Dr. Greg Bales, associate professor of urology at the University of Chicago, said severed penises are uncommon but surgery usually works. "As long as the penis is placed on ice and reattached within a few hours, the success is usually pretty good," Bales said.
Although if it was MY penis it would have been an effective weapon and taken out an entire SWAT team, unlike this guy who was easily subdued with a tazer gun:
Chicago Sun Times: Man severs own penis, throws it at officers
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