CMS issues J-code for Savient's KRYSTEXXA

Savient Pharmaceuticals, Inc. (Nasdaq: SVNT) announced that the Centers for Medicare and Medicaid Services (CMS) has assigned a product-specific billing code, or J-code, for KRYSTEXXA® (pegloticase), which is used for the treatment of chronic gout in adult patients refractory to conventional therapy.  The new J-code, J2507, becomes effective on January 1, 2012.

"This is an important milestone for Savient, and we are very pleased that CMS has issued a J-code for KRYSTEXXA," said John H. Johnson, Chief Executive Officer and President of Savient Pharmaceuticals.  "While it may take three to six months from its effective date for the J-code to be loaded into the entire payer system, the J-code should enable more rapid reimbursement for providers.  The J-code should facilitate reimbursement for providers who treat patients suffering from the severe and debilitating disease of refractory chronic gout and who rely on Medicare and Medicaid."