FDA Approves AMAG Anemia Drug

AMAG Pharmaceuticals(AMAG Quote) said Tuesday that the Food and Drug Administration has given it the green light to market its iron replacement therapy.

On Monday, AMAG said the FDA had delayed its decision on Feraheme, an injectable drug intended to tread anemia in adults with chronic kidney disease, for administrative reasons. On a conference call Tuesday, the company said it would be ready to launch the drug within weeks of approval. Later in the day, AMAG reiterated its timeline, saying Feraheme would be available in the U.S. in the second half of July.

AMAG shares closed Tuesday trading down 0.2% to $54.67.