Health and Healthcare
Savient (SVNT) Rises 55% On Bad News
Published:
Last Updated:
Shares in pharma firm Savient (SVNT) are up 55% to $9.13 on what would appear to be very bad news. The FDA issued a statement saying it has safety concerns about the company’s gout drug.
According to the agency, side effects of the drug Krystexxa include sudden death from heart attack and allergic reactions. The silver lining is that the treatment may actually be approved. The FDA commented that it does “does not dispute the efficacy” of the drug.
Reuters reports that“Savient, in a separate document also released on Friday, said the drug was important for patients who have no other options and that it “can be successfully managed with careful clinical monitoring.”
Apparently patient heart attacks are good for the company’s shareholders.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
