AMAG’s Board urges all AMAG shareholders to refrain from taking any action (including returning any consent card sent by Caligan) at this time. The Company’s Board of Directors, in consultation with its advisors, is reviewing Caligan’s solicitation materials and will advise AMAG’s shareholders of its recommendation regarding Caligan’s solicitation in due course.
*** SHAREHOLDERS SHOULD TAKE NO ACTION ON CALIGAN’S CONSENT SOLICITATION ***
Dear AMAG Shareholder:
You may soon receive consent solicitation materials from
The Board is committed to acting in the best interest of shareholders and maximizing long-term value creation, and remains steadfast in its belief that any corporate action taken must be for the benefit of all AMAG shareholders. Since 2017, the Company has made significant progress executing on its ambitious five-year strategic plan to develop and commercialize innovative products. In this timeframe, AMAG has successfully transformed from a specialty pharmaceuticals company with only two assets into a pharmaceutical company with four commercial therapies and two development-stage programs all while strengthening the financial profile of the Company. AMAG has streamlined and diversified its product portfolio and development pipeline through the divestiture of the CBR business and the acquisitions of AMAG-423 and ciraparantag and significantly strengthened its balance sheet through debt reduction and salesforce consolidation. Your Board believes that the removal of four highly-qualified and experienced members of the Board would be detrimental to the Company and our shareholders.
*** WE STRONGLY URGE YOU TO WAIT FOR AMAG’s CONSENT REVOCATION STATEMENT AND
GREEN CONSENT REVOCATION CARD FORM ***
It is imperative that shareholders take the necessary time to review relevant information, including the recommendation of AMAG’s Board, before taking any action with respect to Caligan’s consent solicitation. The Company intends to mail to you a consent revocation statement and accompanying GREEN consent revocation card, which will explain in more detail the Board’s reasons for opposing Caligan’s consent solicitation.
***DO NOT SIGN ANY WHITE CALIGAN CONSENT***
We urge all shareholders to refrain from taking any action at this time and to WAIT for AMAG’s consent revocation statement and GREEN consent revocation card. In the meantime, we urge all shareholders to disregard Caligan’s consent efforts and discard any materials that may have been sent to you by Caligan. If you have any questions or require assistance, please contact AMAG’s proxy solicitor,
|Gino Santini||William K. Heiden|
|Chairman of the Board||President and Chief Executive Officer|
Important Additional Information and Where to Find It
In connection with the consent solicitation initiated by Caligan, the Company has filed a preliminary consent revocation statement and accompanying GREEN consent revocation card and other relevant documents with the
Certain Information Regarding Participants to the Solicitation
The Company, its directors and certain of its officers and employees will be deemed participants in the solicitation of consent revocations from the Company’s shareholders. Information regarding the direct and indirect interests, by security holdings or otherwise of the Company’s directors and executive officers is set forth in the Company’s definitive proxy statement for the 2019 Annual Meeting of Stockholders filed with the
This communication contains forward-looking information about AMAG 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, among others, the belief that any corporate action taken must be for the benefit of all Company shareholders and must be rooted in a strong understanding of the pharmaceutical industry, AMAG’s business and its important milestones ahead, beliefs about AMAG’s strategy and long-term value creation, beliefs about AMAG’s strategic plan and implementation thereof, beliefs about AMAG’s financial profile and its Board and expectations as to and beliefs about the consent solicitation 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, the impact and results of the consent solicitation and other activism activities by Caligan and/or other activist investors; as well as those risks identified in AMAG’s filings with the
AMAG is a pharmaceutical company focused on bringing innovative products to patients with unmet medical needs. The company does this by leveraging its development and commercial expertise to invest in and grow its pharmaceutical products across a range of therapeutic areas, including women’s health. For additional company information, please visit www.amagpharma.com.
|AMAG Pharmaceuticals Contacts:|
|Linda Lennox||Rushmie Nofsinger|
Source: AMAG Pharmaceuticals, Inc.