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Business
Investment Firm Seeks To Buy AMAG
by Michael McCoy
August 8, 2011
| A version of this story appeared in
Volume 89, Issue 32
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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