AMAG Pharmaceuticals, Inc. Added to NASDAQ Biotech Index

AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) a biotechnology company that utilizes its proprietary nanoparticle technology for the development and commercialization of therapeutic iron compounds to treat anemia and novel imaging agents to aid in the diagnosis of cancer and cardiovascular disease, today announced that it has been selected for addition to the NASDAQ Biotechnology Index® (NASDAQ:NBI), which will become effective with the market open on May 19, 2008.

“We are very pleased to be included in the NASDAQ Biotechnology Index and believe that our selection to this index recognizes the Company’s significant progress toward becoming a commercial biopharmaceutical company, including the submission of the ferumoxytol New Drug Application and its subsequent acceptance for review by the FDA,” stated Brian J.G. Pereira, M.D., President and Chief Executive Officer of AMAG Pharmaceuticals. “We are continuing to prepare for the anticipated launch of ferumoxytol in the U.S. during the first quarter of 2009, which, if approved, could provide a new option in the treatment of iron deficiency anemia in chronic kidney disease patients.”

The NASDAQ Biotechnology Index was launched in 1993 and includes securities of NASDAQ-listed companies that meet minimum requirements, including market capitalization, trading volume and other criteria. The index is ranked on a semi-annual basis in May and November and serves as the basis for the iShares NASDAQ Biotechnology Index Fund (Amex: IBB). For more information about the NASDAQ Biotechnology Index, including eligibility criteria, visit www.nasdaq.com.

About AMAG Pharmaceuticals, Inc.

AMAG Pharmaceuticals, Inc. is a biopharmaceutical company that utilizes its proprietary nanoparticle technology for the development and commercialization of therapeutic iron compounds to treat anemia and novel imaging agents to aid in the diagnosis of cancer and cardiovascular disease.

Ferumoxytol, the Company’s key product candidate, is being developed for use as an intravenous iron replacement therapeutic agent for the treatment of iron deficiency anemia in chronic kidney disease patients. The Company has released data on all four planned Phase III clinical trials of ferumoxytol as an intravenous iron replacement therapeutic agent in chronic kidney disease patients. The Company submitted a New Drug Application for marketing approval of ferumoxytol with the U.S. Food and Drug Administration (FDA) in December 2007, which was accepted for filing by the FDA in February 2008.