AMAG Pharmaceuticals to Buy Stem Cell Company for $700 Million

AMAG Pharmaceuticals Inc., a specialty drug company, said it will acquire Cord Blood Registry for $700 million to expand its maternal health business.

CBR houses more than 600,000 preserved umbilical cord blood and tissue stem cell units, more than half of all privately stored cord units in the U.S., Waltham, Massachusetts-based AMAG said Monday in a statement announcing the deal.