AMAG Pharmaceuticals Announces Financial Results For The Third Quarter And Nine Months Ended September 30, 2012

A live webcast of the conference call and accompanying slides will be accessible through the Investors section of the company’s website at www.amagpharma.com beginning today at 8:00 a.m. ET. Following the conference call, the webcast replay will be available today at approximately 10:00 a.m. ET and will be archived on the AMAG Pharmaceuticals, Inc. website until midnight November 30, 2012.

About Feraheme

In the United States, Feraheme® (ferumoxytol) Injection for Intravenous (IV) use is indicated for the treatment of iron deficiency anemia in adult chronic kidney disease (CKD) patients. Feraheme received marketing approval from the U.S. Food and Drug Administration on June 30, 2009 and was commercially launched by AMAG in the U.S. shortly thereafter. Ferumoxytol received marketing approval in Canada in December 2011, in the European Union in June 2012, and in Switzerland in August 2012. For additional product information, please visit www.feraheme.com.

About AMAG Pharmaceuticals, Inc.

AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG), a specialty pharmaceutical company focused on the development and commercialization of an intravenous iron to treat iron deficiency anemia (IDA). For additional company information, please visit www.amagpharma.com.

AMAG Pharmaceuticals and Feraheme are registered trademarks of AMAG Pharmaceuticals, Inc.

Rienso is a registered trademark of Takeda Pharmaceutical Company, Ltd.

¹IMS Health Data (in grams) through the period ending September 30, 2012.

AMAG Pharmaceuticals, Inc.
Condensed Consolidated Statements of Operations
(unaudited, amounts in thousands, except for per share data)
			Three Months Ended Sept 30,											Nine Months Ended Sept 30,
				2012				2011							2012					2011
Revenues:
Product sales, net			$	16,176				$ 15,802						$	44,304				$	39,905
License fee, collaboration and royalty revenues				1,566				1,753							19,930					6,437
Total revenues				17,742				17,555							64,234					46,342
Operating costs and expenses (1):
Cost of product sales				4,323				2,669							10,193					7,792
Research and development expenses				5,260				14,894							25,393					45,155
Selling, general and administrative expenses				12,160				17,230							40,442					53,690
Restructuring expense				562				-							1,620					-
Total operating costs and expenses				22,305				34,793							77,648					106,637
Operating income (loss)				(4,563	)			(17,238			)				(13,414	)				(60,295	)
Interest and dividend income, net				295				378							1,026					1,390
Other income (expense)				2				14							(1,469	)				(194	)
Net income (loss) before income taxes				(4,266	)			(16,846			)				(13,857	)				(59,099	)
Income tax benefit				299				215							793					611
Net income (loss)			$	(3,967	)			$ (16,631			)			$	(13,064	)			$	(58,488	)
Net income (loss) per share - basic and diluted			$	(0.19	)			$ (0.78			)			$	(0.61	)			$	(2.76	)
Weighted average shares outstanding used to compute net loss per share:
Basic and diluted				21,403				21,194							21,374					21,169
(1) Stock-based compensation included in operating costs and expenses:
Cost of product sales			$	52				$ 131						$	198				$	483
Research and development				473				84							1,420					1,365
Selling, general and administrative				1,525				1,487							3,694					6,950

AMAG Pharmaceuticals, Inc.
Condensed Consolidated Balance Sheets
(unaudited, amounts in thousands)
			September 30, 2012				December 31, 2011
Cash and cash equivalents			$	42,900			$	63,474
Short-term investments				167,943				148,703
Accounts receivable				7,363				5,932
Inventories				12,227				15,206
Receivable from collaboration				777				428
Assets held for sale				2,300				-
Other current assets				7,627				6,288
Total current assets				241,137				240,031
Net property, plant & equipment				3,411				9,206
Long-term investments				-				17,527
Other assets				460				460
Total assets			$	245,008			$	267,224
Accounts payable			$	3,620			$	3,732
Accrued expenses and other short-term liabilities				16,674				28,916
Deferred revenues				7,250				6,346
Total current liabilities				27,544				38,994
Deferred revenues				40,624				45,196
Other long-term liabilities				2,136				2,438
Total long-term liabilities				42,760				47,634
Total stockholders’ equity				174,704				180,596
Total liabilities and stockholders’ equity			$	245,008			$	267,224

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein which do not describe historical facts, including but not limited to, our belief that “we can do better,” our expectation to submit a supplemental new drug application to the U.S. Food and Drug Administration by the end of 2012, our progress in our search to acquire additional products and our expected financial results for the 2012 fiscal year, are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements.

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