SAN DIEGO and WALTHAM,
Mass., July 29, 2015 /PRNewswire/
-- Shareholder rights law firm Robbins Arroyo LLP is
investigating whether certain officers and directors of AMAG
Pharmaceuticals, Inc. (NASDAQGS: AMAG) breached their fiduciary
duties to shareholders. AMAG Pharmaceuticals operates as a
specialty pharmaceutical company that focuses on maternal health,
anemia, and cancer supportive care. The company markets
Makena, a hydroxyprogesterone caproate injection to reduce the risk
of preterm birth in women with a singleton pregnancy.
View this press release on the law firm's Shareholder Rights
Blog:
www.robbinsarroyo.com/shareholders-rights-blog/amag-pharmaceuticals-inc
AMAG Pharmaceuticals Products Under
Investigation
On May 28, 2015, AMAG
Pharmaceuticals announced that it received a complete response
letter from the U.S. Food and Drug Administration ("FDA") regarding
its manufacturing supplement seeking approval for a single-dose
vial of Makena, its preterm birth prevention drug. A complete
response letter informs companies that the FDA completed its
initial review of a drug application and cannot approve it in its
present form. In the letter, the FDA requested additional
information related to the manufacturing procedures for the
single-dose vial at a new third-party manufacturer.
Then, on July 27, 2015, AMAG
Pharmaceuticals stated in its Form 10-Q that on July 20, 2015, the Federal Trade Commission
("FTC") had notified the company that it is investigating Makena or
any hydroxyprogesterone caproate product. The FTC noted that
the investigation does not indicate that it has concluded that
Lumara Health (acquired by AMAG Pharmaceuticals) or its predecessor
has violated the law. On this news, AMAG Pharmaceuticals
stock fell $5.37 per share, or 7.62%,
to close at $65.07 on July 27, 2015.
AMAG Pharmaceuticals Shareholders Have Legal
Options
Concerned shareholders who would like more information about
their rights and potential remedies can contact attorney
Darnell R. Donahue at (800)
350-6003, DDonahue@robbinsarroyo.com, or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits, and has helped its clients realize more than
$1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a
similar outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, Ca 92101
DDonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
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SOURCE Robbins Arroyo LLP