Savient loses on low Krystexxa sales, adopts poison pill

Savient Pharmaceuticals ($SVNT) posted just $4 million in sales of its gout drug Krystexxa, a 30% increase year-over-year, but not enough to save the company from a $16.4 million loss for the period. Meanwhile, the company adopted a "poison pill" rights plan to fend off unwanted suitors--and to defend against disgruntled creditor Tang Capital Partners. Release | Report