AMAG Pharmaceuticals Inc.
TypePublic (to 2020)
IndustryPharmaceutical Industry
PredecessorAdvanced Magnetics Inc.
FoundedNovember 9, 1981 (1981-11-09)
FateAcquired by Covis Group S.à r.l.
HeadquartersUnited States
ProductsPharmaceutics
Revenue$418 million (2015)
Number of employees
552 (2015)
Websitewww.amagpharma.com
Footnotes / references
Founded[1]

AMAG Pharmaceuticals, Inc. is an American pharmaceutical company developing products that treat iron deficiency anemia (IDA) in adult patients. The company was a publicly traded company listed on NASDAQ under the symbol "AMAG" until November 2020 when it was acquired by Covis Pharma.[2]

In 2016, the company became a member of the Pharmaceutical Research and Manufacturers of America (PhRMA).[3]

Operations

AMAG Pharmaceuticals Inc. operates in the researching, marketing as well as distribution of its drugs. The areas that the company markets its products include the United States, Canada and the European Union.[4]

AMAG's main product, Ferumoxytol was estimated by the company to generate revenue of $71.5 million in 2013.[5]

In August 2013, the company received a new U.S. patent for Ferumoxytol, expiring in 2020.[6]

In June 2015, the company acquired Cord Blood Registry for $700 million.[7]

In 2014, AMAG acquired Lumara Health, formerly KV Pharmaceutical Company.[8]

In 2015, the company's revenue reached $418 million. AMAG had 552 employees.[9]

In December 2018, AMAG announced it would acquire Perosphere Pharmaceuticals Inc.[10]

In October 2020, Covis Group agreed to acquire AMAG for $498 million.[11]

Drug approvals and distribution

The company's research and tests focus on iron deficiency anemia and related intravenous drugs.[1]

In June 2009, the company's main product Ferumoxytol, an IV iron medication used on adult patients with chronic kidney disease, was approved by US Food and Drug Administration.

In December 2011, Health Canada approved Ferumoxytol, under the brand name Feraheme, for use in treating both dialysis and non-dialysis dependent chronic kidney disease patients, as well as for treatment of adult patients with iron deficiency anemia.[12]

From 2010 to 2014, AMAG had a distribution agreement with Takeda which granted them exclusivity to the Canadian and European Union markets, where the drug is sold under the brand names Feraheme and Rienso, respectively.[13]

References

  1. 1 2 "AMAG Pharmaceuticals Inc (AMAG.O) company profile". Reuters. Archived from the original on June 22, 2009. Retrieved 29 December 2014.
  2. ↑ "Covis Group Completes Acquisition of AMAG Pharmaceuticals" (Press release). Covis Pharma. Cision. November 16, 2020.
  3. ↑ "Teva wins controversial PhRMA bid despite protests from branded rivals". 18 July 2016.
  4. ↑ "AMAG Profile". Yahoo! Finance. Retrieved 29 December 2014.
  5. ↑ "Amag Pharma shares tumble on FDA ruling". Yahoo! Finance. Associated Press. 22 January 2014.
  6. ↑ "AMAG Pharmaceuticals Announces Issuance of New U.S. Patent for Ferumoxytol" (Press release). AMAG Pharmaceuticals. 7 August 2013. Archived from the original on 11 February 2014.
  7. ↑ Leite, Julia (29 June 2015). "AMAG Pharmaceuticals to Buy Stem Cell Company for $700 Million". Bloomberg.
  8. ↑ "Press Release, may 2015". Archived from the original on 2016-03-18. Retrieved 2016-06-07.
  9. ↑ "The 9 fastest-growing biotech firms in the Bay State". Boston Business Journal. March 22, 2016.
  10. ↑ "AMAG Pharmaceuticals Strikes Deal to Acquire Perosphere and Its Anticoagulant".
  11. ↑ "Apollo's Covis Nears Deal to Buy Amag Pharmaceutical". Bloomberg.com. 2020-09-30. Retrieved 2021-04-13.
  12. ↑ "Health Canada Approves Feraheme® (ferumoxytol) to Treat Iron Deficiency Anemia in Adults with Chronic Kidney Disease" (Press release). AMAG Pharmaceuticals. December 2011 – via FierceBiotech.
  13. ↑ "AMAG Pharmaceuticals and Takeda Announce Mutual Termination of Agreement to License, Develop and Commercialize Ferumoxytol in Ex-U.S. Territories, Including Europe" (Press release). AMAG Pharmaceuticals. 29 December 2014 – via Seeking Alpha.
  • Official website
    • Historical business data for AMAG Pharmaceuticals:
    • SEC filings
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