News Column

Crealta Pharmaceuticals Purchases Assets of Savient Pharmaceuticals

January 24, 2014

Crealta Pharmaceuticals , a specialty pharmaceutical company, announced the completion of the acquisition of substantially all of the assets of Savient Pharmaceuticals . According to a release, Crealta previously announced the winning of an auction for these assets, the signing of a definitive acquisition agreement with Savient, and the subsequent approval of the transaction by the U.S. Bankruptcy Court for the District of Delaware . The key asset acquired by Crealta is KRYSTEXXA (pegloticase), a novel biologic product that was approved by the FDA in 2010. KRYSTEXXA is a PEGylated uric acid specific enzyme, or uricase, that has been shown to statistically significantly reduce uric acid levels for many patients with refractory chronic gout. "We are tremendously excited to have completed the transaction, and more importantly, to ensure the continued availability of this critical product," commented Ed Fiorentino , Chairman and CEO of Crealta. "Crealta is committed to providing outstanding support and service to healthcare professionals and the patients that they serve with refractory chronic gout." Crealta was established in August 2013 in partnership with GTCR, a private equity firm. More Information: www.crealtapharma.com www.gtcr.com ((Comments on this story may be sent to newsdesk@closeupmedia.com ))


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