Tuesday, September 30, 2014
UPDATE 2-Amag Pharma enters women health business with $675 mln deal--Makena, included
(Adds CEO and analyst comments, background, updates stock price)
By Vidya L Nathan
(Reuters) - Amag Pharmaceuticals Inc entered the women's healthcare business by acquiring privately held Lumara Health Inc for $675 million in its biggest deal ever, sending its shares up as much as 23 percent to a four-year high.
The cash and stock deal gives Amag access to Lumara's Makena, the only approved product designed to reduce the risk of preterm birth, and Amag CEO William Heiden said his company was on the hunt for more such deals.
"We'll target to acquire or license additional assets within the women's health segment," Heiden said in a conference call.
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