Investment Firm Seeks To Buy AMAG | Chemical & Engineering News
Volume 89 Issue 32 | p. 20 | Concentrates
Issue Date: August 8, 2011

Investment Firm Seeks To Buy AMAG

Department: Business
Keywords: pharmaceuticals, mergers, anemia

MSMB Capital has proposed acquiring AMAG Pharmaceuticals for $18.00 per share, or $378 million. The New York City-based investment firm says it wants to stop a previously announced merger between AMAG and Allos Therapeutics (C&EN, July 25, page 17). In a letter to AMAG’s board, MSMB’s chief investment officer, Martin Shkreli, notes that AMAG’s stock has dropped since announcement of the deal, which offers its shareholders no premium. Other market watchers have commented on the disparity of the two firms. AMAG markets a semisynthetic coated iron oxide particle for anemia, whereas Allos sells a treatment for a form of lymphoma.

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