Savient Pharmaceuticals Provides Update on Strategic Alternatives

Savient Pharmaceuticals, Inc.

today announced that its previously announced process to identify, following the approval of KRYSTEXXA™ by the U.S. Food and Drug Administration, a strategic transaction for the sale of the Company did not result in a sale of the Company at this time. The board of directors will continue to evaluate strategic alternatives available to the Company to maximize value. The Company is working toward the commercial launch of KRYSTEXXA, which it expects will be available by prescription in the U.S. later this year. The Company will host a conference call on Tuesday, October 26, 2010, at 8:30 a.m. during which it will provide further detail around its launch plans.