SAVIENT PHARMACEUTICALS ANNOUNCES EXPECTED AVAILABILITY OF KRYSTEXXA™ FOR PRESCRIPTION AND REPORTS T

Savient Pharmaceuticals, Inc. (Nasdaq: SVNT) today announced that it plans to commence shipments of KRYSTEXXA™ to specialty distributors on November 30, 2010. KRYSTEXXA, a PEGylated uric acid specific enzyme indicated for the treatment of chronic gout in adult patients refractory to conventional therapy, is then expected to be commercially available for prescription as of December 1, 2010. In conjunction with the commercial availability of KRYSTEXXA, Savient plans to launch its reimbursement and pharmacovigilance hotline services on November 22, 2010 for use by prescribers and patients. Savient expects to announce the pricing for KRYSTEXXA at the time it commences commercial distribution.

"The commercial availability of KRYSTEXXA marks another significant milestone for both patients and the company as it is the first FDA approved therapy that addresses a significant unmet medical need in the treatment of chronic gout in adult patients refractory to conventional therapy," said Paul Hamelin R.Ph., President of Savient Pharmaceuticals. "We believe that making KRYSTEXXA commercially available is a significant step towards realizing our mission of transforming the lives of the patients in the U.S. suffering from this crippling disease. These patients have been waiting for decades for a therapy that gives them hope of reversing this severely debilitating disease."

Savient also today reported financial results for the three and nine months ended September 30, 2010. The Company ended the quarter with $78.1 million in cash and short-term investments, a decrease of $10.9 million for the quarter and $30.1 million since December 31, 2009. As of November 2, 2010, the Company had $75.7 million in cash and short-term investments.

For the third quarter of 2010, the Company had a net loss of $59.4 million, inclusive of a non-cash valuation adjustment of $43.2 million relating to warrants, or $0.89 per share, on total revenues of $1.0 million, compared with a net loss of $13.9 million, or $0.23 per share on total revenues of $0.3 million for the same period in 2009