0001181431-11-048191.txt : 20110906 0001181431-11-048191.hdr.sgml : 20110905 20110906165015 ACCESSION NUMBER: 0001181431-11-048191 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110901 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110906 DATE AS OF CHANGE: 20110906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SAVIENT PHARMACEUTICALS INC CENTRAL INDEX KEY: 0000722104 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] IRS NUMBER: 133033811 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-15313 FILM NUMBER: 111076261 BUSINESS ADDRESS: STREET 1: ONE TOWER CENTER CITY: EAST BRUNSWICK STATE: NJ ZIP: 08816 BUSINESS PHONE: 7324189300 MAIL ADDRESS: STREET 1: ONE TOWER CENTER CITY: EAST BRUNSWICK STATE: NJ ZIP: 08816 FORMER COMPANY: FORMER CONFORMED NAME: BIO TECHNOLOGY GENERAL CORP DATE OF NAME CHANGE: 19920703 8-K 1 rrd321351.htm NEW DIRECTOR 8-K Prepared By R.R. Donnelley Financial -- Form 8-K
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  09/01/2011
 
Savient Pharmaceuticals, Inc.
(Exact name of registrant as specified in its charter)
 
Commission File Number:  0-15313
 
DE
  
13-3033811
(State or other jurisdiction of
  
(IRS Employer
incorporation)
  
Identification No.)
 
One Tower Center
East Brunswick, NJ 08816
(Address of principal executive offices, including zip code)
 
732-418-9300
(Registrant’s telephone number, including area code)
 
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 
Item 5.02.    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
 
On September 1, 2011, the Board of Directors (the "Board") of Savient Pharmaceuticals, Inc. (the "Company"), based upon the recommendation of the Board's Nominating and Corporate Governance Committee, elected William F. Owen, Jr., M.D. and David Y. Norton to serve on the Company's Board of Directors. In connection with the election, the Board expanded the size of the Board to eight directors. Dr. Owen and Mr. Norton will each serve for a term expiring at the Company's annual meeting of stockholders in 2012 and until their respective successors shall have been elected and qualified or until their earlier resignation or removal.

Dr. Owen, age 56, currently serves as President of the University of Medicine & Dentistry of New Jersey. Previously, Dr. Owen held the position of Chancellor, Health Science Center and Vice President for Health Affairs at the University of Tennessee. Prior to his position with the University of Tennessee, he served as chief scientist for Baxter Healthcare Corporation's renal division while holding an adjunct appointment as professor of medicine at Duke University School of Medicine.   

Mr. Norton, age 60, recently retired as Company Group Chairman, Global Pharmaceuticals for Johnson & Johnson, a global company engaged in the research and development, manufacture and sale of products in the health care field. Mr. Norton previously served as Johnson & Johnson's Company Group Chairman, Worldwide Commercial and Operations for the CNS, Internal Medicine and Virology franchise and had held the position of Company Group Chairman for the pharmaceutical businesses in Europe, Middle East, and Africa, as well as for North America and Canada.

There is no agreement or understanding between either of Dr. Owen or Mr. Norton and any other person pursuant to which either of them was appointed to the Board. Neither of Dr. Owen or Mr. Norton is a party to any transaction, or series of transactions, required to be disclosed pursuant to Item 404(a) of Regulation S-K.

The Board has appointed Dr. Owen to serve on its Nominating and Corporate Governance Committee, and Mr. Norton to serve on its Audit and Finance Committee and Compensation and Human Resources Committee.

Dr. Owen and Mr. Norton shall receive compensation for serving on the Board and its committees pursuant to the Board compensation plan that was previously disclosed in the Company's filings with the SEC.

The full text of the press release issued in connection with Dr. Owen and Mr. Norton's election to the Board is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 
 
Item 9.01.    Financial Statements and Exhibits
 
See Exhibit Index attached hereto.
 

 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
           
Savient Pharmaceuticals, Inc.
 
 
Date: September 06, 2011
     
By:
 
/s/    Philip K. Yachmetz
               
Philip K. Yachmetz
               
SVP & General Counsel
 
 

 

EXHIBIT INDEX
 
Exhibit No.
  
Description
EX-99.1
  
Press Release dated September 6, 2011
EX-99 2 rrd321351_35886.htm PRESS RELEASE DATED SEPTEMBER 6, 2011 [Savient Pharmaceuticals, Inc

[Savient Pharmaceuticals, Inc.]

Contact:

Mary Coleman

Savient Pharmaceuticals, Inc.

information@savient.com

(732) 418-9300

Carney Noensie

Burns McClellan

cnoensie@burnsmc.com

(212) 213-0006

Savient Announces the Election of William F. Owen, Jr., M.D.

and David Y. Norton to its Board of Directors

EAST BRUNSWICK, N.J. - (September 6, 2011) - Savient Pharmaceuticals, Inc. (NASDAQ: SVNT) today announced that William F. Owen, Jr., M.D. and David Y. Norton have been elected to the Company's Board of Directors, effective September 1, 2011.

"We believe that Bill and David bring unique and relevant experience to our board of directors that will complement and be immediately beneficial to our board and senior management team," said Stephen O. Jaeger, Chairman of the Board of Savient.

Dr. William F. Owen, Jr. currently serves as President of the University of Medicine & Dentistry of New Jersey, the nation's largest publicly funded health sciences university, which includes a state wide system of health sciences education, biomedical research and healthcare facilities. Previously, Dr. Owen held the position of Chancellor, Health Science Center and Vice President for Health Affairs at the University of Tennessee. Prior to his position with the University of Tennessee, he served as chief scientist for Baxter Healthcare Corporation's renal division while holding an adjunct appointment as professor of medicine at Duke University School of Medicine. His academic career includes 14 years of faculty experience with Harvard Medical School and Duke University while his clinical experience includes 12 years as a clinical and academic staff physician with Brigham and Women's Hospital in Boston. He was named a senior scholar at Duke's Fuqua School of Business in its health sector management program. Dr. Owen holds a bachelor's degree from Brown University and a Doctor of Medicine degree from Tufts University School of Medicine. He completed an internship and residency in medicine and a fellowship in nephrology at Brigham and Women's Hospital and a postdoctoral research fellowship in immunology at the Harvard Medical School. Dr. Owen currently serves on the boards of several academe, healthcare and civic organizations and was formerly a member of the Medicare Coverage Advisory Committee for the Center for Medicare & Medicaid Services.

David Y. Norton recently retired as Company Group Chairman, Global Pharmaceuticals for Johnson & Johnson where he was responsible for leading and developing the strategic growth agenda, including the strategy for licensing, acquisitions and divestments, and ensuring alignment with global strategic functions, research and development and the commercial organizations. Mr. Norton previously served as Johnson & Johnson's Company Group Chairman, Worldwide Commercial and Operations for the CNS, Internal Medicine and Virology franchise and had held the position of Company Group Chairman for the pharmaceutical businesses in Europe, Middle East, and Africa, as well as for North America and Canada. During his thirty-two year career at Johnson & Johnson, Mr. Norton has held a wide range of management positions of increasing responsibility in Europe, Australia, New Zealand and the United States. He began his career there as a product manager for Janssen Pharmaceutica in Australia and advanced to international product manager at Janssen's Belgium headquarters where he later served as managing director of Janssen Australia and New Zealand.  Mr. Norton is currently Chairman of the Board of Directors of the American Foundation for Suicide Prevention. He previously served as a member of the Board of Directors of the Pharmaceutical Research and Manufacturers of America (PhRMA) and was a Board member of the Alliance for Aging Research. Mr. Norton obtained his degree from the College of Distributive Trades, London.

"With David's extensive global commercial experience in the pharmaceutical and biotechnology industry coupled with Bill's distinguished background in nephrology, academic medicine, clinical healthcare, and scientific research, we believe their insight will prove invaluable as we continue to execute on our core strategies to launch KRYSTEXXA(R) successfully in the U.S. and to expand its clinical utility and geographic market opportunities going forward," said John H. Johnson, Chief Executive Officer and President of Savient.

ABOUT SAVIENT PHARMACEUTICALS, INC.Savient Pharmaceuticals, Inc. is a specialty biopharmaceutical company focused on developing and commercializing KRYSTEXXA(R) (pegloticase) for the treatment of chronic gout in adult patients refractory to conventional therapy. Savient has exclusively licensed worldwide rights to the technology related to KRYSTEXXA and its uses from Duke University ("Duke") and Mountain View Pharmaceuticals, Inc. ("MVP"). Duke developed the recombinant uricase enzyme and MVP developed the PEGylation technology used in the manufacture of KRYSTEXXA. MVP and Duke have been granted U.S. and foreign patents disclosing and claiming the licensed technology and, in addition, Savient owns or co-owns U.S. and foreign patents and patent applications, which collectively form a broad portfolio of patents covering the composition, manufacture and methods of use and administration of KRYSTEXXA. Savient also manufactures and supplies Oxandrin(R) (oxandrolone tablets, USP) CIII in the U.S. For more information, please visit the Company's website at www.savient.com.

###

 

SVNT- G