AMAG Pharmaceuticals, Inc. Slumps as it Shelves Possible Sale

Shares of Amag Pharmaceuticals Inc. sank Thursday, a day after the anemia drug maker said it is no longer considering selling itself. THE SPARK: Amag said it has decided to focus on improving sales of its drug Feraheme. The company said in November it had hired Jefferies & Co. to evaluate options for the company, including a possible sale. On Wednesday, Amag said it named William Heiden as its new president and CEO and would shift its "focus from an active sale process" to business development and he growth of Feraheme. The company said Frank Thomas, who became interim CEO in November after Brian Pereira resigned, will go back to being chief operating officer.