AMAG Pharmaceuticals, Silverstrand Investments hematology news
The U.S. Supreme Court will not review an appeal of a case involving anemia drug Feraheme ferumoxytol. In a February ruling on Silverstrand Investments, et al. v. AMAG Pharmaceuticals, et al. the First Circuit Court of Appeals affirmed in part a decision by the U.S. District Court for the District of Massachusetts siding with investor Silverstrand that AMAG failed to disclose serious adverse events associated with Feraheme in a January 2010 offering prospectus. The 23 adverse events occurred in the six months between FDA approval of Feraheme in July 2009 to treat iron deficiency anemia in patients with chronic kidney disease (CKD) and AMAG's $173.7 million follow-on in January 2010, in which Silverstrand participated. The First Circuit denied a petition for rehearing the case in March. AMAG filed its petition for a writ of certiorari to the Supreme Court in June. AMAG said it does not comment on pending litigation (see BioCentury, July 6, 2009 & Jan. 25, 2010). ...