Savient Pharmaceuticals: FDA Issues Resolved, Inventories Adequate, Manufacturing Clean

Oppenheimer has published a research report for Savient Pharmaceuticals

and is confident in the potential M&A prospects being made available to the company. In the report, Oppenheimer writes "We note that (1) Krystexxa manufacturing is clean, in our view, boding well for discussions with potential acquirors. (2) Prior issues raised by the FDA based on its June 2009 inspection appear to be benign and have already been resolved. (3) Current inventory levels should be adequate for a potential Krystexxa launch by an acquiror. (4) Notably, we continue to anticipate SVNT's acquisition given the attractiveness of Krystexxa as an approved orphan biologic drug." Oppenheimer maintains its Perform rating for Savient Pharmaceuticals, which closed yesterday at $22.77.