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Savient says it will continue operations during bankruptcy proceedings

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Bridgewater life sciences company Savient Pharmaceuticals Inc., which announced earlier this week it is pursuing Chapter 11 bankruptcy, said today a court has approved its initial motions to continue operating during that process.

According to the announcement, the approval by the U.S. Bankruptcy Court for the District of Delaware allows the company to conduct its business uninterrupted and continue to meet its operational financial obligations throughout this process, including payment of employee wages and benefits, continued servicing of distributors and wholesalers to ensure timely fulfillment of orders and shipments, and other obligations to physicians and patients who depend on the Krystexxa gout therapy.

Savient filed voluntary petitions under Chapter 11 earlier this week.

Write to the Editorial Department at editorial@njbiz.com

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