AMAG Pharmaceuticals Announces Proposed Offering of 3,000,000 Shares of Common Stock

LEXINGTON, Mass., Jan 19, 2010 (BUSINESS WIRE) — AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) today announced that it is
offering to sell 3,000,000 shares of its common stock in an underwritten
public offering. It is currently anticipated that the underwriters will
be granted an over-allotment option for an additional 450,000 shares.

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 and Canaccord Adams, Inc. 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 preliminary 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 proposed offerings 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 statements.

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