Savient Pharmaceuticals, Inc. (SVNT)'s Loss Widens on Higher Krystexxa Costs
5/9/2012 7:49:59 AM
Savient Pharmaceuticals Inc, under pressure from its largest creditor to liquidate itself, reported a larger-than-expected first-quarter loss on higher costs related to selling its gout drug Krystexxa. January-March net loss widened to $34.2 million, or 49 cents per share, from $13.5 million, or 19 cents per share, last year. Revenue more than doubled to $3.5 million. Sales of Krystexxa contributed nearly 90 percent to the total revenue. Cost of goods sold more than tripled to $1.7 million. Analysts on average had expected a loss of 46 cents per share on revenue of $4.6 million, according to Thomson Reuters I/B/E/S.