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The Boston Globe

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MASS. MOVERS

Amag sinks as it shelves possible sale

  May 11, 2012

Amag Pharmaceuticals Inc., maker of the anemia drug Feraheme, said it appointed William K. Heiden chief executive as the company turns its focus from pursuing a sale to expanding use of the medicine. Shares sank on the news. Heiden, 52, replaces interim chief Frank Thomas, who will resume as operating chief, the Lexington company said. Amag also said it agreed to allow its largest shareholder, Adage Capital, to increase its stake to 25 percent. Amag has said it plans to increase demand for Feraheme by more than 15 percent in 2012. Heiden comes from GTC Biotherapeutics Inc.

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