Covis Group to acquire AMAG Pharmaceuticals for $647m.

Covis Group, a global specialty pharmaceutical company, offered to acquire AMAG Pharmaceuticals, a commercial-stage biopharmaceutical company, for $647m. “AMAG’s category leading treatments are strong strategic complements to our existing therapeutic portfolio. Through this combination, we believe we will be able to unlock value for all of our stakeholders, employees and patients through the effective and efficient management of these products, coupled with our two companies’ longstanding commitment to expanding patient access to therapy and putting patient interests first. At Covis, we never lose sight that our patients are our paramount concern. We look forward to engaging with the talented team at AMAG as we work together to plan the integration of our two organizations,” Michael Porter, Covis CEO. Covis commenced the tender offer on October 15, 2020.