BUENA, N.J., July 02, 2018 (GLOBE NEWSWIRE) -- Teligent, Inc. (NASDAQ:TLGT), a New Jersey-based specialty generic pharmaceutical
company, today announced it has received approval of the Company’s abbreviated new drug application (ANDA) from the U.S. Food and
Drug Administration (FDA) of Lidocaine and Prilocaine Cream USP, 2.5%/2.5%. This is Teligent’s seventh approval for 2018, and
its twenty-sixth approval from its internally-developed pipeline of topical generic pharmaceutical medicines.
Based on recent IQVIA data from April 2018, the total addressable market for this product is approximately $44
million.
“Lidocaine and Prilocaine Cream USP, 2.5%/2.5% is Teligent’s seventh FDA approval in 2018,’’ commented Jason
Grenfell-Gardner, President and CEO of the Company. “Our commitment to developing and manufacturing products internally to
reliably move products through the approval process has paid off once more. We are planning to launch this product in the
third quarter of 2018.”
Mr. Grenfell-Gardner continued, “We now have thirty-one topical generic pharmaceutical products in the US
portfolio, in addition to our four US injectable products.”
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.
Contact:
Damian Finio
Teligent, Inc.
856-336-9117
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.