AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) today provided an update on
the commercial launch of Feraheme® (ferumoxytol) Injection for
intravenous (IV) use, including preliminary fourth quarter 2009 Feraheme
net product revenues estimates, as well as an update on the Company’s
international and label expansion efforts. The Company will present
further details at the 28th Annual J.P. Morgan Healthcare
Conference in San Francisco on January 11, 2010 at 11:00 a.m. Pacific
time.
“Although we are still in the early days of the launch of Feraheme,
we are pleased with the results to date, having ended 2009 with Feraheme
being the number one intravenous iron utilized in nephrology offices”
Commercial Launch of Feraheme
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AMAG expects to report fourth quarter 2009 Feraheme net product
revenues of between $12 and $13 million (unaudited), including
approximately $1 million of the $11.5 million in previously deferred
product revenues. The Company expects that utilization of the
remaining deferred product revenues from the launch incentive program,
which were recorded during the third quarter of 2009, will increase
going forward as each launch incentive program customer has now
initiated a pilot program and begun to use Feraheme. These
deferred revenues will be recognized when the purchases are utilized
by these customers; no new deferred revenues are expected to be
recorded during the fourth quarter of 2009. The Company continues to
expect that total operating expenses for the fourth quarter of 2009
will be higher than those reported for the third quarter of 2009, due
primarily to increases in both research and development expenses and
commercial spending.
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More than 1,000 customers have purchased Feraheme;
collectively, these customers have used 200,000 grams of all forms of
IV iron over the past 52 weeks1. Approximately 60
percent of customers have purchased Feraheme on a repeat basis.
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AMAG estimates that approximately 60 percent of Feraheme
provider demand through the first five months of launch was outside of
the dialysis setting.
International Expansion