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Prepared and filed by St Ives Financial
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<p align="center"><font size="2" face="serif">SECURITIES AND EXCHANGE COMMISSION<br>
WASHINGTON, D.C. 20549</font></p>
<p align="center"><font size="2" face="serif">____________________</font></p>
<p align="center"><font size="2" face="serif">FORM 8-K</font></p>
<p align="center"><font size="2" face="serif">CURRENT REPORT<br>PURSUANT TO SECTION 13 OR 15(d) OF<br>
THE SECURITIES EXCHANGE ACT OF 1934</font></p>
<p align="center"><font size="2" face="serif">Date of Report (Date of earliest event reported):  January 6, 2006</font></p>
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<td align="center"><font size="2" face="serif">Savient Pharmaceuticals, Inc.</font></td>
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  <td align="center"><font size="2" face="serif">(Exact name of registrant as
    specified in charter)</font></td>
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<td width="33%" align="center"><font size="2" face="serif">Delaware</font></td>
<td width="34%" align="center"><font size="2" face="serif">0-15313                </font></td>
<td width="33%" align="center"><font size="2" face="serif">13-3033811</font></td>
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<td width="33%" align="center"><font size="2" face="serif">(State or other juris-<br>
  diction of incorporation</font></td>
<td width="34%" align="center"><font size="2" face="serif">(Commission<br>File Number)</font></td>
<td width="33%" align="center"><font size="2" face="serif">(IRS Employer<br>Identification No.)</font></td>
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<td align="center"><font size="2" face="serif">One Tower Center, 14th Floor</font><br><font size="2" face="serif">East Brunswick, New Jersey 08816</font></td>
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<p align="center"><font size="2" face="serif">Registrant&#146;s telephone number, including area code:  (732) 418-9300</font></p>
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<td align="center"><font size="2" face="serif">Not applicable</font></td>
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<td align="center"><font size="2" face="serif">(Former name or former address, if changed since last report)</font></td>
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<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the obligation of the registrant under any of the following provisions:</font></p>
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<td align="left"><font size="2" face="serif">Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td>
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  <td>&nbsp;</td>
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<td align="left"><font size="2" face="serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td>
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<td align="left"><font size="2" face="serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2{b))</font></td>
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  <td>&nbsp;</td>
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<td width="3%"><font size="2" face="serif"><img src="emptybox.gif"></font></td>
<td align="left"><font size="2" face="serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td>
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<p align="left"><font size="2" face="serif"><b>Item 4.02.</b> <b>Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As previously announced, Savient Pharmaceuticals, Inc. (the &#147;Company&#148;) has received comments from the staff of the Division of Corporation Finance of the Securities and Exchange Commission (the &#147;SEC Staff&#148;) related to the Company&#146;s accounting for negative goodwill in connection with the Company&#146;s acquisition of Myelos Corporation in 2001.  Following further evaluation of this issue, the Company has determined to restate its financial statements as of and for the year ended December 31, 2001 to reflect the elimination of the negative goodwill related to the acquisition as of the end of 2001.</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
    a result of this determination, on January 6, 2006, the Company concluded
    that investors should not rely upon the financial statements as of and for
    the year ended December 31, 2001 contained in its Annual Report on Form 10-K
    for the year ended December 31, 2001, as amended. The Company's Audit Committee
    and management have discussed these matters with the Company's independent
    accountant.</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
    previously announced, the Company is in the process of preparing restated
    financial statements for the fiscal years ended December 31, 2004, 2003 and
    2002, and the quarter ended March 31, 2005, as well as its Quarterly Reports
    on Form 10-Q for the three month periods ended June 30, 2005 and September
30, 2005.</font></p>
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<p align="center"><font size="2" face="serif">SIGNATURE</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</font></p>
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<td width="40%" align="left"><font size="2" face="serif">Date:  January 11, 2006</font></td>
<td colspan="2" align="left"><font size="2" face="serif">SAVIENT PHARMACEUTICALS, INC.</font></td>
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  <td align="left"><font size="2" face="serif">By:</font></td>
  <td align="left"><font size="2" face="serif">/s/ Gina Gutzeit</font></td>
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<td width="40%" align="left"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"><font size="2" face="serif">Gina Gutzeit<br>
Interim Chief Financial Officer</font></td>
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Prepared and filed by St Ives Financial
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):  January 6, 2006
Savient Pharmaceuticals, Inc.
(Exact name of registrant as
    specified in charter)
Delaware
0-15313
13-3033811
(State or other juris-
diction of incorporation
(Commission
File Number)
(IRS Employer
Identification No.)
One Tower Center, 14th Floor
East Brunswick, New Jersey 08816
(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 obligation of the registrant under any of the following provisions:
Written communication 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 4.02.
Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
(a)      As previously announced, Savient Pharmaceuticals, Inc. (the "Company") has received comments from the staff of the Division of Corporation Finance of the Securities and Exchange Commission (the "SEC Staff") related to the Company's accounting for negative goodwill in connection with the Company's acquisition of Myelos Corporation in 2001.  Following further evaluation of this issue, the Company has determined to restate its financial statements as of and for the year ended December 31, 2001 to reflect the elimination of the negative goodwill related to the acquisition as of the end of 2001.
As
    a result of this determination, on January 6, 2006, the Company concluded
    that investors should not rely upon the financial statements as of and for
    the year ended December 31, 2001 contained in its Annual Report on Form 10-K
    for the year ended December 31, 2001, as amended. The Company's Audit Committee
    and management have discussed these matters with the Company's independent
    accountant.
As
    previously announced, the Company is in the process of preparing restated
    financial statements for the fiscal years ended December 31, 2004, 2003 and
    2002, and the quarter ended March 31, 2005, as well as its Quarterly Reports
    on Form 10-Q for the three month periods ended June 30, 2005 and September
30, 2005.
SIGNATURE
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.
Date:  January 11, 2006
SAVIENT PHARMACEUTICALS, INC.
By:
/s/ Gina Gutzeit
Gina Gutzeit
Interim Chief Financial Officer