Savient Pharmaceuticals Enters Co-Promotion Agreement with Ferring for

    Pharmaceutical Writers/Business Editors

    EAST BRUNSWICK, N.J.--(BUSINESS WIRE)--March 23, 2005--Savient Pharmaceuticals, Inc. (NASDAQ:SVNT), announced today that it has signed a definitive agreement with Ferring Pharmaceuticals, Inc., a subsidiary of Ferring B.V., a privately owned specialty biopharmaceutical company, to enter a co-promotion agreement to market Nuflexxa(TM) (1% Sodium Hyaluronate) in the United States. Under the terms of the agreement, which is contingent upon completion of the sale of Savient's global biologics manufacturing business to Ferring B.V. and Ferring International Centre SA, subsidiaries of Ferring Holding SA, Savient will promote Nuflexxa to rheumatologists in the United States. Ferring will focus its promotional efforts for Nuflexxa on the orthopedic surgeon community in the United States and will market Nuflexxa globally to both rheumatologists and orthopedic surgeons.
    Savient plans to establish a new sales force targeting the rheumatology community for this co-promotion effort. In addition, Savient will contribute financial support to the medical education, training and related advertising and marketing programs to support Nuflexxa through December 31, 2008. In consideration of this investment, Savient will receive 50% of the global revenue of Nuflexxa above agreed upon revenue thresholds. Savient will invest $20 million in its sales force and other marketing contributions over the first two calendar years of the agreement, subject to adjustment if the closing of the sale of Savient's global biologics manufacturing business does not occur on or before July 31, 2005. Beyond the first two calendar years, Savient's continued contribution to and participation in the co-promotion arrangement is contingent upon the achievement of agreed upon revenue thresholds.
    Christopher Clement, Chief Executive Officer and President, stated, "We are pleased to be working with Ferring to market Nuflexxa in the United States, where it recently received FDA approval and is anticipated to launch in the second half of 2005. This agreement will create a sales force for Savient that will build the necessary visibility for us within the rheumatology community for the commercialization of Puricase, our Phase 2 drug candidate for severe, refractory gout, if it receives regulatory approval."
    Nuflexxa is one of seven products included in the divestiture of the global biologics manufacturing business to Ferring. The closing of the divestiture is subject to a number of conditions, including certain governmental and regulatory approvals. Savient expects that the transaction will close by the end of the first half of 2005.

    About Savient Pharmaceuticals, Inc.

    Savient Pharmaceuticals, Inc., an emerging specialty pharmaceuticals company, is engaged in developing, manufacturing, and marketing pharmaceutical products that address unmet medical needs in both niche and wider markets. Products marketed by Savient in the United States are Oxandrin(R) (oxandrolone, USP) and Delatestryl(R) (testosterone enanthate). The Company's subsidiary, Rosemont Pharmaceuticals Limited, develops, manufactures, and markets through its own sales force oral liquid formulations of prescription products for the UK pharmaceutical market. Savient's product Mircette(R), an oral contraceptive, is marketed by its licensee, Organon, Inc. Savient's news releases and other information are available on the Company's website at www.savientpharma.com. Mircette is a registered trademark of Organon, Inc. and Puricase is a registered trademark of Mountain View Pharmaceuticals, Inc.

    This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this report regarding the Company's strategy, expected future financial position, results of operations, cash flows, financing plans, discovery and development of products, strategic alliances, competitive position, plans and objectives of management are forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "will" and other similar expressions help identify forward-looking statements, although not all forward-looking statements contain these identifying words. In particular, the statements regarding the divestiture of the Company's global biologics manufacturing business and the potential for commercializing the Company's Puricase drug product candidate are forward-looking statements. These forward-looking statements involve substantial risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company's business and the biopharmaceutical and specialty pharmaceutical industries in which the Company operates. Such risks and uncertainties include, but are not limited to, the possibility that the divestiture of our global biologics manufacturing business will fail to close, due to failure to achieve regulatory approval or otherwise; our ability to complete the audit of our financial statements for the year ended December 31, 2004; delay or failure in developing Prosaptide, Puricase and other product candidates; difficulties of expanding the Company's product portfolio through in-licensing; disruption of management and costs associated with the divestiture of the Company's operations in Israel; introduction of generic competition for Oxandrin; fluctuations in buying patterns of wholesalers; potential future returns of Oxandrin or other products; our continuing to incur substantial net losses for the foreseeable future; difficulties in obtaining financing; potential development of alternative technologies or more effective products by competitors; reliance on third-parties to manufacture, market and distribute many of the Company's products; economic, political and other risks associated with foreign operations; risks of maintaining protection for the Company's intellectual property; risks of an adverse determination in on-going or future intellectual property litigation; and risks associated with stringent government regulation of the biopharmaceutical and specialty pharmaceutical industries. The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on the Company's forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that the Company makes. The Company's forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments that the Company may make. The Company does not assume any obligation to update any forward-looking statements.

--30--BS/ny*

CONTACT: Savient Pharmaceuticals, Inc. Jenene Thomas, 732-565-4716 jdthomas@savientpharma.com or Investors/Media: The Ruth Group Stephanie Carrington/Gregory Tiberend 646-536-7017/7005 scarrington@theruthgroup.com gtiberend@theruthgroup.com

KEYWORD: NEW JERSEY INDUSTRY KEYWORD: MEDICAL PHARMACEUTICAL BIOTECHNOLOGY PRODUCT MARKETING AGREEMENTS SOURCE: Savient Pharmaceuticals, Inc.

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