Exhibit 99.3

[SAVIENT LOGO]


FOR IMMEDIATE RELEASE:


   SAVIENT PHARMACEUTICALS, INC. ANNOUNCES DELAY IN FILING SECOND QUARTER 10-Q


EAST BRUNSWICK, N.J., AUGUST 15, 2005 - Savient Pharmaceuticals, Inc., (NASDAQ:
SVNT) an emerging specialty pharmaceutical company engaged in developing,
manufacturing and marketing pharmaceutical products that address unmet medical
needs in niche and broader markets, announced today that it will not file today
its Quarterly Report on Form 10-Q for the quarter ended June 30, 2005 with the
Securities and Exchange Commission. The Company had previously filed with the
SEC a Form 12b-25 Notification of Late Filing, which extended the deadline for
filing the June 30, 2005 Form 10-Q to today.

The Company has delayed the filing of the June 30, 2005 Form 10-Q to permit it
to continue to evaluate the nature and extent of errors that the Company may
have made in recording its reserve for returns in previous financial statements.
The Company determines its reserves for sales returns based, in part, on
notifications received from customers advising the Company through its
third-party fulfillment center of their intent to return product. The Company
subsequently determined that certain of those reported returns were in error in
that actual units of product returned were significantly less than the amounts
originally expected to be returned. This occurred in part because the customer's
request was not fully understood by the returned goods coordinator at the
third-party fulfillment center.

As promptly as practicable following the completion of its evaluation, the
Company intends to file its June 30, 2005 Form 10-Q and such amendments to any
prior filing that the Company determines are necessary. Until this evaluation is
completed, and the June 30, 2005 Form 10-Q is filed, the Company does not
believe that investors should rely on the unaudited results for three and the
six months ended June 30, 2005, that the Company announced in its August 9, 2005
press release and discussed in its August 9, 2005 conference call. Because the
errors made in recording reserves for returns may also have affected the
Company's financial results for the fiscal year ended December 31, 2004, the
Company also does not believe that investors should rely on the audited
financial statements included in its December 31, 2004 Annual Report on Form
10-K (as amended).

ABOUT SAVIENT PHARMACEUTICALS, INC.

Based in East Brunswick, New Jersey, Savient Pharmaceuticals, Inc. is a
specialty pharmaceutical company dedicated to developing, manufacturing and
marketing novel therapeutic products that address unmet medical needs. The
Company's lead product development candidate, Puricase(R), for the treatment of
refractory gout has reported positive Phase 1 and 2 clinical data. Savient's
experienced management team is committed to advancing its pipeline and expanding
its product portfolio by in-licensing late stage compounds and exploring
co-promotion and co-development opportunities that fit the Company's expertise
in specialty pharmaceuticals and initial focus in rheumatology. The Company's
operations also include a wholly-owned U.K. subsidiary, Rosemont Pharmaceuticals
Ltd., which develops, manufactures and markets liquid formulations of
prescription pharmaceutical products. Rosemont's product portfolio includes over
90 liquid formulations primarily targeting the geriatric population. Puricase is
a registered trademark of Mountain View Pharmaceuticals, Inc. Further
information on the Company can be accessed by visiting www.savientpharma.com
.



SAFE HARBOR STATEMENT

This news release contains forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934. All statements, other than
statements of historical facts, included in this report regarding the Company's
strategy, expected future financial position, discovery and development of
products, strategic alliances, competitive position, plans and objectives of
management are forward-looking statements. Words such as "anticipate,"
"believe," "estimate," "expect," "intend," "plan," "will" and other similar
expressions help identify forward-looking statements, although not all
forward-looking statements contain these identifying words. In particular, the
statements as to timing of the filing of the Company's June 30, 2005 Form 10-Q,
whether any amendments to any prior filing are necessary and the timing of the
filing of any such amendments are forward-looking statement. These
forward-looking statements involve substantial risks and uncertainties and are
based on current expectations, assumptions, estimates and projections about the
Company's business and the biopharmaceutical and specialty pharmaceutical
industries in which the Company operates. Such risks and uncertainties include,
but are not limited to, delay or failure in developing Prosaptide, Puricase and
other product candidates; difficulties of expanding the Company's product
portfolio through in-licensing; introduction of generic competition for
Oxandrin; fluctuations in buying patterns of wholesalers; potential future
returns of Oxandrin or other products; our continuing to incur substantial net
losses for the foreseeable future; difficulties in obtaining financing;
potential development of alternative technologies or more effective products by
competitors; reliance on third-parties to manufacture, market and distribute
many of the Company's products; economic, political and other risks associated
with foreign operations; risks of maintaining protection for the Company's
intellectual property; risks of an adverse determination in on-going or future
intellectual property litigation; and risks associated with stringent government
regulation of the biopharmaceutical and specialty pharmaceutical industries. The
Company may not actually achieve the plans, intentions or expectations disclosed
in its forward-looking statements, and you should not place undue reliance on
the Company's forward-looking statements. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in the
forward-looking statements that the Company makes. The Company's forward-looking
statements do not reflect the potential impact of any future acquisitions,
mergers, dispositions, joint ventures or investments that the Company may make.
The Company does not assume any obligation to update any forward-looking
statements.

SOURCE:  Savient Pharmaceuticals, Inc.

CONTACTS:
Savient Pharmaceuticals, Inc.
Jenene Thomas
Director, Investor Relations
732-565-4716
jdthomas@savientpharma.com

Investors/Media:
The Ruth Group
Francesca DeMartino/Janine McCargo
646-536-7024/7033
fdemartino@theruthgroup.com
jmccargo@theruthgroup.com