AMAG Pharma eyes lower-than-expected quarterly revenue

By Sarah Coffey

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AMAG Pharmaceuticals Inc. (Nasdaq: AMAG) said Monday it expects fourth quarter revenue of between $14.3 million to $15 million, lower than the $16 million analysts polled by Bloomberg estimated.

The Lexington company put itself up for sale late last year after lackluster revenue for its anemia drug and a failed merger attempt. It received approval for the drug, called Feraheme, from Canadian regulators in December.

The company said it expects fourth quarter operating costs and expenses of $38 million to $43 million, including restructuring costs and a $2 million termination fee paid to Allos Therapeutics Inc.

AMAG said its 2012 goals include optimizing Feraheme’s pricing strategy. The company plans to launch a trial for the broader use of iron deficiency anemia in early 2012. It reiterated plans to cut 25 percent of jobs and is being advised by Jefferies & Co.

AMAG’s stock closed at $18.54 Friday and was inactive premarket. The stock is up 11 percent over the past year.

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