October 10, 2010 by staff
Gout, Savient Pharmaceuticals Inc. said Thursday a district court of the United States has dismissed a lawsuit alleging the company delayed the release of serious side effects in clinical trials of its gout drug Krystexxa.
Savient said the U.S. District Court for the Southern District of New York dismissed the action, which alleged Savient investors affected by not promptly disclosing serious side effects in five patients in trials at the end of the second stage Krystexxa.
According to Savient, the court ruled the plaintiffs have not presented facts suggesting Savient acted with intent to defraud, recklessness or a conscious disregard of the truth. The court also concluded that the plaintiffs have not shown Savient intentionally misbehaved or was reckless disclosure of data and does not show the company made false or misleading statements or omissions, which violate investors.
The lawsuit was filed in November 2007. Savient Savient and other defendants filed a motion to dismiss in June 2009.
The Food and Drug Administration approved September 14 Krystexxa as a treatment for gout who have not responded to other therapies.
Savient shares were unchanged at 22.87 in trade and after-sales service. The stock rose 10 cents during the day.
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