Savient and Ferring to co-market Nuflexxa

Under the terms of the agreement, which is contingent upon completion of the sale of Savient’s global biologics manufacturing business to Ferring BV and Ferring International Centre SA, Savient will promote Nuflexxa (1% sodium hyaluronate) to rheumatologists in the US.

Ferring will focus its promotional efforts for Nuflexxa on the orthopedic surgeon community in the US and will market Nuflexxa globally to both rheumatologists and orthopedic surgeons.

Savient plans to establish a new sales force targeting the rheumatology community for this co-promotion effort. In addition, Savient will contribute financial support to the medical education, training and related advertising and marketing programs to support Nuflexxa through December 31, 2008.

In consideration of this investment, Savient will receive 50% of the global revenue of Nuflexxa above agreed revenue thresholds. Savient will also invest $20 million in its sales force and other marketing contributions over the first two calendar years of the agreement, subject to adjustment if the closing of the sale of Savient’s global biologics manufacturing business does not occur on or before July 31, 2005.

Nuflexxa is one of seven products included in the divestiture of the global biologics manufacturing business to Ferring. The closing of the divestiture is subject to a number of conditions, including certain governmental and regulatory approvals. Savient expects that the transaction will close by the end of the first half of 2005.