WALTHAM, Mass., Jan. 7, 2014 (GLOBE NEWSWIRE) -- AMAG Pharmaceuticals, Inc. (Nasdaq:AMAG) today announced the appointment of Elizabeth Bolgiano as senior vice president of human resources. Ms. Bolgiano brings more than 20 years of experience across the spectrum of human resources disciplines, including organizational development, strategy, talent acquisition, employee relations, compensation, and leadership development and training. Prior to joining AMAG, Ms. Bolgiano served as senior vice president of human resources and a member of the executive team for Thermo Fisher Scientific, a publicly-traded, global life sciences organization with thirteen divisions and 40,000 employees.
"Elizabeth is a great addition to the AMAG leadership team," said William Heiden, president and chief executive officer of AMAG. "Her proven ability to translate corporate strategy into an effective workforce and organizational plan will be highly valuable to us as we expand our business and migrate to a multi-product specialty pharmaceutical company. Additionally, Elizabeth's skills and experiences integrating acquired products and companies will be increasingly important as we continue to pursue an aggressive business development strategy at AMAG."
"I am excited to be joining a team that is so committed to making a difference in the lives of patients," said Ms. Bolgiano. "I look forward to making the work environment at AMAG an even more rewarding and fulfilling experience for both current and future employees, while contributing to the future growth of the company."
Ms. Bolgiano has significant experience in human resources, having served in various leadership roles at Thermo Fisher Scientific, Smith & Nephew Company, and Bristol-Myers Squibb Company both in the U.S. and globally. She has successfully designed, developed and delivered programs to improve effectiveness in strategic organizational decision making and prioritization. Ms. Bolgiano holds a Master's degree in business administration, as well as a Bachelor's degree, from Cornell University.
Inducement Equity Awards
In connection with Ms. Bolgiano's entry into her employment agreement, Ms. Bolgiano will be granted (i) an option to purchase 60,000 shares of common stock and (ii) 20,000 restricted stock units. The option will have an exercise price equal to the closing price of AMAG's common stock on the grant date and will be exercisable in four equal annual installments beginning on the first anniversary of the grant date. The option will have a ten-year term and be subject to the terms and conditions of the stock option agreement pursuant to which the option will be granted. The restricted stock units will vest in four equal annual installments beginning on the first anniversary of the grant date and will be subject to the restricted stock unit agreement pursuant to which the restricted stock units will be granted. These equity awards will be granted without stockholder approval as inducements material to Ms. Bolgiano's entering into employment with AMAG in accordance with NASDAQ Listing Rule 5635(c)(4).
About AMAG
AMAG Pharmaceuticals, Inc. is a rapidly growing, specialty pharmaceutical company, supported by a talented and passionate workforce. AMAG currently markets Feraheme® (ferumoxytol) Injection and MuGard® Mucoadhesive Oral Wound Rinse in the United States. Along with driving organic growth of its products, AMAG intends to expand its portfolio with additional commercial-stage specialty products. The company is seeking complementary products that leverage the company's commercial footprint and focus on hematology and oncology centers and hospital infusion centers. The company's primary goal is to bring to market therapies that provide clear benefits and improve patients' lives. For additional company information, please visit www.amagpharma.com.
Forward-looking Statements
This press release contains forward-looking statements 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 but not limited to statements regarding Ms. Bolgiano's contributions to AMAG and the intended expansion and focus of AMAG's product portfolio; the company's intent to drive organic growth of Feraheme; and the company's plans to seek complementary commercial products to add to its portfolio 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: (1) uncertainties regarding our and Takeda's ability to successfully compete in the intravenous iron replacement market both in the US and outside the US, including the EU, (2) uncertainties regarding our ability to compete in the oral mucositis market in the US, (3) uncertainties regarding our ability to successfully and timely complete our clinical development programs and obtain regulatory approval for Feraheme/Rienso in the broader IDA indication both in the US and outside of the US, including the EU, (4) the possibility that significant safety or drug interaction problems could arise with respect to Feraheme/Rienso and in turn affect sales, regulatory approval, or our ability to market the product both in the U.S. and outside of the U.S., including the EU, (5) uncertainties regarding the manufacture of Feraheme/Rienso or MuGard, (6) uncertainties relating to our patents and proprietary rights both in the US and outside the US, (7) the risk of an Abbreviated New Drug Application (ANDA) filing following the FDA's recently published draft bioequivalence recommendation for ferumoxytol, and (8) other risks identified in our Securities and Exchange Commission (SEC) filings, including our Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 and subsequent filings with the SEC. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made.
We disclaim 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 and Feraheme are registered trademarks of AMAG Pharmaceuticals, Inc. Rienso is a trademark of Takeda Pharmaceutical Company Limited. MuGard is a registered trademark of Access Pharmaceuticals, Inc.
CONTACT: AMAG Pharmaceuticals, Inc. Contact: Amy Sullivan, 617-498-3303
