Individuals can listen to a live webcast of the presentation by logging on to the Investor Relations section of Savient Pharmaceuticals' Web site at http://www.savient.com. A replay of the webcast will be available on the Company's Web site for 30 days.

ABOUT SAVIENT PHARMACEUTICALS, INC.

Savient Pharmaceuticals, Inc. is a specialty biopharmaceutical company focused on developing KRYSTEXXA(TM) (pegloticase) for the treatment of chronic gout in patients refractory to conventional therapy. Savient has exclusively licensed worldwide rights to the technology related to KRYSTEXXA, formerly referred to as Puricase(R), from Duke University and Mountain View Pharmaceuticals, Inc. Savient also manufactures and supplies Oxandrin(R) (oxandrolone tablets, USP) CIII in the U.S. Puricase is a registered trademark of Mountain View Pharmaceuticals, Inc.

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This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Savient Pharmaceuticals Inc

CONTACT:  Savient Pharmaceuticals, Inc.
Mary Coleman
(732) 418-9300
information@savient.com
Burns McClellan
Susan Neath
(212) 213-0006
sneath@burnsmc.com

Savient has priced an underwritten public offering of 4.3 million shares of its common stock at a price of $13.29 per share.

In addition, Savient has granted the underwriters a 30-day option to purchase up to an additional 0.645 million shares of common stock to cover over-allotments.

The offering is expected to close on October 15, 2009.

Announcement (October 7, 2009):

Savient has filed a shelf registration statement with the US Securities and Exchange Commission (SEC) to issue 4 million shares of its common stock in an underwritten public offering.

Savient has granted the underwriters a 30 day option to purchase up to a 0.6 million additional shares of common stock to cover over-allotments, if any.

J.P. Morgan Securities, Inc. is acting as sole book-running manager, Wedbush PacGrow Life Sciences is acting as a lead manager and Lazard Capital Markets is acting as co-manager for the offering.

Deal Value (US$ Million) 65.72
Deal Type                IPO
Sub-Category             Secondary Offering
Deal Status              Completed: 2009-10-15

Deal Participants

Target (Company) Savient Pharmaceuticals, Inc. (Formerly Bio-Technology General Corporation)

Deal Rationale

Savient will use the proceeds to seek FDA approval of KRYSTEXXA(T) (pegloticase), to develop a program of regulatory filings and review of KRYSTEXXA in other countries, to engage a global secondary source supplier and a secondary fill and finish manufacturer for pegloticase, and for working capital, and other general corporate purposes.

Offer Price ($ per share) 13.29
No. Shares Issued         4945000

J.P. Morgan Securities Inc. acted as sole book-running manager of the offering, with Wedbush PacGrow Life Sciences as lead manager and Lazard Capital Markets as co-manager. Copies of the final prospectus supplement and accompanying prospectus may be obtained by contacting J.P. Morgan Securities Inc., Attention: Prospectus Department, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

ABOUT SAVIENT PHARMACEUTICALS, INC.

Savient Pharmaceuticals, Inc. is a specialty biopharmaceutical company focused on developing KRYSTEXXA(TM) (pegloticase) for the treatment of chronic gout in patients refractory to conventional therapy. Savient has exclusively licensed worldwide rights to the technology related to KRYSTEXXA, formerly referred to as Puricase(R), from Duke University and Mountain View Pharmaceuticals, Inc. Savient also manufactures and supplies Oxandrin(R) (oxandrolone tablets, USP) CIII in the U.S. Puricase is a registered trademark of Mountain View Pharmaceuticals, Inc.

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SOURCE Savient Pharmaceuticals, Inc.

http://www.savient.com

A shelf registration statement on Form S-3 relating to the shares was filed with the Securities and Exchange Commission on September 24, 2007 and became effective on October 10, 2007. Information about the offering is available in the prospectus supplement to be filed with the Securities and Exchange Commission. J.P. Morgan Securities Inc. is acting as sole book-running manager of the offering, with Wedbush PacGrow Life Sciences as lead manager and Lazard Capital Markets as co-manager.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. Copies of the prospectus supplement and accompanying prospectus may be obtained by contacting J.P. Morgan Securities Inc., Attention: Prospectus Department, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245.

ABOUT SAVIENT PHARMACEUTICALS, INC.

Savient Pharmaceuticals, Inc. is a specialty biopharmaceutical company focused on developing KRYSTEXXA(TM) (pegloticase) for the treatment of chronic gout in patients refractory to conventional therapy. Savient has exclusively licensed worldwide rights to the technology related to KRYSTEXXA, formerly referred to as Puricase(R), from Duke University and Mountain View Pharmaceuticals, Inc. Savient also manufactures and supplies Oxandrin(R) (oxandrolone tablets, USP) CIII in the U.S. Puricase is a registered trademark of Mountain View Pharmaceuticals, Inc.

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SOURCE Savient Pharmaceuticals, Inc.

http://www.savient.com