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Amag Pharma shares falls after aborting M&A talks

Posted on 15 May 2012

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Shares of Amag Pharmaceuticals Inc. sank Thursday, a day after the anemia drug maker said it is no longer considering any M&A deal and has no plans of selling itself.

THE SPARK: Amag said it has decided to focus on improving sales of its drug Feraheme. The company said in November it had hired Jefferies & Co. to evaluate options for the company, including a possible M&A sale.

On Wednesday, Amag said it named William Heiden as its new president and CEO and would shift its "focus from an active sale process" to business development and he growth of Feraheme. The company said Frank Thomas, who became interim CEO in November after Brian Pereira resigned, will go back to being chief operating officer.

Read the full article at Bloomberg Businessweek (link no longer available)



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