Reuters: Global Markets: Savient to cut jobs, names new CEO

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Savient to cut jobs, names new CEO Jul 9th 2012, 16:40 Mon Jul 9, 2012 11:57am EDT (Reuters) - Savient Pharmaceuticals Inc (SVNT.O) said it would cut about 35 percent of jobs and named a new chief executive as it struggles to stay afloat in the midst of weak sales of its chronic gout drug Krystexxa. Shares OF Savient rose 6 percent to $0.66 after the announcement on Monday. Savient named Louis Ferrari as its CEO to take over from interim CEO David Norton effective immediately. The company expects to take a restructuring and employee severance charge of about $4.7 million for 2012.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions