Savient tumbles 23% on US gout drug sales misses, as firm files European app
This article was originally published in Scrip
Executive Summary
Savient Pharmaceuticals' good news that its marketing authorization application (MAA) for its chronic gout drug Krystexxa (pegloticase) is now in the hands of European regulators was not enough to stave off investors' concerns on 5 May about the drug's slow US sales and worries over its Medicare billing status, which had the company's shares tumbling as low as 23%, or $2.56.