AMAG Pharmaceuticals Provides COVID-19 Company Update
16 April 2020 - 2:00PM
AMAG Pharmaceuticals, Inc. (NASDAQ:
AMAG) today provided an update regarding the potential
impact of COVID-19 on the company. AMAG is committed to the health
and safety of its employees, patients, healthcare providers,
business partners and communities and is following the guidance
from the Center for Disease Control (CDC) and Prevention and local
public health authorities, including implementing a work from home
policy for all employees.
All products currently remain available to patients. At this
time, the company’s supply chain has not been materially affected
by COVID-19 and the company continues to closely monitor suppliers
and supply levels. The company has risk mitigation plans in place
to minimize potential supply interruptions, including redundant
drug substance manufacturing and inventory safety stock, and will
continue to work diligently with its suppliers to maintain
continuous supply as the COVID-19 situation evolves.
The COVID-19 pandemic is an evolving situation and is having an
impact on clinical trials globally. The company continues to assess
potential impacts to its current clinical development activities
for the ongoing AMAG-423 Phase 2b/3a clinical trial and the planned
ciraparantag Phase 2b trial in healthy volunteers. The company
believes that the COVID-19 pandemic is adversely impacting its
current development timelines, including delaying new site
initiation and patient enrollment.
Similarly, the company believes the COVID-19 pandemic will
impact its business operations and associated financial
performance, primarily due to reduced patient visits to healthcare
providers. The company plans to provide further updates during its
first quarter 2020 earnings review in early May.
ABOUT AMAGAMAG is a pharmaceutical company
focused on bringing innovative products to patients with unmet
medical needs. The company does this by leveraging our development
and commercial expertise to invest in and grow its pharmaceutical
products across a range of therapeutic areas. For additional
company information, please visit www.amagpharma.com.
FORWARD-LOOKING STATEMENTSThis 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 about the expected impact of COVID-19 on the
company’s operations are based on management’s current expectations
and beliefs and 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, uncertainty
as to the impact of the COVID-19 pandemic, the scope, breadth and
duration of which is unknown and rapidly evolving, on AMAG’s
revenues and results of operations; the risk that AMAG’s protocols
and mitigation efforts will not be successful to avoid or minimize
business disruptions; the ability of patients and healthcare
providers to receive and administer AMAG’s products, particularly
as resources and availability of space and services at hospitals,
physician’s officer and other sites of care are strained to support
the response to COVID-19; the impact of COVID-19 on AMAG’s business
development activities; the risk that the supply chain for
Feraheme®, Makena®, Intrarosa® and/or Vyleesi® will be interrupted
as a result of the COVID-19 pandemic; the impact on AMAG’s
operations and financial results from the spread of COVID-19 in the
geographies and industries where AMAG and its suppliers and
business partners operate, as well as those risks identified in
AMAG’s filings with the U.S. Securities and Exchange Commission
(SEC), including its Annual Report on Form 10-K for the year ended
December 31, 2019, and any subsequent Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K, and any other subsequent
filings with the SEC, which are or will be available at the SEC’s
website at www.sec.gov. Any such risks and uncertainties could
materially and adversely affect AMAG’s results of operations, its
profitability and its cash flows, which would, in turn, have a
significant and adverse impact on AMAG’s stock price. 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®, the logo and designs, Feraheme® and
Vyleesi ® are registered trademarks of AMAG Pharmaceuticals, Inc.
Makena® is a registered trademark of AMAG Pharma USA, Inc.
Intrarosa® is a registered trademark of Endoceutics, Inc.
CONTACT:Linda Lennox908-627-3424
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