WALTHAM, Mass., Aug. 08, 2017 (GLOBE NEWSWIRE) -- AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) today announced the appointment of Oscar Sanchez as vice president of quality effective immediately. He will report to Joseph Vittiglio, general counsel and senior vice president of legal affairs and quality.
In his role at AMAG, Mr. Sanchez is responsible for creating and implementing programs, policies and procedures related to quality assurance and quality control activities across the company’s commercially-available therapeutics, multiple development stage products and cord blood banking services. He will also provide compliance oversight of activities involving recognized quality standards, such as good manufacturing practices and good clinical practices, as well as accreditations and industry certifications.
“Oscar brings a wealth of experience to AMAG, having led the quality function at various global pharmaceutical organizations,” said Mr. Vittiglio. “His quality and regulatory experience will be essential to our business as AMAG continues to develop and market novel therapeutics to address significant unmet medical needs.”
Mr. Sanchez has more than 25 years of experience in the pharmaceutical and medical device industries, serving in leadership roles at organizations such as Albany Molecular Research Institute, MAQUET, Novartis and General Electric Healthcare, among others.
Mr. Sanchez holds a bachelor’s of science degree from Excelsior College in Albany, NY. He is also a certified Six Sigma Master Black Belt.
Inducement Equity Awards
In connection with Mr. Sanchez’ entering into employment with AMAG, the Board of Directors of AMAG approved awards to Mr. Sanchez of (i) an option to purchase 15,000 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. Sanchez 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 currently marketed products support the health of patients in the areas of maternal and women’s 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. Sanchez’ responsibilities at AMAG, including creating and implementing programs, policies and procedures related to quality assurance and quality control activities and providing compliance oversight of activities involving recognized quality standards; AMAG’s belief that Mr. Sanchez’ quality and regulatory experience will be essential to AMAG’s business as it continues to develop and market novel therapeutics to address significant unmet medical needs; and beliefs that newborn stem cells have the potential to play a valuable role in the development of regenerative medicine 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, 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.
AMAG Pharmaceuticals, Inc. Contacts: Media: Rushmie Nofsinger Executive Director, Corporate Communications & Alliance Engagement 617-498-3332 Investors: Christi Waarich Associate Director, Investor Relations 617-498-7638
