In a letter to the Amags Board on Tuesday, Martin Shkreli, said the company's chief investment officer MSMB offer stems from his rejection of Amags recently proposed merger with Colorado-based drug developer, Allose Therapeutics.
Shkreli also said MSMB, a long-term investor in Amag, believes that the current management strategy "does not protect shareholders ' interests and ensure Amags Amags long-term viability."
He said since hedge fund proposal is contingent upon export performance to reach an agreement with Amag before 1 September.
Amag, Massachusetts-based manufacturer of anemia drugs, replied MSMB letter by saying its Board of Directors will carefully consider and evaluate "MSMB proposals and will inform the Amag shareholders its position.
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