Savient Pharmaceuticals, Inc. Acquires Exclusive Rights To Alzheimer's Drug; NIH To Provide Funding For Phase II Clinical Trial.

Business Editors/Health/Medical Writers

BIOWIRE2K

EAST BRUNSWICK, N.J.--(BUSINESS WIRE)--July 22, 2003

Savient Pharmaceuticals, Inc. (NASDAQ:SVNT) announced today that it has acquired exclusive rights from Marco Hi-Tech JV Ltd. (Marco), to exclusively market in the United States and Europe Huperzine-A, a product for the treatment of Alzheimer's disease.

Research undertaken at Walter Reed Army Medical Research Institute has shown that Huperzine-A decreases neuronal cell death caused by toxic levels of glutamate, which is associated with Alzheimer's disease. Huperzine-A is believed to inhibit acetylcholinesterase and enhance cholinergic neurotransmissions. Products on the market for the treatment of Alzheimer's disease such as Aricept are acetylcholinesterase inhibtors.

Based on safety data already generated in a Phase I study, to be supplemented by data anticipated from an extension study about to be completed, a Phase II Huperzine-A clinical trial, that will be substantially funded by a National Institutes of Health grant, is being planned. If, upon completion of the Phase II study, Savient elects to proceed with further development of Huperzine-A, it will conduct and fund Phase III clinical trials. Upon commercialization, Savient will exclusively market the product in the licensed territories.

Savient acquired the rights to Huperzine-A through an equity investment in Marco. Specific terms of the transaction have not been disclosed.

Sim Fass, Chairman and Chief Executive Officer of Savient, stated: "Our investment in a promising compound for Alzheimer's disease, a devastating condition believed to affect some four million individuals in the United States alone, provides us with the right, following Phase II, to conduct Phase III studies and to exclusively market the drug in the United States and Europe. The acquisition of rights to Huperzine-A strengthens our corporate commitment to the field of neurological medicine that began with our acquisition of Prosaptide."

Savient is developing several proprietary drugs, among them Prosaptide, a nerve growth factor peptide for peripheral neuropathic pain, in Phase II, Puricase(R) for intractable gout, in Phase I, and BTG-271, an anti-leukemia agent in pre-clinical development.

About Savient Pharmaceuticals, Inc.

Savient Pharmaceuticals, Inc. (formerly Bio-Technology General Corp.) is a specialty pharmaceutical company with expertise in developing, manufacturing, and marketing human health care products for niche and wider markets. Products marketed by Savient's sales force in the United States are Oxandrin(R) (oxandrolone, USP) and Delatestryl(R) (testosterone enanthate). The Company's subsidiary, Rosemont Pharmaceuticals Limited, develops, manufactures, and markets through its own sales force oral liquid formulations of prescription products for the UK pharmaceutical market. The Company's Israeli subsidiary, Bio-Technology General (Israel) Ltd., manufactures and markets in Israel Bio-Tropin(TM) (recombinant human growth hormone), BioLon(TM) (sodium hyaluronate), Bio-Hep-B(R) (hepatitis B vaccine), and Arthrease(TM) (sodium hyaluronate for osteoarthritis). Products marketed by Savient's licensees are Mircette(R) (oral contraceptive), and BioLon(TM) in the United States, and Bio-Tropin(TM), BioLon(TM), Bio-Hep-B(R), Silkis(R) (vitamin D derivative), Arthrease(TM), and recombinant human insulin, in international markets. Savient's news releases and other information are available on the Company's website at www.savientpharma.com.

Arthrease is a trademark of DePuy Orthopaedics, Inc.; Mircette is a registered trademark of Organon, Inc.; Silkis is a registered trademark of Galderma S.A.

Statements in this news release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to, changes and delays in product development plans and schedules, customer acceptance of new products, development, introduction, or consumer acceptance of competing products, changes in pricing or other actions by competitors, patents owned by the Company and its competitors, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission.