Teligent (TLGT) Announces Health Canada Approves First Teligent Topical Product
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
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."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Veracyte (VCYT) Announces Significant Data from Percepta Bronchial Genomic Classifier in Lung Cancer Screening
- MGT Capital (MGTI), Bitmain Technologies Enter LOI to Form Bitcoin Joint Venture
- Sunrun (RUN) Reports Energy Storage Partnership with LG Chem
Create E-mail Alert Related CategoriesCorporate News, FDA, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!