WALTHAM, Mass., July 12, 2016 (GLOBE NEWSWIRE) -- AMAG Pharmaceuticals, Inc. (AMAG) today announced the appointment of Mark Stanton to the newly created position of vice president, market access and corporate accounts. In this role, Mr. Stanton will lead the company’s market access and reimbursement initiatives across all products, and will report to Nik Grund, chief commercial officer of AMAG.
“Mark is an accomplished executive with a proven track record of building and leading successful teams,” said Mr. Grund. “His extensive knowledge of the market access environment and breadth of experience in various therapeutic areas will be invaluable as we continue our work to develop and implement reimbursement strategies to expand patient access to our current and future products.”
Mr. Stanton brings to AMAG more than 30 years of experience, most recently serving at AstraZeneca as the head of market access optimization since 2015 and the head of the U.S. diabetes market access function since 2013. From 2007 to 2013, Mr. Stanton served as the vice president for market access and reimbursement for Medimmune, Inc., an AstraZeneca Biologics Division. Prior to that, Mr. Stanton served in a variety of corporate accounts and sales roles at a number of pharmaceutical companies.
Mr. Stanton holds a Bachelor of Science degree in business administration from Castleton State College, Vermont.
Inducement Equity Awards
In connection with Mr. Stanton’s entering into employment with AMAG, the Board of Directors of AMAG approved awards to Mr. Stanton of (i) an option to purchase 10,000 shares of common stock and (ii) 2,500 restricted stock units. The option will have an exercise price equal to the closing price of AMAG’s common stock on the grant date and will be exercisable in four equal annual installments beginning on the first anniversary of the grant date. The option will have a ten-year term and be subject to the terms and conditions of the stock option agreement pursuant to which the option will be granted. The restricted stock units will vest in three equal annual installments beginning on the first anniversary of the grant date and will be subject to the restricted stock unit agreement pursuant to which the restricted stock units will be granted. These equity awards will be granted without stockholder approval as inducements material to Mr. Stanton entering into employment with AMAG in accordance with NASDAQ Listing Rule 5635(c)(4).
About AMAG
AMAG is a biopharmaceutical company focused on developing and delivering important therapeutics, conducting clinical research in areas of unmet need and creating education and support programs for the patients and families we serve. Our products support the health of patients in the areas of maternal health, anemia management and cancer supportive care. Through CBR®, we also help families to preserve newborn stem cells, which are used today in transplant medicine for certain cancers and blood, immune and metabolic disorders, and have the potential to play a valuable role in the ongoing development of regenerative medicine. For additional company information, please visit www.amagpharma.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein which do not describe historical facts, including but not limited to statements regarding Mr. Stanton’s contributions and responsibilities, including his role in the company’s market access and reimbursement initiatives across all products; and AMAG’s ability to provide clear benefits and help improve people’s lives are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements.
Such risks and uncertainties include, among others, those identified in AMAG’s Securities and Exchange Commission (SEC) filings, including AMAG’s Annual Report on Form 10-K for the year ended December 31, 2015, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2016 and subsequent filings with the SEC. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made.
AMAG disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
AMAG Pharmaceuticals® is a registered trademark of AMAG Pharmaceuticals, Inc. CBR® is a registered trademark of CBR Systems, Inc.
