Teligent Inc. sold its Canadian assets to Hikma Pharmaceuticals, a UK-based multinational pharmaceutical company, for approximately $57 million. The agreement was announced on January 17, 2022 and was expected to be completed before the end of the first quarter of 2022.

Teligent, a U.S.-based specialty generic pharmaceutical company, initiated the sale of its core assets as part of a voluntary protection process under Chapter 11 of the U.S. Bankruptcy Code, filed in October 2021.

Hikma stated in a press release that the acquisition included a Canadian portfolio comprising “25 sterile injectable products, three in-licensed ophthalmic products, and a pipeline of seven additional products.” This move is part of Hikma’s strategic expansion into Canada.

Riad Mishlawi, President of Hikma Injectables, commented, “This acquisition further expands our portfolio of essential sterile injectable medicines and gives Hikma an entry into the highly attractive Canadian injectables market. The combination of our sales and marketing expertise and this portfolio of exciting products will enable us to expand our North American business and develop a solid position in this important market.”