Shares in Savient Pharmaceuticals fell as much as 51 percent Monday after the drugmaker announced that it had failed to find a suitable buyer for the company. Savient said that its board of directors will continue to "evaluate strategic alternatives" for the company.
Reference Articles
Savient’s auction didn’t result in sale, company - (Bloomberg)
Savient fails to find suitor, shares tank - (Fidelity)
Savient Pharmaceuticals provides update on strategic alternatives process - (Savient Pharmaceuticals)
Savient Pharma unable to find suitable buyer; shares down - (Stock Markets Review)
Savient shares drop as no sale occurs; working on drug launch (free preview) - (The Wall Street Journal)
Savient Pharma: No sale - (TheStreet.com)
**Published in "First Word"
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