Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit Against Savient Pharmaceuticals, Inc.

Coughlin Stoia Geller Rudman & Robbins LLP ("Coughlin Stoia”) (http://www.csgrr.com/cases/savient/) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Savient Pharmaceuticals, Inc. ("Savient”) (NASDAQ:SVNT) securities during the period between December 13, 2007 and October 24, 2008 (the "Class Period”).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Darren Robbins of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/savient/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Savient and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Savient is a specialty biopharmaceutical company focused on developing and marketing pharmaceutical products that target unmet medical needs. The Company is developing Puricase, also referred to as pegloticase, for the control of uric acid in patients with gout, whose signs and symptoms are inadequately controlled by conventional urate lowering therapy due to ineffectiveness, dose limiting toxicity, hypersensitivity or other contraindications.

The complaint alleges that during the Class Period, defendants made false and misleading statements about two clinical trials of pegloticase called GOUT 1 and GOUT 2. Specifically, defendants failed to disclose five serious adverse events ("SAEs”) experienced by patients in those studies. Subsequently, on October 27, 2008, before the markets opened, the Company issued a press release that disclosed, among other things, the previously undisclosed SAEs. As a result of this disclosure, Savient’s stock price declined significantly.

Plaintiff seeks to recover damages on behalf of all purchasers of Savient securities during the Class Period (the "Class”). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm.