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American College of Rheumatology

Savient Shares Tumble on Safety Data from Extension

By Anette Breindl

Tuesday, October 28, 2008
Shares of Savient Pharmaceuticals Inc. tumbled 73.5 percent Monday after the company presented data on its pegloticase (Puricase) for treatment-resistant gout. Even though the drug has met its endpoint in two Phase III studies, analysts were skeptical about a key safety issue, its prospects for approval, and the size of its market if it is approved. (BioWorld Today)

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