SVNT (buy) updated 5/28/11 to strong buy
December 29th, 2010 by BiotechInvest
I like SVNT product because they are using the innovative approach to cure goat. So, I did several short-term investments in SVNT during last 2 years (most of them were successful). May be because they were short-term and at bottom price. Last time it was very short-term just 6 days and price jumped from $14.38 to $19.76. Many investors continued to keep SVNT and wait for asquisition. Finally they got only losses.
OK, this time I again in. I'm waiting for good earning release. According this news, earning should be good:
"A specialty distribution network has been established that will allow healthcare providers direct access for ordering KRYSTEXXA. The wholesale acquisition cost (WAC) of KRYSTEXXA will be priced at $2,300.00 per 8 mg vial for IV administration. Savient is committed to providing patients access to our breakthrough therapy KRYSTEXXA. Through the KRYSTEXXA Connexxions™ program, Savient offers patients and healthcare providers coverage and reimbursement support, patient assistance and informational resources. Patient assistance support is currently available for those eligible patients in the United States who do not have insurance coverage. Additionally, Savient intends to expand the KRYSTEXXA Connexxions program to include a co-payment support program in the coming weeks. For more information, please visit www.krystexxa.com."
KRYSTEXXA is very effective drug and may be prescribed to approximately 50,000 patients or about 1% of the overall population of patients with gout in the US. So, simple math give next sales numbers: $2,300 X50,000 = $115M only for 1 IV infusion. If 6 month course and every 4 weeks: $690M per year. Europe and other counties also have goat patients.
Strange, but I don't see any fund analysts who did this simple math. They just ignored SVNT. OK, I'm not.
Disclosure: opened 3k SVNTpositions today.
March 25, 2011 by BiotechInvest
I sold SVNT I'm still positive about this company. Q1 2011 results should be very interesting. Recent news were very promising.
May 28, 2011 by BiotechInvest
Finally we have a good news from SVNT:
"Savient Pharmaceuticals, Inc. (Nasdaq:SVNT - News) today announced that the Marketing Authorization Application (MAA), filed by its wholly owned subsidiary, Savient Pharma Ireland Limited, seeking approval of KRYSTEXXA® (pegloticase) for the treatment of chronic gout in adult patients refractory to conventional therapy, has completed validation by the European Medicines Agency (EMA). The MAA has been deemed valid by the EMA which determination initiates the EMA's regulatory review process. The MAA includes safety and efficacy data from Savient's pivotal Phase 3 and long-term open label extension studies of KRYSTEXXA, as well as detailed information on non-clinical studies and chemistry, manufacturing and control of production."
If EMA approved almost useless ITMN IPF drug (rejected by FDA) there are no doubts that Krystexxa will be approved. Sure that China also needs this drug and in this case the number of patients could be huge.
Disclosure: no SVNT positions today, possibly will open it in next trading day.