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Teligent launches review of noncore assets

Teligent Inc. said it launched a strategic review of noncore assets.

"We remain committed to our [topical, injectable, complex and ophthalmics] strategy, but recognize that in the face of a changing marketplace and inbound interest in the assets we developed, it's in our shareholders' best interest to explore options to monetize these assets," CEO Jason Grenfell-Gardner said in the Oct. 1 news release.

The Buena, N.J.-based generic-drug maker said it would use any proceeds to pay down debt and fund the development of its sterile-injectable manufacturing facility.

The company said there is no defined timeline for the strategic review and no guarantee that it will result in the completion of any action.

Teligent, which develops, manufactures, markets and sells generic pharmaceutical products, retained SVB Leerink as the financial adviser for the strategic review.