UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) ~~of the~~

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): January 68, 2014

SAVIENT PHARMACEUTICALS, INC.

(Exact Name of Registrant as Specified in Charter)

Delaware

0-15313

13-3033811

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

400 Crossing Boulevard

Bridgewater, NJ

08807

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (732) 418-9300

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 71.0102. ~~Regulation~~Termination FDof ~~Disclosure~~a Material Definitive Agreement.

AsThe ~~previously~~information ~~announced,~~contained ~~on October~~in Item ~~14, 2013, Savient Pharmaceuticals, Inc~~2.01 ~~(the~~is ~~“Company”)~~incorporated ~~and~~by ~~its~~reference ~~subsidiary,~~into ~~Savient Pharma~~this ~~Holdings, Inc~~Item 1. (collectively, the “Debtors”), filed voluntary petitions (the “Chapter 11 Cases”) for relief under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”)02.

AsItem ~~previously disclosed, on December 13, 2013, the Bankruptcy Court approved a final provisional order on the Debtors’ use of cash collateral~~2. The final form of order did not attach a final cash collateral budget and contemplated that the Debtors, the Official Committee of Unsecured Creditors and the Senior Secured Noteholders would roll forward the existing budget previously filed with the Bankruptcy Court (included in the Debtors’ Initial Monthly Operating Report attached to the Company’s Current Report on Form 8-K filed on November 6, 2013) and work in good faith with regard to certain line items in the budget01. OnCompletion ~~December 30, 2013, the Debtors filed a Notice~~ of ~~Current~~Acquisition ~~Working~~or ~~Draft~~Disposition of ~~Cash Collateral Budget and Illustrative Sources and Uses with the Bankruptcy Court attaching the current working draft of the cash collateral budget and an illustrative sources and uses calculation~~Assets. On January 6, 2014, the Debtors, the Official Committee of Unsecured Creditors and the Unofficial Committee of Senior Secured Noteholders agreed on the final form of cash collateral budget, which assumes the closing of the sale of substantially all of the Debtors’ assets and certain liabilities to Crealta Pharmaceuticals LLC (the “Sale Transaction”) during the week ending January 10, 2014. The final form of cash collateral budget was filed with the Bankruptcy Court on January 6, 2014 with the Certification of Counsel Regarding Final Cash Collateral Order and Budget (the “Certification”).

~~Closing~~As previously disclosed, on October 14, 2013, Savient Pharmaceuticals, Inc. (the “Company”) and its subsidiary, Savient Pharma Holdings, Inc. (collectively, the “Debtors”), filed voluntary petitions (the “Chapter 11 Cases”) for relief under Chapter 11 of Title 11 of the ~~Sale~~United ~~Transaction~~States ~~remains~~Code ~~subject~~(the to“Bankruptcy ~~various~~Code”) ~~closing~~in ~~conditions~~the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).

~~The~~On ~~Certification~~December 11, is2013, ~~attached~~the ~~hereto~~Company asannounced ~~Exhibit~~that, 99pursuant to an auction conducted on December 10, 2013 under the provisions of Section 363 of the Bankruptcy Code (the “Auction”), it had entered into an acquisition agreement (the “Acquisition Agreement”) with Crealta Pharmaceuticals LLC (“Crealta”) through which Crealta would acquire substantially all of the Debtors’ assets and certain liabilities, for gross proceeds of approximately $120.14 million (the “Sale Transaction”). As previously disclosed, on December 13, 2013, the Bankruptcy Court approved an order authorizing the Sale Transaction with Crealta pursuant to the Acquisition Agreement.

~~Cautionary~~On ~~Statement~~January 9, ~~Regarding~~2014, the ~~Certification~~Company completed the Sale Transaction. With the closing of the Sale Transaction, the Debtors have completed the disposition of substantially all of their assets, including all KRYSTEXXA® assets. The Company has agreed to provide to Crealta certain support services in connection with the transition of the business through January 31, 2014.

~~The~~As previously ~~Company~~disclosed, ~~cautions~~on ~~investors~~October 14, ~~and~~2013, ~~potential~~the ~~investors~~Debtors ~~not~~entered tointo ~~place~~an ~~undue~~acquisition ~~reliance~~agreement ~~upon~~ (the ~~information~~“Stalking ~~contained~~Horse inAgreement”) ~~the~~with ~~Certification~~US WorldMeds, ~~which was~~LLC ~~not~~(“US ~~prepared~~WorldMeds”) ~~for~~and ~~the~~its ~~purpose~~subsidiary ofSloan ~~providing~~Holdings ~~the~~C.V. (“Sloan”), ~~basis~~pursuant ~~for~~to anwhich ~~investment~~Sloan ~~decision~~agreed ~~relating~~ to ~~any~~acquire ofsubstantially ~~the~~all ~~securities~~ of the ~~Company.~~Debtors’ ~~The~~assets ~~information contained in the Certification is limited in scope~~ and ~~has~~certain ~~been~~liabilities ~~prepared solely~~ for ~~the~~an ~~purpose~~aggregate ~~of complying~~purchase ~~with~~price ~~requirements~~ of ~~the~~approximately ~~Bankruptcy~~$55 ~~Court. The financial information contained in the Certification was not reviewed by independent accountants~~million, ~~is in a format prescribed by applicable bankruptcy laws, and is~~ subject to ~~future~~receipt ~~adjustment. The~~of ~~financial~~higher ~~information~~or ~~contained~~otherwise inbetter bids at the ~~Certification~~Auction. isIn ~~not~~connection ~~prepared in accordance~~ with ~~accounting~~the ~~principles~~closing ~~generally~~of ~~accepted in~~ the ~~United~~Sale ~~States (“GAAP”) and~~Transaction, ~~therefore,~~on ~~may exclude items required by GAAP~~January 9, ~~such as certain reclassifications~~2014, ~~eliminations,~~the ~~accruals,~~Company ~~valuations~~terminated ~~and disclosures. The financial information contained in~~ the ~~Certification~~Stalking ~~also~~Horse ~~relates~~Agreement pursuant to ~~periods~~its ~~which~~terms ~~are~~and ~~different~~paid ~~from~~$2.4 ~~the~~million ~~historical periods required in the Company’s reports pursuant~~ to ~~the~~US ~~Securities~~WorldMeds ~~Exchange Act of 1934,~~ as ~~amended~~a ~~(the~~break-up ~~“Exchange~~fee ~~Act”)~~and expense reimbursement.

~~Cautionary~~Item ~~Statement~~5.02. ~~Regarding~~Departure ~~Forward-Looking Statements~~of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

~~This Current Report on Form 8-K and Exhibit 99.1 hereto~~ (~~collectively, this “Current Report”~~b) ~~may~~In ~~contain “forward-looking~~connection ~~statements”~~with ~~within~~ the ~~meaning~~closing of the ~~Private~~Sale ~~Securities~~Transaction ~~Litigation~~and ~~Reform~~in ~~Act~~anticipation of ~~1995. Forward-looking statements are those involving future events and future results that are based on current expectations, estimates, forecasts, and projections as well as~~ the ~~current~~winding ~~beliefs and assumptions~~ down of the ~~Company~~Debtors’s ~~management. Forward-looking statements may be identified by words such as “anticipate~~affairs,” ~~“estimate,”~~on ~~“expect~~January 8,~~” “project,”~~ ~~“intend~~2014,” ~~“plan,”~~directors ~~“believe,”~~Ginger ~~“may~~Constantine,” ~~“predict~~MD,” ~~“will,”~~David ~~“would,”~~P. ~~“could~~Meeker,” ~~“should~~MD,” ~~“target”~~David ~~and similar expressions~~Y. ~~All statements~~Norton, ~~contained~~Robert inG. ~~this~~Savage ~~Current Report that are not statements of historical fact~~ and ~~other~~Virgil ~~estimates,~~Thompson ~~projections,~~resigned ~~future~~from ~~trends and~~ the ~~outcome~~board of ~~events~~directors ~~that~~of ~~have~~the ~~not~~Company, ~~yet~~effective ~~occurred referenced in this Current Report should be considered forward-looking statements. Actual results or events could differ materially from those indicated in forward-looking statements~~ as ~~a result~~ of ~~risks and uncertainties, including, among others,~~ the ~~potential~~closing ~~adverse impact~~ of the ~~Chapter~~Sale 11Transaction. ~~Cases~~The ~~on the~~sole ~~Company’s~~remaining ~~liquidity~~director ~~or results~~ of ~~operations, changes in~~ the Company’s ~~ability~~following tosuch ~~meet~~resignations ~~financial~~is ~~obligations~~Stephen ~~during~~O. ~~the~~Jaeger. ~~Chapter~~Also 11in ~~process~~connection orwith ~~to maintain contracts that are critical to~~ the ~~Company’s~~closing ~~operations, the outcome or timing~~ of the ~~Chapter~~Sale 11Transaction ~~process~~ and ~~the~~in ~~related~~anticipation ~~proposed asset sale, the effect~~ of the ~~Chapter~~winding 11down ~~Cases~~of ~~or proposed asset sale on~~ the ~~Company~~Debtors’s ~~relationships~~affairs, ~~with third parties~~on January 8, ~~regulatory authorities and employees~~2014, ~~proceedings that may be brought by third parties in connection with~~ the ~~Chapter~~following 11individuals ~~process~~were orremoved ~~the~~as ~~proposed~~officers ~~asset~~of ~~sale or conditions to~~ the ~~proposed~~Company, ~~asset~~effective ~~sale~~January 15, ~~and~~2014: ~~the~~Philip ~~timing~~K. orYachmetz, ~~amount~~Co-President ofand ~~any~~Chief ~~distributions~~Business toOfficer, ~~the~~John ~~Company’s stakeholders~~P. ~~Many~~Hamill, ofCo-President ~~such~~and ~~factors~~Chief ~~relate~~Financial toOfficer, Richard ~~events~~Crowley, Co-President and ~~circumstances~~Chief ~~that~~Operating ~~are~~Officer, ~~beyond~~Kenneth ~~the Company’s control~~M. ~~You~~Bahrt, ~~should~~MD, ~~not~~Senior ~~place~~Vice ~~undue~~President ~~reliance~~and onChief ~~forward-looking~~Medical ~~statements.~~Officer ~~The~~and ~~Company~~David ~~does~~Gionco, ~~not~~Group ~~assume~~VP ~~any~~of ~~obligation~~Finance toand ~~update~~Chief ~~the~~Accounting ~~information contained in this Current Report~~Officer.

~~Limitation~~(c) onOn ~~Incorporation~~January 8, by2014, ~~Reference~~Mathew Bazley was appointed Chief Liquidation Officer, President and Secretary of the Company, effective January 15, 2014.

~~In accordance with General Instruction B~~Mr.~~2 of Form~~ ~~8-K~~Bazley, ~~the~~41, ~~information~~has inserved ~~this~~as ~~Current~~the ~~Report~~Company’s isAssistant ~~being~~General ~~furnished~~Counsel ~~for~~since ~~informational purposes~~February ~~only~~2013. ~~and~~Prior ~~shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject~~ to ~~the liabilities of~~ that ~~section~~ time, ~~nor~~Mr. Bazley ~~shall~~was ~~such~~an ~~information~~attorney beat ~~deemed~~Skadden, ~~incorporated by reference in any filing under the Securities Act of 1933~~Arps, ~~as amended~~Slate, ~~except~~Meagher asand ~~otherwise~~Flom ~~expressly~~LLP, ~~stated~~from in2006 ~~such~~to ~~filing~~2013. ~~The~~From ~~filing~~2003 ofto ~~this~~2006, ~~current report (including Exhibit 99~~Mr.1 Bazley ~~attached~~was ~~hereto) will not be deemed~~ an ~~admission~~attorney asat to the ~~materiality~~U.S. ofSecurities ~~any~~and ~~information required~~Exchange ~~to be disclosed solely by Regulation FD~~Commission.

~~Additional~~Item ~~Information~~5.03. ~~regarding~~Amendments ~~the~~to ~~Chapter~~Articles 11of ~~Cases~~Incorporation or Bylaws; Change in Fiscal Year.

~~Additional~~On January 8, ~~information~~2014, ~~regarding~~the board of directors of the ~~Chapter~~Company 11adopted ~~Cases~~an isamendment ~~available~~to atthe ~~www.gcginc.com/cases/svnt. This~~Company’s ~~link~~By-Laws isto ~~provided~~reduce ~~for~~the ~~convenience~~minimum number of directors constituting the whole board of directors from three to one and to eliminate the requirement ~~only. Such~~that ~~information~~the ~~shall~~Company ~~not~~have bea ~~deemed~~vice president or treasurer. The amendment to bethe ~~incorporated~~Company’s byBy-Laws ~~reference~~is ~~herein~~attached hereto as Exhibit 3.1.

~~Item~~Cautionary ~~9.01.~~Statement ~~Financial~~Regarding Forward-Looking Statements ~~and Exhibits.~~

This Current Report on Form 8-K (dthis “Current Report”) may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations, estimates, forecasts, and projections as well as the current beliefs and assumptions of the Company’s management. Forward-looking statements may be identified by words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “may,” “predict,” “will,” “would,” “could,” “should,” “target” and similar expressions. All statements contained in this Current Report that are not statements of historical fact and other estimates, projections, future trends and the outcome of events that have not yet occurred referenced in this Current Report should be considered forward-looking statements. Actual results or events could differ materially from those indicated in forward-looking statements as a result of risks and uncertainties, including, among others, the potential adverse impact of the Chapter 11 Cases on the Company’s liquidity, changes in the Company’s ability to meet financial obligations during the Chapter 11 process or to maintain contracts that are critical to the Company’s wind-down of its affairs, the outcome or timing of the Chapter 11 process, the effect of the Chapter 11 Cases or the Sale Transaction on the Company’s relationships with third parties, regulatory authorities, employees and consultants in connection with the Company’s wind-down of its affairs, proceedings that may be brought by third parties in connection with the Chapter 11 process, the ability of the Company to fund the wind-down of its affairs and the timing or amount of any distributions to the Company’s stakeholders. For a discussion of some of the additional risks and important factors that the Company believes could cause actual results or events to differ from the forward-looking statements that it makes, see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Quarterly Report on Form 10-Q for the quarter ended September ~~Exhibits:~~30, 2013. In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results or events to differ from those contained in any forward-looking statements. Accordingly, you should not place undue reliance on any forward-looking statements contained in this Current Report. Any forward-looking statements speak only as of the date of this Current Report. The Company undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.

~~99.1~~Additional ~~Certification~~Information ~~of Counsel~~ Regarding ~~Final~~the ~~Cash~~Chapter ~~Collateral~~11 ~~Order~~Cases ~~and Budget, dated January 6, 2014.~~

2Additional information regarding the Chapter 11 Cases is available at www.gcginc.com/cases/svnt. This link is provided for convenience only. Such information shall not be deemed to be incorporated by reference herein. As a result of the consummation of the Sale Transaction, investors should no longer refer to the Company’s former company website for information.

~~SIGNATURES~~Item 9.01. Financial Statements and Exhibits.

~~Pursuant~~(b) toPro ~~the~~Forma ~~requirements~~Financial ~~of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.~~ Information

	SAVIENT PHARMACEUTICALS, INC.
Date: January 7, 2014	By:	/s/ Philip K. Yachmetz
		Name:	Philip K. Yachmetz
		Title:	Co-President and Chief Business Officer

The Company is currently unable to prepare pro forma financial information reflecting the transactions described in Item 2.01 of this Current Report without unreasonable effort or expense and thus such information is not reasonably available to the Company within the meaning of Rule 12b-21 under the Securities Exchange Act of 1934, as amended. As a debtor-in-possession under the Bankruptcy Code, the Company files monthly operating reports with the Bankruptcy Court, which reports include financial statements that are limited in scope and prepared solely for the purpose of complying with requirements of the Bankruptcy Court. The Company cautions investors and potential investors not to place undue reliance upon the information contained in the monthly operating reports, which are not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company.

~~INDEX~~(d) ~~TO EXHIBITS~~ Exhibits

Exhibit No.		Description
99.1		Certification of Counsel Regarding Final Cash Collateral Order and Budget, dated January 6, 2014.

3.1

Amendment to the By-Laws of Savient Pharmaceuticals, Inc., effective January 8, 2014.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

INDEX TO EXHIBITS


Exhibit No.		Description

3.1		Amendment to the By-Laws of Savient Pharmaceuticals, Inc., effective January 8, 2014.

SAVIENT PHARMACEUTICALS, INC.

Date: January 10, 2014

/s/ Philip K. Yachmetz

Philip K. Yachmetz

Co-President and Chief Business Officer

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