appointment of
commercial officer. Mr. Madison brings a wealth of hands-on commercial
experience and extensive leadership skills to AMAG. He joins AMAG from
commercial roles in their renal division, most recently as the
division’s vice president and general manager.
“Through his distinguished career at Genzyme, Greg has had the
opportunity to lead almost every commercial function relevant to
buy-and-bill products, which makes him uniquely qualified to lead the
commercial team at AMAG and drive the continued growth of Feraheme®,”
said
experience in the chronic kidney disease (CKD) market will help us
identify new ways to drive growth of Feraheme within our current
indication.”
Heiden continued, “Additionally, Greg has driven the strategy
development, planning and execution of several product launches – this
experience will be invaluable to AMAG as we prepare for the potential
regulatory approval of Feraheme for the treatment of iron deficiency
anemia in a broader patient population. We will also benefit from Greg’s
broad experience in our business development efforts, as he will play a
key role in the evaluation and the commercialization of new acquired or
in-licensed assets in the future. We are really pleased to welcome Greg
to AMAG.”
Since joining Genzyme in 2000, Mr. Madison developed extensive
commercial and general management expertise as he progressed into roles
of increasing responsibilities and leadership, culminating in his most
recent role as vice president and general manager for the renal
division. In this role, Mr. Madison led a global organization with three
marketed products in 76 countries and drove top-line growth, with
combined revenues exceeding
in the division includes serving as vice president and general manager
of the U.S. business; vice president of U.S. sales; and vice president
of U.S. marketing where he led all pre-launch preparation for Renvela,
now the leading phosphate binder in the U.S. market. During his tenure
with Genzyme, Mr. Madison also had roles in sales management, training,
and managed markets and reimbursement. Prior to joining Genzyme, Mr.
Madison spent five years at
management roles, and began his career in the pharmaceutical industry in
sales with Wyeth-Ayerst.
Mr. Madison commented, “I am pleased to join AMAG during this very
important time in the company’s development. There are a multitude of
patients who suffer from the devastating effects of iron deficiency
anemia and are in need of effective new treatment options. Over the next
12 months, we will look to significantly increase Feraheme adoption in
the CKD market, while we plan and prepare for the potential launch for
the broader IDA population, pending regulatory approval. I look forward
to working with our team to bring forward innovative solutions for
patients and caregivers alike.”
Mr. Madison is an active Board member of, and a member of the Operations
Committee with,
that is focused on legislative, regulatory and public policy issues
related to patients with CKD. He holds a Bachelor of Business
Administration in Finance from the
Inducement Equity Awards
In connection with Mr. Madison’s entry into his employment agreement,
effective on the first day of Mr. Madison’s employment, Mr. Madison will
be granted (i) an option to purchase 75,000 shares of common stock and
(ii) 35,000 restricted stock units. The option will have an exercise
price equal to the closing price of AMAG’s common stock on the grant
date and will be exercisable in four equal annual installments beginning
on the first anniversary of the grant date. The option will have a
ten-year term and be subject to the terms and conditions of the stock
option agreement pursuant to which the option will be granted. The
restricted stock units will vest in four equal annual installments
beginning on the first anniversary of the grant date and will be subject
to the restricted stock unit agreement pursuant to which the restricted
stock units will be granted.
These equity awards will be granted without stockholder approval as
inducements material to Mr. Madison’s entering into employment with AMAG
in accordance with NASDAQ Listing Rule 5635(c)(4).
About AMAG
manufactures and markets Feraheme® (ferumoxytol) Injection for
Intravenous (IV) use in
growth of its lead product, AMAG intends to expand its portfolio with
additional commercial-stage specialty pharmaceuticals. The company is
seeking complementary products that leverage the company’s commercial
footprint and focus on hematology and oncology centers and hospital
infusion centers. For additional company information, please visit www.amagpharma.com.
About Feraheme® (ferumoxytol)/Rienso
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
was commercially launched by AMAG in the U.S. shortly thereafter.
Ferumoxytol received marketing approval in
where it is marketed by Takeda as Feraheme®, and in the
in
Takeda as Rienso®. For additional product information, please visit www.feraheme.com.
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 market for Feraheme; the approval of the supplemental new
drug application Feraheme for a broader patient population; Mr.
Madison’s contributions to AMAG and the intended expansion and focus of
AMAG’s product portfolio; the company’s intent to drive organic growth
of Feraheme; and the company’s plans to seek complementary commercial
products to add to its portfolio 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
and Takeda’s ability to successfully compete in the intravenous iron
replacement market both in the US and outside the US, including the EU,
(2) uncertainties regarding our ability to successfully and timely
complete our clinical development programs and obtain regulatory
approval for Feraheme/Rienso in the broader IDA indication
both in the US and outside of the US, including the EU, (3) the
possibility that significant safety or drug interaction problems could
arise with respect to Feraheme/Rienso, (4) uncertainties
regarding the manufacture of Feraheme/Rienso, (5) uncertainties
relating to our patents and proprietary rights both in the US and
outside the US, (6) the risk of an Abbreviated New Drug Application
(ANDA) filing following the FDA’s recently published draft
bioequivalence recommendation for ferumoxytol, and (7) other risks
identified in our Securities and Exchange Commission (SEC) filings,
including our Quarterly Report on Form 10-Q for the quarter
ended September 30, 2012 and subsequent filings with the
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.
Pharmaceuticals, Inc.
Rienso is a registered trademark of
Limited
Source:
AMAG Pharmaceuticals, Inc.
Amy Sullivan, 617-498-3303
