Healthcare Industry News: Savient Pharmaceuticals
News Release - July 27, 2011
Savient Pharmaceuticals Names Rheumatology Veteran Kenneth M. Bahrt, M.D. Chief Medical OfficerEAST BRUNSWICK, N.J., July 27, 2011 -- (Healthcare Sales & Marketing Network) -- Savient Pharmaceuticals, Inc. (Nasdaq:SVNT ) today announced the appointment of Dr. Kenneth M. Bahrt as Chief Medical Officer, effective August 1, 2011. Dr. Bahrt, a Board Certified Rheumatologist, brings to Savient over 25 years of global medical affairs, drug safety and clinical practice, research and life-cycle management experience in the pharmaceutical industry. Dr. Bahrt will report directly to Mr. John H. Johnson, Chief Executive Officer and President of Savient and will lead the overall management of Savient's clinical development, drug safety and medical affairs teams.
"Dr. Bahrt has superior expertise with over two decades of experience developing drugs in the field of rheumatology," said Mr. Johnson. "Savient's mission is bringing adult patients the best treatment for refractory chronic gout and Dr. Bahrt's appointment reinforces our commitment to this goal. I am confident that his achievements as a rheumatologist combined with his proven success in the pharmaceutical industry will help us strategically expand the reach of KRYSTEXXA® and drive Savient forward."
Dr. Bahrt joins Savient from Genentech, where he served as Therapeutic Area Head for US Medical Affairs (Immunology) leading the medical affairs team for four marketed biological products and serving as the US medical lead on their Rheumatology Global Franchise Team. He previously served as Global Medical Director (Inflammation and Immunology) for F. Hoffmann - La Roche, Inc. Dr. Bahrt also worked in leadership positions of increasing breadth and responsibility at Bristol Meyers Squibb Co., where he was the Executive Director of Global Medical Affairs (Immunology), and Pfizer, where he served as Medical Director and Team Leader for rheumatology portfolio products. Prior to joining the pharmaceutical industry, Dr. Bahrt had a rheumatology practice for 15 years.
ABOUT Savient Pharmaceuticals, INC.
Savient Pharmaceuticals, Inc. is a specialty biopharmaceutical company focused on developing and commercializing KRYSTEXXA® (pegloticase) for the treatment of chronic gout in adult patients refractory to conventional therapy. Savient has exclusively licensed worldwide rights to the technology related to KRYSTEXXA and its uses from Duke University ("Duke") and Mountain View Pharmaceuticals, Inc. ("MVP"). Duke developed the recombinant uricase enzyme and MVP developed the PEGylation technology used in the manufacture of KRYSTEXXA. MVP and Duke have been granted U.S. and foreign patents disclosing and claiming the licensed technology and, in addition, Savient owns or co-owns U.S. and foreign patents and patent applications, which collectively form a broad portfolio of patents covering the composition, manufacture and methods of use and administration of KRYSTEXXA. Savient also manufactures and supplies Oxandrin® (oxandrolone tablets, USP) CIII in the U.S. For more information, please visit the Company's website at www.savient.com.
All statements other than statements of historical facts included in this press release are forward-looking statements that are subject to certain risks, trends and uncertainties that could cause actual results and achievements to differ materially from those expressed in such statements. These risks, trends and uncertainties are in some instances beyond our control. Words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "will" and other similar expressions identify forward-looking statements, although not all forward-looking statements contain these identifying words. In particular, any statements regarding the success of our marketing efforts, and market demand, for KRYSTEXXA® are forward-looking statements. These forward-looking statements involve substantial risks and uncertainties and are based on our assessment and interpretation of the currently available data and information, current expectations, assumptions, estimates and projections about our business and the biopharmaceutical and specialty pharmaceutical industries in which we operate. Important factors that may affect our ability to achieve the matters addressed in these forward-looking statements include, but are not limited to, our ability to commercialize KRYSTEXXA; our ability to retain the personnel whom we have hired and to hire the remaining personnel necessary to complete the build out of our commercial team; our reliance on third parties to manufacture KRYSTEXXA; the risk that the market for KRYSTEXXA is smaller than we have anticipated; competition from existing therapies and therapies that are currently under development, including therapies that are significantly less expensive than KRYSTEXXA; our ability to gain market acceptance for KRYSTEXXA among physicians, patients, health care payors and others in the medical community; whether we are able to obtain financing, if needed; economic, political and other risks associated with foreign operations; risks of maintaining protection for our intellectual property; risks of an adverse determination in intellectual property litigation; and risks associated with stringent government regulation of the biopharmaceutical industry and other important factors set forth more fully in our reports filed with the Securities and Exchange Commission, to which investors are referred for further information. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements, which speak only as of the date of publication of this press release. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that we make. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments that we may make. We do not have a policy of updating or revising forward-looking statements and, except as required by law, assume no obligation to update any forward-looking statements.
Source: Savient Pharmaceuticals
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