Investor Suit Over Savient Gout Drug Reactions Fails

Law360, New York (September 30, 2010, 2:19 PM EDT) -- A federal judge has dismissed an investor lawsuit alleging Savient Pharmaceuticals Inc. held back reports of adverse reactions to its gout drug pegloticase in an effort to get backing from a major drug company.

In a ruling Wednesday, Judge George B. Daniels of the U.S. District Court for the Southern District of New York found that the investors failed to allege with sufficient particularity that Savient intentionally withheld evidence of five nonfatal cardiovascular disease-related serious adverse effects that occurred during testing of the drug in 2007....
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