Camber Capital to discuss Amag's board composition with shareholders - (This is Money via NewsPoints Desk)

  • Camber Capital Management disclosed a stake of 12.9% in Amag Pharmaceuticals and indicated that it plans to talk to shareholders about the drugmaker's board composition, as reported by This is Money.

  • The news comes a few weeks after Caligan Partners, which holds 10.3% stake in the company, sought shareholders' consent on its call for removal of four directors from Amag's board.

  • In June, Amag garnered FDA approval for its therapy to restore sexual desire in premenopausal women, yet two months later lowered its full-year sales outlook due to disappointing sales in its women's health segment.

  • In Caligan's September filing, the shareholder said it believed Amag could be worth more than $30 per share, which is more than twice the company's current share value.

  • Caligan had said Amag should conduct a review of its alternatives, including separating its women's health products from its treatments for other disorders.

To read more NewsPoints articles, click here.