Market Commentary and Intraday News
Savient Pharmaceuticals hires John Hamill as CFO
238 days ago
(AP:BRIDGEWATER, N.J.) Savient Pharmaceuticals Inc. on Monday named John Hamill named as its chief financial officer.
Hamill was previously CFO of PharmaNet Development Group, a drug development services company. Savient's previous chief financial officer, Kenneth Zueblis, resigned on May 29.
Savient makes the gout drug Krystexxa. Krystexxa has been on the market since late 2010, but sales have been disappointing.
In July, Savient said it would eliminate 60 jobs, or about 35 percent of its work force, to reduce its costs.
The company also named Louis Ferrari as its new president and CEO in July. Former president and CEO John H. Johnson left the company in February to take same position at cancer drug maker Dendreon Corp.
Last month, Savient said sales of Krystexxa totaled $4 million in the three months ended June 30, up 29 percent from $3.1 million in the first quarter of the year.
Shares of Savient rose 8 cents, or 3.2 percent, to $2.58 in morning trading.
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