Savient Pharmaceuticals, Inc. (SVNT - Free Report) recently entered into an agreement with Swedish Company Sobi for the co-promotion of Kineret (anakinra) in the US.
Kineret is approved for the reduction in signs and symptoms along with slowing the progression of structural damage in patients (18 years of age or older) suffering from moderately-to-severely active rheumatoid arthritis.
The patients have failed one or more disease modifying antirheumatic drugs (DMARDs).
The label of Kineret was expanded in Jan 2013 when the US Food and Drug Administration (FDA) approved the drug for the treatment of children and adults suffering from neonatal-onset multisystem inflammatory disease (NOMID). NOMID is a severe form of Cryopyrin-Associated Periodic Syndromes (CAPS).
The agreement provides Savient the exclusive right to co-promote Kineret with Sobi in the US. Savient will market and promote Kineret from Apr 1, 2013.
Savient believes that Kineret complements the key focus of the company as it works to build upon its existing relationships with rheumatologists and patients while marketing its lead product, Krystexxa.
Krystexxa is approved in the US for the treatment of refractory chronic gout. Meanwhile, Savient also received marketing authorization for Krystexxa from the EC.
Savient gained approval from the EC for the treatment of severe debilitating chronic tophaceous gout in adults with erosive joint involvement.
These patients failed to normalize serum uric acid with xanthine oxidase inhibitors at the highest dose.
Currently, Savient Pharmaceuticals carries a Zacks Rank #3 (Hold). Pharma stocks that look better-placed include Array Biopharma (ARRY - Free Report) , Agenus Inc (AGEN - Free Report) and Alkermes (ALKS - Free Report) , all three carrying a Zacks Rank #2 (Buy).