ARTICLE | Finance

Boffo follow-ons are back

January 25, 2010 8:00 AM UTC

AMAG Pharmaceuticals Inc. and InterMune Inc., took advantage of bounces following presentations earlier this month at the J.P. Morgan Healthcare Conference to sell large, bumped up follow-ons last week. They are the largest such deals since early December, when Human Genome Sciences Inc. (NASDAQ:HGSI), Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) and Dendreon Corp. (NASDAQ:DNDN) each raised $400-$500 million via follow-ons.

AMAG (NASDAQ:AMAG) announced its deal after market close on Tuesday and priced before the markets opened on Thursday. The company raised $173.7 million through the sale of 3.6 million shares at $48.25, only a 3% discount to Tuesday's close of $49.99. It had originally proposed to sell 3 million shares...