AMAG Announces Management Changes and New Commercial Appointments
March 06 2017 - 8:00AM
AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) today announced
changes to the company’s executive and commercial leadership teams,
including that Frank Thomas, president and chief operating officer,
intends to transition out of the organization on April 30, 2017.
Following this transition, Ted Myles, chief financial officer, and
Joseph Vittiglio, general counsel, along with AMAG’s business
development function, will report directly to William Heiden, chief
executive officer of AMAG. Mr. Vittiglio joined AMAG as chief
counsel in August 2015, and Mr. Myles joined the company as chief
financial officer in April 2016.
“I would like to thank Frank for all of his contributions to
AMAG where he has been an effective leader for the past six years,
helping to build and implement our successful growth and portfolio
expansion strategy,” said William Heiden. “I am especially grateful
for the strong team he has helped put in place to execute on AMAG’s
next stage of growth.”
“It has been my honor to help lead AMAG through an exciting
period of growth and change. I am very proud of everything we
accomplished – from both a business and patient perspective, and I
am thankful for the opportunity to work alongside Bill and such a
passionate group of employees over the years,” said Mr. Thomas.
“Implementation of the company’s strategic plan is on track, the
management team is strong, and it’s the right time for me to step
aside, spend some time with my family and pursue the next chapter
in my career.”
AMAG also announced key commercial leadership moves to drive
future growth in maternal and women’s health, following the
company’s recently announced licensing transactions for IntrarosaTM
(prasterone) and bremelanotide.
Paul Williams, who currently leads the company’s maternal health
organization, has been appointed to lead AMAG’s newly created
women’s health business. Mr. Williams, who joined AMAG in 2014,
will be responsible for the launch and commercialization of
Intrarosa, as well as the potential launch of bremalanotide in
early 2019.
Mary Trout, who joined AMAG in 2015 as part of the CBR
acquisition and successfully led the integrated maternal health
field sales force to achieve record sales for Makena over the past
two years, has been promoted to senior vice president of sales and
marketing, maternal health. In her new role, Ms. Trout will lead
AMAG’s maternal health commercial functions. Both Mr.
Williams and Ms. Trout will report to Nik Grund, AMAG’s chief
commercial officer.
About AMAGAMAG is a
biopharmaceutical company focused on developing and delivering
important therapeutics, conducting clinical research in areas of
unmet need and creating education and support programs for the
patients and families we serve. Our currently marketed products
support the health of patients in the areas of women's health,
anemia management and cancer supportive care. Through CBR®, we also
help families to preserve newborn stem cells, which are used today
in transplant medicine for certain cancers and blood, immune and
metabolic disorders, and have the potential to play a valuable role
in the ongoing development of regenerative medicine. For additional
company information, please visit www.amagpharma.com.
Forward-Looking Statements
This press release contains forward-looking information about
AMAG Pharmaceuticals, Inc. 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, among others, beliefs
regarding the ability of AMAG’s current team to execute its next
stage of growth, beliefs that the implementation of AMAG’s
strategic plan is on track and expectations that the commercial
leadership changes will drive future growth in maternal and women’s
health 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.
Such risks and uncertainties include, among others, risks
identified in AMAG’s Securities and Exchange Commission (“SEC”)
filings, including its Annual Report on Form 10-K for the year
ended December 31, 2016, and subsequent filings with the SEC.
AMAG cautions you not to place undue reliance on any
forward-looking statements, which speak only as of the date they
are made. AMAG disclaims any obligation to publicly update or
revise any such statements to reflect any change in expectations or
in events, conditions or circumstances on which any such statements
may be based, or that may affect the likelihood that actual results
will differ from those set forth in the forward-looking
statements.
AMAG Pharmaceuticals® is a registered trademark of AMAG
Pharmaceuticals, Inc. Makena® is a registered trademark of AMAG
Pharmaceuticals IP, Ltd. Cord Blood Registry® is a registered
trademark of CBR Systems, Inc. RekyndaTM is a trademark of
Palatin Technologies, Inc. IntrarosaTM is a trademark of
Endoceutics, Inc.
CONTACTS:
Investors:
Linda Lennox
Vice President, Investor Relations
908-627-3424
Media:
Katie Payne
Vice President, External Affairs
202-669-6786
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