Savient Pharmaceuticals Files Form 10-Q For Period Ended September 30, 2005; Meets Final Filing Deadline for All Late Reports Re

Savient Pharmaceuticals, Inc. (NASDAQ: SVNTE), an
emerging specialty pharmaceuticals company focused on developing,
manufacturing and marketing novel therapeutic products for unmet
medical needs, today filed its Form 10-Q for the third quarter of 2005
with the Securities and Exchange Commission (SEC). As a result of
today's filing, Savient now believes that it is in compliance with all
listing requirements of The Nasdaq National Market.
   Christopher Clement, President and Chief Executive Officer of
Savient Pharmaceuticals said, "Through this process, we have continued
to manage and drive the business and advance our strategy. It has been
a long and thorough process, and while our internal controls and
financial reporting practices have been strengthened, we will continue
to work with our financial consultants to improve and modify as
necessary our financial processes and procedures. As always, we wish
to thank our shareholders for their patience and support."
   Today's Form 10-Q filing, as well as Savient's 2005 Form 10-K
amendment and its Forms 10-Q for the quarters ended March 31 and June
30, 2005, remain subject to review by the Nasdaq staff to determine
whether the reports are deemed to be complete. Upon completion of that
review, Savient anticipates that Nasdaq will acknowledge the Company's
compliance with the terms of the Panel's decision and Nasdaq filing
requirements. Soon thereafter, the Company expects the fifth character
"E" to be removed from its trading symbol, at which time the Company
will resume trading under its original trading symbol "SVNT".

   About Savient

   Based in East Brunswick, New Jersey, Savient Pharmaceuticals,
Inc., is an emerging specialty pharmaceuticals company, is engaged in
developing, manufacturing, and marketing pharmaceutical products that
address unmet medical needs in both niche and broader markets. The
Company's lead product development candidate, Puricase(R), for the
treatment of refractory gout has reported positive Phase 1 and 2
clinical data. Savient's experienced management team is committed to
advancing its pipeline and expanding its product portfolio by
in-licensing late stage compounds and exploring co-promotion and
co-development opportunities that fit the Company's expertise in
specialty pharmaceuticals and initial focus in rheumatology. Savient
markets its product Oxandrin(R) (oxandrolone, USP) in the United
States. 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. Rosemont's product portfolio includes over 90 liquid
formulations primarily targeting the geriatric population. Savient's
product Mircette(R), an oral contraceptive, is marketed by its
licensee, Duramed Pharmaceuticals, Inc. Puricase is a registered
trademark of Mountain View Pharmaceuticals, Inc. Further information
on the Company can be accessed by visiting www.savientpharma.com.

   Safe Harbor Statement

   This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934. All
statements, other than statements of historical facts, included in
this report regarding the Company's strategy, expected future
financial position, results of operations, cash flows, financing
plans, discovery and development of products, strategic alliances,
competitive position, plans and objectives of management are
forward-looking statements. Words such as "anticipate," "believe,"
"estimate," "expect," "intend," "plan," "will" and other similar
expressions help identify forward-looking statements, although not all
forward-looking statements contain these identifying words. In
particular, the statements regarding the possible continued listing of
the Company's common stock on The Nasdaq Stock Market are
forward-looking statements. These forward-looking statements involve
substantial risks and uncertainties and are based on current
expectations, assumptions, estimates and projections about the
Company's business and the biopharmaceutical and specialty
pharmaceutical industries in which the Company operates. Such risks
and uncertainties include, but are not limited to, the Company's
ability to complete the restatement of its financial statements
described above on a timely basis, delay or failure in developing
Puricase and other product candidates; difficulties of expanding the
Company's product portfolio through in-licensing; introduction of
generic competition for Oxandrin; fluctuations in buying patterns of
wholesalers; potential future returns of Oxandrin or other products;
the Company's continuing to incur substantial net losses for the
foreseeable future; difficulties in obtaining financing; potential
development of alternative technologies or more effective products by
competitors; reliance on third-parties to manufacture, market and
distribute many of the Company's products; economic, political and
other risks associated with foreign operations; risks of maintaining
protection for the Company's intellectual property; risks of an
adverse determination in on-going or future intellectual property
litigation; and risks associated with stringent government regulation
of the biopharmaceutical and specialty pharmaceutical industries. The
Company may not actually achieve the plans, intentions or expectations
disclosed in its forward-looking statements, and you should not place
undue reliance on the Company's forward-looking statements. Actual
results or events could differ materially from the plans, intentions
and expectations disclosed in the forward-looking statements that the
Company makes. The Company's forward-looking statements do not reflect
the potential impact of any future acquisitions, mergers,
dispositions, joint ventures or investments that the Company may make.
The Company does not assume any obligation to update any
forward-looking statements.