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Monday, September 29, 2014

Amag Pharma buys women's health company Lumara for $675 mln, (NASDAQ: AMAG)

Amag Pharmaceuticals Inc said it would purchase privately held women's healthcare company Lumara Health Inc for $675 million in cash and stock, gaining access to the only approved product designed to reduce the risk of preterm birth. Amag said the deal, which has a cash component of $600 million, was expected to add earnings immediately.Lumara is eligible to receive an additional $350 million based on hitting a sales milestone.Lumara's drug, Makena, generated sales of more than $130 million in the 12 months ending Aug. 31, Amag said.

AMAG Pharmaceuticals, Inc. is a specialty pharmaceutical company that markets Feraheme (ferumoxytol) Injection for Intravenous (IV), used to treat iron deficiency anemia (IDA), in adult patients with chronic kidney disease (CKD), and MuGard Mucoadhesive Oral Wound Rinse for the management of oral mucositis. Shares of AMAG traded higher by 1.76% or $0.4/share to $23.18. In the past year, the shares have traded as low as $16.49 and as high as $28.42. On average, 301263 shares of AMAG exchange hands on a given day and today's volume is recorded at 135610.