Bankrupt Teligent Set To Raise $87m Following Auction Process

Leiters And PAI Join Hikma With Deals For New Jersey-Based Firm’s Assets

 
• By Dean Rudge

After filing for Chapter 11 bankruptcy protection in October last year, Teligent has sewn up the sales of its Buena manufacturing site and ANDAs, with an auction process providing mixed results.

Wooden blocks with blue up arrows
Teligent's creditors have seen an increase of $23m for its assets • Source: Alamy/Andrii Yalanskyi

Stalking horse bidders Leiters and PAI Holdings have emerged successful in their individual pursuits of bankrupt Teligent’s assets, following a mixed auction process.

The two deals came as Hikma triumphed over Ontario-based hospital and retail pharmacy products manufacturer SteriMax and other bidders for...

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