~Evaluation of Strategic Alternatives Ongoing~
appointment of
directors, effective immediately. Mr. De Silva is currently president of
of its
from a 27-year career at
of commercial and operational roles, serving most recently as senior
vice president, corporate strategy and business development. The
appointment of these two independent directors brings the AMAG Board to
seven members.
“As we continue to evaluate strategic alternatives for AMAG, the
perspective that Rajiv and Gino bring to the table will be invaluable to
AMAG and our board,” said
directors. “Rajiv’s operations experience at Valeant and
coupled with Gino’s long history as a successful commercial leader and
experience defining and executing corporate strategy at Lilly will
support the key decisions facing the board in the coming months. Their
expertise will be valuable assets to the board as we explore a sale of
the company and simultaneously establish a solid foundation from which
to drive growth and profitability if AMAG remains an independent
company. ”
Mr. De Silva, age 45, joined Valeant in
Valeant’s president in
pharmaceutical operations, including sales and marketing, research and
development, manufacturing and business development. From 2003 to 2009,
Mr. De Silva held various leadership positions of increasing
responsibility at
Vaccines USA
consulting firm, where he focused his consulting practice on the
pharmaceutical industry. Mr. De Silva holds a Bachelor of Science in
Engineering from
University
School
Mr. Santini, age 55, had a distinguished career with
spanned nearly three decades. During his tenure at Lilly, Mr. Santini
held various leadership positions of increasing responsibility,
including manager of various international regions, president of the
women’s health franchise and president of U.S. operations. Mr. Santini
capped his career at Lilly as a member of the company’s executive
committee and as the senior vice president of corporate strategy and
business development. Mr. Santini, fluent in four languages, holds an
undergraduate degree in mechanical engineering from the
Bologna
Rochester
Mr. Narachi continued, “While we continue the strategic review process,
we are progressing our effort to identify and interview qualified
candidates for the position of chief executive officer of AMAG.”
About
manufactures and markets Feraheme® in
company information, please visit www.amagpharma.com.
About Feraheme
In
(IV) use is indicated for the treatment of iron deficiency anemia in
adult chronic kidney disease (CKD) patients. Feraheme received
marketing approval from the
30, 2009
thereafter. For additional product information, please visit www.feraheme.com.
Pharmaceuticals, Inc.
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 our
evaluation of strategic alternatives, including a potential sale of the
company; our efforts to establish a solid foundation from which to drive
growth and profitability if we remain independent; and Mr. De Silva’s
and Mr. Santini’s potential contributions to our Board of Directors; 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: (1) uncertainties regarding our
ability to successfully compete in the intravenous iron replacement
market both in the U.S. and outside the U.S., (2) uncertainties
regarding our ability to successfully and timely complete our clinical
development programs and obtain regulatory approval for Feraheme in new
indications and in territories outside of the U.S., including the
problems could arise with respect to Feraheme, (4) uncertainties
regarding our ability to manufacture Feraheme, (5) uncertainties
relating to our patents and proprietary rights, (6) uncertainties
regarding the outcome of our evaluation of strategic alternatives,
including the risk that the process will not result in a transaction,
and (7) other risks identified in our
filings, including our Annual Report on Form 10-K for the year ended
and nine months ended
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.
Source:
AMAG Pharmaceuticals, Inc.
Amy Sullivan, 617-498-3303
