Issue Date: November 14, 2011
AMAG Will Cut Jobs, Pursue Its Options
AMAG Pharmaceuticals will cut its workforce of about 225 employees by approximately 25% in an effort to reduce costs. CEO Brian J. G. Pereira is departing, and the company will consider all strategic options to enhance shareholder value and increase sales of its main product, the anemia treatment Feraheme. The moves follow the end of an attempt by AMAG to merge with Allos Therapeutics. Shareholders voted down the move at an Oct. 21 meeting.
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