BUENA, N.J., Oct. 5, 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 Ointment USP 5%. This is the sixth 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 $1.3 million CAD.
“A year ago, Teligent had all operations in New Jersey. In one year, we’ve worked together as an organization and evolved to have operations in New Jersey, Canada, and Estonia. The three countries are working together to execute our business model. I am very proud to see what’s been accomplished in a year and look forward to what is to come,” commented Jason Grenfell-Gardner, President and CEO of the Company. “The teams 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.
Contact: | Jenniffer Collins |
Teligent, Inc. | |
(856) 697-4379 | |
Logo - http://photos.prnewswire.com/prnh/20151022/279641LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/second-teligent-topical-product-approved-by-health-canada-300339520.html
SOURCE Teligent, Inc.
