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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (2582)	1/7/2011 10:34:55 AM
From: richardred	Read Replies (2) \| Respond to of 7243

SVNT-Well I was close on this risk. Tried buying some @ 10.30 after a 141,00 block crossed at 10.27. No fills. >Also there could be a risk due to a raw material shortage of an ingredient by a contract manufacturer. UPDATE 1-Savient's gout drug sees manufacturing hiccups Fri Jan 7, 2011 9:31am EST * Expects to incur extra costs of $9-$10 mln * Says on track for Q1 2011 launch * Shares down 4 pct Jan 7 (Reuters) - Savient Pharmaceuticals Inc (SVNT.O) said some batches of its key gout drug failed to meet a manufacturing specification, but it was still on track to roll out Krystexxa in the first quarter of 2011. The East Brunswick, New Jersey-based drugmaker said its third-party contractor manufacturing organization (CMO) in Israel and Merck Biomanufacturing Network saw some batch failures. The failure rate was above the level that it believed would be acceptable for normal ongoing operations, the company said. However, Savient plans to repeat its validation campaign for batches at Merck in 2011, which may lead to additional costs of about $9-$10 million over a two-year period. The company's shares, which have fallen 9 percent since Oct. 25 when the company said it failed to find a buyer, were down 4 percent at $10.59 in pre-market trade on Friday. (Reporting by Shravya Jain in Bangalore; Editing by Vyas Mohan) reuters.com