Teligent (TLGT) Reports Q3 EPS of $0.01

October 27, 2016 4:08 PM EDT
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Teligent (NASDAQ: TLGT) reported Q3 EPS of $0.01, versus $0.00 reported last year. Revenue for the quarter came in at $16.2 million versus the consensus estimate of $16.9 million.

''We delivered another strong quarter of growth, while also achieving regulatory approvals and executing product launches,'' said Jason Grenfell-Gardner, President and Chief Executive Officer. "During the quarter, we received approval from the FDA for two ANDAs, which we launched within sixty days of approval. We also received approval of six products from Health Canada, all of which we plan to launch in the beginning of 2017.''

Mr. Grenfell-Gardner continued, "We are committed to executing our TICO strategy to expand our specialty generic pharmaceutical product portfolio in the topical, injectable, complex, and ophthalmic markets. Revenue from our own portfolio of injectable and topical products increased 60% over the same quarter last year, and 25% over the second quarter of 2016. We are pleased to see our sequential growth coming from both our specialty generic injectable portfolio, as well as six successful launches of Teligent products so far in 2016. Just one year ago, Teligent had seven topical generic products and no generic injectable products in our US portfolio. We now market twelve products in twenty-two presentations in the US generic topical market, and another four products in nineteen presentations in the US injectable market. We also market nineteen products in thirty-eight presentations in the Canadian injectable market. Our injectable business in the US and Canada represents 26% of our year-to-date revenue for the Company, compared to zero at this time last year."

For earnings history and earnings-related data on Teligent (TLGT) click here.



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