AMAG Pharmaceuticals Announces Pricing of Public Offering of 3,600,000 Shares of Common Stock

LEXINGTON, Mass., Jan 20, 2010 (BUSINESS WIRE) — AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) today announced the pricing of
an underwritten public offering of 3,600,000 shares of its common stock
at a price to the public of $48.25 per share. The number of shares
reflects an increase of 600,000 shares over the number of shares
anticipated to be sold as previously announced. AMAG Pharmaceuticals
also granted the underwriters an over-allotment option for an additional
540,000 shares. All of the shares are being offered by AMAG
Pharmaceuticals. The offering is expected to close on or about January
26, 2010, subject to customary closing conditions.

Morgan Stanley & Co. Incorporated, J.P. Morgan Securities Inc. and
Goldman, Sachs & Co. are acting as the joint book-running managers for
the offering. Leerink Swann, LLC, Canaccord Adams, Inc. and Robert W.
Baird & Co. are acting as co-managers for the offering.

A registration statement relating to these securities has been filed
with the Securities and Exchange Commission and became effective upon
filing. The offering may be made only by means of a prospectus
supplement and the accompanying prospectus. Copies of the final
prospectus supplement and the accompanying prospectus may be obtained
from Morgan Stanley & Co. Incorporated at 180 Varick Street, New York,
New York 10014, Attention: Prospectus Department, or by telephone at
866-718-1649 or by email at;
from J.P. Morgan Securities Inc., Attention: Broadridge Financial
Solutions at 1155 Long Island Avenue, Edgewood, New York 11717, or by
telephone at 866-803-9204; or from Goldman, Sachs & Co. Attention:
Prospectus Department, 85 Broad Street, New York, New York 10004, or by
telephone at 1-866-471-2526, by fax at 212-902-9316 or by email at

This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of the securities, nor shall there
be any sale of these securities, in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.

About AMAG Pharmaceuticals, Inc.

AMAG Pharmaceuticals, Inc. is a biopharmaceutical company that utilizes
its proprietary technology for the development and commercialization of
a therapeutic iron compound to treat iron deficiency anemia and novel
imaging agents to aid in the diagnosis of cancer and cardiovascular
disease. On June 30, 2009, AMAG received approval from the U.S. Food and
Drug Administration to market Feraheme(R) (ferumoxytol) Injection for
intravenous use for the treatment of iron deficiency anemia in adult
chronic kidney disease patients.

Forward Looking Statements

This press release contains forward looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and
other federal securities laws. Any statements contained herein
which do not describe historical facts, including but not limited to,
statements regarding the completion and timing of the offering of our
securities are forward looking statements which involve risks and
uncertainties that could cause actual results to differ materially from
those discussed in such forward looking statements. Such risks and
uncertainties include: uncertainties regarding the market conditions and
investor interest in the offering and other risks identified in our
Securities and Exchange Commission filings, including our Quarterly
Report on Form 10-Q for the quarter ended September 30, 2009. We caution
you not to place undue reliance on any forward looking statements, which
speak only as of the date they are made. We disclaim any obligation to
publicly update or revise any such statements to reflect any change in
expectations or in events, conditions or circumstances on which any such
statements may be based, or that may affect the likelihood that actual
results will differ from those set forth in the forward-looking

Feraheme(R) is a registered trademark of AMAG Pharmaceuticals, Inc.

SOURCE: AMAG Pharmaceuticals, Inc.

AMAG Pharmaceuticals, Inc.
Amy Sullivan, 617-498-3303
Kristen Galfetti, 617-498-3362
Carol Miceli, 617-498-3361