Business

Amag hires advisor to explore strategic opportunities

Amag Pharmaceuticals Inc., which earlier this month announced job cuts and the resignation of its chief executive, announced today that it has hired a strategic advisor to assist it in “identifying and evaluating various strategies to enhance stockholder value.”

In a press release, Lexington-based Amag added that it is reviewing a potential sale of the company as one of its options.

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The advisor is Jefferies & Company Inc.

In a statement, interim president and chief executive Frank Thomas said: “The Jefferies team will help us evaluate all means to create stockholder value and support us in determining the best path forward for AMAG. We will expeditiously complete this process, which will include a parallel review of a potential sale of the company and other strategic merger and acquisition transactions.”

Earlier this month, the company said that chief executive Brian J.G. Pereira had resigned and that Amag would begin a restructuring that includes cutting about 25 percent of its jobs and up to $25 million in operating expenses.

Chris Reidy can be reached at reidy@globe.com.
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