AMAG shares spike on CEO's resignation, layoff plans

The beleaguered CEO of AMAG Pharmaceuticals ($AMAG) took his final bow on Friday, resigning from the company as the developer announced plans to ax a quarter of its workforce and start reviewing all its options, including a possible sale. The news of Brian Pereira's departure and the restructuring triggered a sharp spike in the company's share price. The layoffs will mean pink slips for more than 50, coming just weeks after its effort to merge with Allos--widely criticized among analysts--failed to garner sufficient support from shareholders. Story

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