Pharmaceutical Associates, Inc. (PAI) announces that it has acquired all of the generic and branded US marketing authorizations from Teligent Inc. (Teligent) for an undisclosed amount.
The acquisition marks PAI’s expansion into Sterile Injectable and Topical products and includes a portfolio of over 60 generic and branded applications, including almost 50 approved applications and a pipeline of over 15 additional filed products. PAI intends to commercialize certain products from the portfolio where favorable U.S. market opportunities exist now and in the future.
Domenic Ciarico, Chief Commercial Officer of PAI commented, “This acquisition expands our overall portfolio specifically in sterile injectable products and gives PAI a platform to continue to add value for our customers.”
Brandon Rockwell, PAI’s Chief Operating Officer added, “This is an exciting time for PAI. We are confident in our ability to launch these products that we acquired from Teligent. We are continuing to expand our portfolio through a mix of internal R&D and smart business development transactions like this one.”
In October 2021, Teligent filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code. As part of this process, Teligent initiated a sale of its core assets, following which PAI has agreed to acquire Teligent’s US filings.