WALTHAM, Mass., April 25, 2017 (GLOBE NEWSWIRE) -- AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) today announced the appointment of Arpad Simon, M.D., to the role of vice president of pharmacovigilance. Dr. Simon has worked in the pharmaceutical industry for more than 20 years with extensive operational and leadership experience in clinical development and pharmacovigilance. Prior to joining AMAG, he served in executive-level pharmacovigilance roles at Relypsa, Mitsubishi Tanabe Pharma, Pfizer and other companies.
“Arpad’s vast experience in pharmacovigilance and risk management will be invaluable to AMAG as the company continues to expand. He understands how to build and successfully lead strong pharmacovigilance programs in growth-oriented environments. We are excited to have him join the team,” said Robert Kaper, M.D., senior vice president, medical and scientific affairs at AMAG.
Dr. Simon will have responsibility for all pharmacovigilance functions at AMAG, including product safety surveillance, aggregate safety reporting and risk management. He will also oversee safety evaluation across the company’s clinical development activities and marketed therapeutics.
In addition to his leading roles in the pharmaceutical industry both from a U.S. and global perspective, Dr. Simon also worked for five years at the FDA Center for Drug Evaluation and Research. He has successfully led and managed initiatives in the areas of clinical trials, post-marketing safety, benefit-risk management, business development, integration, process design and regulatory interactions. Dr. Simon received his medical degree from Albert Szent-Gyorgyi Medical University in Hungary.
Inducement Equity Awards
In connection with Dr. Simon’s entering into employment with AMAG, the Board of Directors of AMAG approved awards to Dr. Simon of (i) an option to purchase 13,100 shares of common stock and (ii) 1,800 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 Dr. Simon entering into employment with AMAG in accordance with NASDAQ Listing Rule 5635(c)(4).
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 women’s and 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.
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 Dr. Simon’s responsibilities at AMAG, including AMAG’s belief that Dr. Simon’s experience in pharmacovigilance and risk management will be invaluable to AMAG 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. Contact: Investors: Christi Waarich Associate Director, Investor Relations 617-498-7638 Media: Rushmie Nofsinger Executive Director, Corporate Communications & Alliance Engagement 617-498-3332
Source:AMAG Pharmaceuticals, Inc.