Generic drug maker Teligent files for bankruptcy protection, explores sale of the company

Generic drug maker Teligent files for bankruptcy protection, explores sale of the company
·2 min read

South Jersey specialty generic pharmaceutical firm Teligent Inc. filed for voluntarily bankruptcy protection on Thursday as it pursues the sale of the company or its core assets. Teligent Inc. of Buena in Atlantic County also said it is arranging for $12 million debtor-in-possession financing from its senior secured lenders. The company also announced that CEO Tim Sawyer and Philip Yachmetz, Teligent's chief legal officer and executive vice president, resigned effective Oct. 8.

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