AMAG Stock – Amag Shares Sink as FDA Rejects Wider Use of Anemia Drug

The agency asked for more safety data

   

AMAG Stock – Amag Shares Sink as FDA Rejects Wider Use of Anemia Drug

Shares of Amag Pharmaceuticals (AMAG) plunged after regulators declined to approve wider marketing for its Feraheme drug. AMAG stock sank more than 16% in Wednesday premarket trading.

pills spilling prescription bottle 185 flickr AMAG Stock   Amag Shares Sink as FDA Rejects Wider Use of Anemia Drug
Source: Flickr

Feraheme has been approved to treat iron deficiency in adult chronic kidney disease patients, but the U.S. Food and Drug Administration has refused to clear the drug for use among patients suffering from adult iron deficiency anemia (IDA). The agency also told AMAG to provide more data regarding the drug’s health risks. Feraheme has also been approved for sale in Europe, Reuters notes.

prescription drugs 200x200 AMAG Stock   Amag Shares Sink as FDA Rejects Wider Use of Anemia Drug
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Three deaths occurred during one late-stage clinical trials of Feraheme. While none of the deaths were linked to the drug, the FDA told AMAG to provide more data on a larger patient groups.

AMAG stock has rise more than 35% over the past twelve months. AMAG stock closed at $21.86 on Tuesday.


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/amag-stock-amag-shares-sink-fda-rejects-wider-use-anemia-drug/.

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