AMAG Pharmaceuticals (NASDAQ:AMAG) announces the initiation of a leadership transition, the decision to divest Intrarosa and Vyleesi and financial updates.
William Heiden plans to step down as AMAG’s President and CEO, and a search for his successor is expected to complete by mid-2020.
In addition, CFO Ted Myles will assume the additional role of Chief Operating Officer, effective immediately.
General Counsel Joseph Vittiglio will assume the additional role of Chief Business Officer.
Aiming long-term profitability and enhancing shareholder value, AMAG will divest Intrarosa (prasterone) and Vyleesi (bremelanotide). The Company has received preliminary expressions of interest to acquire/sub-license the rights to these products.
AMAG expects Q4 and FY 2019 total revenue in the range of $86M – 91M and $324M – 329M, respectively.
Q4 and FY 2019 Feraheme revenue in the range of $40M – 42M and $167M – 169M, respectively.
Q4 and FY 2019 Makena revenue between $24M – 27M and $120M – 123M, respectively.
Q4 and FY 2019 Non-GAAP adjusted EBITDA between ($10M) – $0 and ($60M – $70M), respectively.
The company also reports 2020 outlook:
Total revenue in the range of $230M – 280M.
Non-GAAP adjusted EBITDA between $20M – 50M.
The Company expects to report final financial results for Q4 and FY 2019 in early March.
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