AMAG Pharmaceuticals Appoints William Heiden As President And Chief Executive Officer

AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) today announced the appointment of William K. Heiden as president and chief executive officer, effective May 14, 2012. Mr. Heiden, age 52, has also been appointed to the company’s board of directors. AMAG also announced that its largest shareholder, Adage Capital, has requested and the company has agreed to allow Adage to increase its equity ownership in AMAG up to 25%, subject to certain conditions.

“Over the past several months, AMAG’s board of directors has worked with advisors to evaluate strategic alternatives, while searching for a permanent CEO,” said Michael Narachi, chairman of AMAG’s board of directors. “We have determined that now is the time to strengthen our leadership team with the appointment of a permanent CEO and are pleased to have attracted a high-caliber leader. At this critical juncture in the evolution of our company, it is imperative that we shift our focus from an active sale process to the continued growth of Feraheme and the pursuit of business development opportunities. As always, we will continually evaluate all opportunities to create value for our stockholders.”

Mr. Narachi continued, “We are pleased to welcome Bill to AMAG to develop and execute a strategy of building a profitable, multi-product, specialty pharmaceutical company. He brings significant commercial expertise at both large pharmaceutical and emerging biotechnology companies, as well as strong deal-making experience, which will be invaluable to our company. We are confident that under Bill’s leadership, AMAG will successfully embark upon a staged approach to growth, through the continued expansion of the Feraheme franchise in the near term, and the addition of new products to our company’s portfolio over the longer term.”

Mr. Heiden stated, “I am pleased to be taking the helm of a company with such great potential. Feraheme, our specialized field sales force focused on hematology/oncology and hospitals, and our cash position provide a significant foundation from which we can build a profitable, specialty pharmaceutical company. I plan to get intimately involved in the business in the coming months, and will evaluate the core strengths and assets of our company and develop a strategic plan to fully leverage these for our stockholders.”

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