agreed to sell its global biologics manufacturing business to Ferring BV of the Netherlands for $80 million. The companies also agreed to co-promote Nuflexxa in the U.S. Nuflexxa is designed to treat knee pain caused by osteoarthritis. In a press release Wednesday, Savient said the asset sale is part of plans to focus on its product pipeline. The company will use some of the proceeds from the sale for its lead drug candidate Puricase, which is in Phase II clinical trials as a gout treatment.