Savient Sale Proves Demand for Hyaluronic Acid Products
Savient Pharmaceuticals' recent sales of several products, including Nuflexxa hyaluronic acid for knee pain due to osteoarthritis, validates strong market support for hyaluronic acid products.
(PRWEB) March 26, 2005 -- According to E-Hyaluronicacid.com, the March 23, 2005 announcement by Savient Pharmaceuticals Inc. to sell several of its products, validates strong market support for hyaluronic acid products.
Specifically, Savient Pharmaceuticals agreed to sell its global biologics manufacturing business for $80 million to units of Ferring Holding SA, a Swiss biopharmaceutical firm. Savient's biologics manufacturing business includes seven products and most notably, Nuflexxa hyaluronic acid for knee pain due to osteoarthritis.
As part of the deal, Savient and Ferring will co-promote Nuflexxa in the United States. Ferring will focus its efforts for Nuflexxa on the orthopedic surgeon community, while Savient plans to establish a new sales force targeting the rheumatology community for this deal.
In addition, based on its confidence in the hyaluronic acid product, Savient will contribute financial support to the medical education, training and related advertising and marketing programs to support Nuflexxa. Savient will receive 50% of Nuflexxa's worldwide revenue above certain sales targets.
Savient CEO and President Christopher Clement said, "We are pleased to be working with Ferring to market Nuflexxa in the United States, where it recently received FDA approval and is anticipated to launch in the second half of 2005."
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