Amag Pharmaceuticals Inc entered the women's healthcare business by acquiring privately held Lumara Health Inc for $675 million in its biggest deal ever, sending its shares up as much as 23 percent to a four-year high.The cash and stock deal gives Amag access to Lumara's Makena, the only approved product designed to reduce the risk of preterm birth, and Amag CEO William Heiden said his company was on the hunt for more such deals."We'll target to acquire or license additional assets within the women's health segment," Heiden said in a conference call.The deal will exclude a portfolio of women's health products, which Lumara, formerly known as K-V Pharmaceuticals Inc, said it would sell to Perrigo Co Plc for $82 million in cash.
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 24.7% or $5.725/share to $28.90. 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 3207819.
Shares of PRGO fell by 1.04% or $-1.57/share to $149.15. In the past year, the shares have traded as low as $122.12 and as high as $168.39. On average, 1163440 shares of PRGO exchange hands on a given day and today's volume is recorded at 415768.
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