Teligent, Inc. has announced that it has completed the acquisition of the assets of Alveda Pharmaceuticals, Inc. for $47 million CAD in cash.
Announced in October 2015, the accretive transaction provides Teligent a platform to expand its specialty generic pharmaceutical portfolio of products across Canada.
''We look forward to building on the successful business that the Alveda team has created over the last several years,'' said Jason Grenfell-Gardner, President and CEO of Teligent. ''We see great opportunities to integrate our R&D capabilities with the commercial and regulatory strengths of our new colleagues in Canada.''
As part of the deal closing, the Company has announced the appointment of Mike Bethell as General Manager, Canada for Teligent. ''Mike has been with Alveda from the beginning. He has played a significant role in driving the company's growth, and we look forward to his leadership and market expertise to further build our business in Canada.''