Krystexxa Cleared For Refractory Gout, Could Reach Patients By Year's End
This article was originally published in The Pink Sheet Daily
Despite black box warning for anaphylaxis and infusion reactions, label and risk plan are seen as "benign" by analysts.
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A startup called Crealta Pharmaceuticals will acquire most of Savient’s assets, including the marketed gout drug Krystexxa, for $120.4 million following a bankruptcy court auction.
The $1.26 billion buyout comes as the pharma is looking to bolt-on acquisitions to help offset recent late-stage pipeline disappointments and sees Ardea’s lesinurad as a potential improvement in gout therapy, an estimated $2 billion global market.
Eli Lilly's oncology head John Johnson has been named to the top post at Savient Pharmaceuticals as the company tries to rebound from a failed sales attempt.