This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AMAG Pharmaceuticals Provides Business Update Announces Preliminary 2012 Financial Results And 2013 Financial Guidance

AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) today announced a business update, including preliminary fourth quarter 2012 financial results and its outlook for 2013. The company will present further details at the 31 st Annual J.P. Morgan Healthcare Conference in San Francisco on Wednesday, January 9, 2013 at 8:30 a.m. Pacific time.

“AMAG turned a corner in 2012, achieving all of our commercial and development milestones for the year, which together have placed Feraheme on a path to realize its full potential, both in the U.S. and abroad,” stated William Heiden, president and chief executive officer of AMAG. “Additionally, we believe, that the more efficient cost structure that we established in 2012, coupled with continued top-line growth, will help drive our company to profitability.”

Business Highlights and Estimated 2012 Financial Results (unaudited)
  • AMAG expects to report 2012 full year financial results in line with previous guidance, which was positively updated over the course of the year. The company ended 2012 with approximately $227 million in cash and investments.
    • For the fourth quarter of 2012, AMAG expects total revenues of between $21.1 million and $21.5 million, including between $14.4 million and $14.8 million of net U.S. Feraheme product revenues. The approximate 14% growth in U.S. net product revenues, compared to the fourth quarter of 2011, was driven by increased volume and an improving net effective price per gram for Feraheme.
    • Total operating expenses, excluding cost of goods sold, for the fourth quarter of 2012 are expected to be between $21.0 million and $22.5 million, approximately 31% lower than the fourth quarter of 2011.
  • AMAG sold approximately 110,000 grams of Feraheme in the U.S. in 2012, representing record demand and more than 17% volume growth over 2011.
  • During the fourth quarter of 2012, AMAG’s partner, Takeda Pharmaceutical Company Limited, launched ferumoxytol in Canada, under the brand name Feraheme, and in several European countries as Rienso® (ferumoxytol). During 2012, AMAG received $33 million in milestone payments related to ex-U.S. approvals and launches, $18 million of which it received in the fourth quarter. Additionally, during the fourth quarter of 2012, AMAG realized its first revenues from royalties and product sales in these regions.
  • AMAG submitted a supplemental new drug application (sNDA) for Feraheme to the U.S. Food and Drug Administration (FDA) in December 2012. The company is seeking to expand the label for Feraheme to include all patients with iron deficiency anemia, regardless of the underlying cause, who have failed or could not tolerate oral iron. The company believes that regulatory approval from the FDA for this broader patient population would double the market opportunity in the U.S. for Feraheme.

2013 Financial Outlook

“As we look to 2013, we plan to deliver accelerating revenue growth, driven by both greater volume and increasing net revenue realized per gram of Feraheme sold,” Heiden stated. “While we will continue to operate as efficiently as possible, we do plan to make strategic investments over the course of 2013 to maximize the commercial potential of Feraheme and to ensure that we are positioned for success in the broader IV iron market, in anticipation of potential regulatory approval for the expanded IDA indication late in the year.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community


Chart of I:DJI
DOW 17,598.20 -91.66 -0.52%
S&P 500 2,098.04 -5.80 -0.28%
NASDAQ 5,115.3820 -12.8990 -0.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs