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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>
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<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): March 22, 2006</font></p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign="bottom">
    <td colspan="3" align="center"><font size="2" face="serif">Savient Pharmaceuticals, Inc.</font><font size="2">&nbsp;</font></td>
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    <td colspan="3" align="center"><hr size="1" noshade></td>
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  <tr valign="bottom">
    <td colspan="3" align="center"><font size="2">&nbsp;</font><font size="2" face="serif">(Exact name of registrant as specified in
    charter)</font></td>
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  <tr valign="bottom">
    <td align="center"><font size="2">&nbsp;</font></td>
    <td width="35%" align="center"><font size="2">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
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    <td align="center"><font size="2" face="serif">Delaware</font></td>
    <td align="center"><font size="2" face="serif">0-15313</font></td>
    <td align="center"><font size="2" face="serif">13-3033811</font></td>
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    <td colspan="3" align="center"><hr size="1" noshade>
    </td>
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    <td align="center"><font size="2" face="serif">(State or other jurisdiction
        of incorporation)</font></td>
    <td align="center"><font size="2" face="serif">(Commission File Number)</font></td>
    <td align="center"><font size="2" face="serif">(IRS Employer Identification No.)</font></td>
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    <td align="center"><font size="2">&nbsp;</font></td>
    <td align="center"><font size="2">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
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    <td align="center"><font size="2">&nbsp;</font></td>
    <td align="center"><font size="2">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
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    <td colspan="3" align="center"><font size="2">&nbsp;</font><font size="2" face="serif">One Tower Center, 14th Floor</font></td>
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    <td colspan="3" align="center"><font size="2">&nbsp;</font><font size="2" face="serif">East Brunswick, New Jersey 08816</font></td>
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    <td colspan="3" align="center"><hr size="1" noshade></td>
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  <tr valign="bottom">
    <td colspan="3" align="center"><font size="2" face="serif">(Address of principal executive offices)
    (Zip Code)</font></td>
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  <tr valign="bottom">
    <td align="center"><font size="2">&nbsp;</font></td>
    <td align="center"><font size="2">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td colspan="3" align="center"><font size="2">&nbsp;</font><font size="2" face="serif">Registrant&#8217;s telephone number, including
    area code: (732) 418-9300</font></td>
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    <td align="center"><font size="2">&nbsp;</font></td>
    <td align="center"><font size="2">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
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  <tr valign="bottom">
    <td colspan="3" align="center"><font size="2">&nbsp;</font><font size="2" face="serif">Not applicable</font></td>
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    <td colspan="3" align="center"><hr size="1" noshade>
    </td>
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  <tr valign="bottom">
    <td colspan="3" align="center"><font size="2">&nbsp;</font><font size="2" face="serif">(Former name or former address, if changed
    since last report)</font></td>
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<div style="text-indent: 3%">
<p align="left"><font size="2" face="serif">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" width="3%"><font size="2" face="serif">&nbsp;<img src="emptybox.gif"></font></td>
<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 align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">&nbsp;<img src="emptybox.gif"></font></td>
<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">&nbsp;</td>
  <td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">&nbsp;<img src="emptybox.gif"></font></td>
<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 align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">&nbsp;<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 1.01.&nbsp;&nbsp;Entry into a Material Definitive Agreement</b></font></p>
<div style="text-indent: 3%">
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
    March 22, 2006, Savient Pharmaceuticals, Inc.&nbsp;(the &#8220;<u>Registrant</u>&#8221;)&nbsp;amended
    its Rights Agreement dated as of October 7, 1998 (the &#8220;<u>Rights Agreement</u>&#8221;),
    between the Registrant and American Stock Transfer &amp; Trust Company, as
    Rights Agent.&nbsp; The amendment eliminates the &#8220;slow hand&#8221; provisions,
    which&nbsp;have in the past been the subject of criticism by corporate governance
    authorities such as Institutional Shareholder Services.&nbsp; The &#8220;slow
    hand&#8221; provisions applied under circumstances where a majority of the
    Registrant&#8217;s board of directors is elected by stockholder action at
    an annual or special meeting of stockholders.&nbsp; Under
such circumstances, the &#8220;slow hand&#8221; provisions provided for a 180-day
waiting period before the board of directors could redeem or exchange the rights
issued under the Rights Agreement, or supplement or amend the Rights Agreement,
in each case in any manner reasonably likely to have the purpose or effect of
facilitating transactions of the type described in the Rights Agreement. All
other aspects of the Rights Agreement remain in full force.</font></p>
</div>
<p align="left"><font size="2" face="serif"><b>Item 9.01.&nbsp;&nbsp;Financial Statements and Exhibits</b></font></p>
<div style="text-indent: 3%">
<p align="left"><font size="2" face="serif">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</font></p>
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<div style="text-indent: 6%">
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;See Exhibit Index attached hereto.</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>  <table width="100%" cellspacing="0" cellpadding="0" border="0">
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  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left"><font size="2" face="serif">SAVIENT PHARMACEUTICALS,
    INC.</font></td>
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  <td align="left"><font size="2" face="serif">Date: March 28, 2006</font></td>
  <td align="left"><font size="2" face="serif">By:</font></td>
  <td align="left"><font size="2" face="serif">/s/ Philip K. Yachmetz</font></td>
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  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left"><hr align="left" width="45%" size="1" noshade>
    </td>
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<td align="left" width="35%">&nbsp;</td>
<td align="left" width="4%">&nbsp;</td>
<td align="left"><font size="2" face="serif">Philip K. Yachmetz<br>
  Executive Vice President &amp; <br>
  Chief Business Officer</font></td>
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<p align="center"><font size="2" face="serif">EXHIBIT INDEX</font></p>
<table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
  <td align="left"><font size="2" face="serif"><u>Exhibit No.</u></font></td>
  <td align="left"><font size="2" face="serif"><u>Description</u></font></td>
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  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
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<td align="left" width="20%"><font size="2" face="serif">10.1</font><br>
</td>
<td align="left"><font size="2" face="serif">Amendment to Rights Agreement,
    dated as of March 22, 2006 between the Registrant and American Stock Transfer &amp; Trust
    Company.&nbsp;</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): March 22, 2006
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.)
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 1.01.  Entry into a Material Definitive Agreement
On
    March 22, 2006, Savient Pharmaceuticals, Inc. (the "
Registrant
") amended
    its Rights Agreement dated as of October 7, 1998 (the "
Rights Agreement
"),
    between the Registrant and American Stock Transfer & Trust Company, as
    Rights Agent.  The amendment eliminates the "slow hand" provisions,
    which have in the past been the subject of criticism by corporate governance
    authorities such as Institutional Shareholder Services.  The "slow
    hand" provisions applied under circumstances where a majority of the
    Registrant's board of directors is elected by stockholder action at
    an annual or special meeting of stockholders.  Under
such circumstances, the "slow hand" provisions provided for a 180-day
waiting period before the board of directors could redeem or exchange the rights
issued under the Rights Agreement, or supplement or amend the Rights Agreement,
in each case in any manner reasonably likely to have the purpose or effect of
facilitating transactions of the type described in the Rights Agreement. All
other aspects of the Rights Agreement remain in full force.
Item 9.01.  Financial Statements and Exhibits
(d)     Exhibits
See Exhibit Index attached hereto.
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.
SAVIENT PHARMACEUTICALS,
    INC.
Date: March 28, 2006
By:
/s/ Philip K. Yachmetz
Philip K. Yachmetz
Executive Vice President &
Chief Business Officer
EXHIBIT INDEX
Exhibit No.
Description
10.1
Amendment to Rights Agreement,
    dated as of March 22, 2006 between the Registrant and American Stock Transfer & Trust
    Company.