Over the last year, Savient Pharma (SVNT) has undergone a disappointing sales launch of a promising drug, the hiring and defection to Dendreon (DNDN) of a big name CEO, and finally the lawsuit of a creditor for forced liquidation.
Somehow during all of these crazy actions, the company was able to get the lawsuit dismissed, raise cash, and greatly right size the sales force to account for the slower launch of the new drug, KRYSTEXXA. All of these moves have left the company better equipped to survive long enough for the promising drug to thrive.
The company is a specialty biopharmaceutical focused on developing and commercializing KRYSTEXXA (pegloticase) for the treatment of chronic gout in adult patients refractory to conventional therapy.
Read the full article at Seeking Alpha.
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