BUENA, N.J., Sept. 30, 2016 /PRNewswire/ -- Teligent,
Inc. (NASDAQ: TLGT), a New
Jersey-based specialty generic pharmaceutical company, today
announced that its Estonian subsidiary, Teligent OÜ, has received
approval from Health Canada's Therapeutic Products Directorate for
Lidocaine Hydrochloride Topical Solution USP. This is the
fifth approval for Teligent OÜ this calendar year and will be
distributed by Teligent's business in Canada.
Based on internal estimates, the total addressable market for
this product is approximately $1.0
million CAD.
"We are all especially excited to see this approval.
Lidocaine Topical Solution is manufactured in Teligent's facility
in Buena, New Jersey, and is being
distributed by our Canadian organization." commented Jason Grenfell-Gardner, President and CEO of the
Company. "The teams in the United
States, Canada, and
Estonia, have worked great
together and we hope this is the first of many internally
developed, manufactured, and distributed products for Teligent in
Canada. These groups are now preparing for the launch of this
product in 2017."
About Teligent, Inc.
Teligent is a specialty generic pharmaceutical company.
Our mission is to be a leading player in the specialty generic
prescription drug market. Learn more on our website
www.teligent.com.
Forward-Looking Statements
This press release includes certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include, but are not
limited to, plans, objectives, expectations and intentions, and
other statements contained in this press release that are not
historical facts and statements identified by words such as "plan,"
"believe," "continue," "should" or words of similar meaning.
Factors that could cause actual results to differ materially from
these expectations include, but are not limited to: our inability
to meet current or future regulatory requirements in connection
with existing or future ANDAs; our inability to achieve
profitability; our failure to obtain FDA approvals as anticipated;
our inability to execute and implement our business plan and
strategy; the potential lack of market acceptance of our products;
our inability to protect our intellectual property rights; changes
in global political, economic, business, competitive, market and
regulatory factors; and our inability to complete successfully
future product acquisitions. These statements are based on
our current beliefs or expectations and are inherently subject to
various risks and uncertainties, including those set forth under
the caption "Risk Factors" in Teligent, Inc.'s most recent Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and other
periodic reports we file with the Securities and Exchange
Commission. Teligent, Inc. does not undertake any obligation
to update any forward-looking statements contained in this document
as a result of new information, future events or otherwise, except
as required by law.
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Contact:
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Jenniffer
Collins
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Teligent,
Inc.
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(856)
697-4379
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www.teligent.com
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SOURCE Teligent, Inc.