ARTICLE | Company News

AMAG Pharmaceuticals hematology news

November 1, 2010 7:00 AM UTC

AMAG will reduce headcount by 68 (24%) to save cash after reporting additional details on previously announced safety concerns associated with its anemia drug Feraheme ferumoxytol injection. AMAG said as of Oct. 4, 146 cases of serious adverse events had been reported, including "life-threatening and fatal" cases of hypersensitivity and cardiac events. The biotech is in discussions with FDA about label changes for the IV iron replacement therapy, which the company said may include a boxed warning (see BioCentury, Sept. 27).

The restructuring is expected to save about $12 million annually. At Sept. 30, AMAG had $308 million in cash and a nine-month operating loss of $62.8 million. ...