SEC FORM 4/A

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

HAYWARD SURRY JEREMY

(Last)

(First)

(Middle)

191 COVE ROAD

(Street)

OYSTER BAY COVE

11771

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SAVIENT PHARMACEUTICALS INC [ SVNT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2004

4. If Amendment, Date of Original Filed (Month/Day/Year)
01/04/2005

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common stock, $.01 par value per share	12/31/2004		A		2,310⁽¹⁾	A	$2.71	6,637	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Options to purchase common stock, $.01 par value per share	$2.71	12/31/2004		A		10,000⁽²⁾		12/31/2005	12/31/2014	Common stock, $.01 par value per share	10,000	$2.71	35,833⁽³⁾	D

Explanation of Responses:

1. These shares were granted pursuant to the Company's 2004 Incentive Plan, which provides for the grant to non-employee directors of that number of shares of Common Stock having an aggregate fair market value on the last business day of each quarter equal to $3,750.00, until he is no longer an Outside Director. The non-executive Chairperson is granted that number of shares of Common Stock having an aggregate fair market value on the last business day of each quarter equal to $8,000.00. Mr. Hayward-Surry was elected non-executive Chairperson of the Board on October 21, 2004 and his stock grant was accordingly prorated to such date. On December 31, 2004, the fair market value of the Common Stock, based on the closing price, was $2.71.

2. The non-executive Chairperson receives grants of 10,000 options to purchase Common Stock, $.01 par value per share, on the last day of each quarter. These options will become fully vested and immediately exercisable on 12/31/2005.

3. This amended Form 4 reflects the correct number of options to purchase Common Stock, $.01 par value per share, held by Mr. Hayward-Surry following the grant of 12/31/04, which due to administrative error was incorrectly reported as 40,833 and not the correct 35,833. This also amends the original Form 4 filing on 1/4/05 to reflect a grant of 10,000 options, NOT 15,000 options.

Remarks:

	Beata Smith as Attorney-in-Fact for Jeremy Hayward-Surry	05/13/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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