Teligent Inc on Friday secured court approval to access part of a $12 million loan to fund operations while the generic drugmaker works through its bankruptcy and sale process.
. Teligent reported nearly $130 million in debt and blamed its troubles on the combination of manufacturing violations identified by the U.S. Food and Drug Administration and the COVID-19 pandemic.
Teligent, represented by Young Conaway Stargatt & Taylor and K&L Gates, is pursuing a sale process that it expects to conclude at the end of January. Interested parties looking to make lead bids for the company have until Nov. 22 to do so. In 2019, the FDA identified several violations of manufacturing regulations at Teligent’s Buena, New Jersey facility and required the company to come into compliance. Teligent then conducted a product review and recalled certain products, while halting manufacturing on others.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
14 Hilarious Posts That Drop-Kicked The Gender BinaryI never want to hear that a woman is “tapping into her masculine energy” again.
Baca lebih lajut »
Bank of America is set to report third-quarter earnings — here’s what the Street expectsBanks have been releasing loan loss reserves when defaults didn't arrive.
Baca lebih lajut »
Student Loan Forgiveness Still AliveWill your student loans get cancelled?
Baca lebih lajut »
Remote work will be a game changer for the developing worldInternational remote work has democratised opportunities for people to gain employment without being uprooted, as businesses look to tap into a reservoir of young - and cheap - global talent.
Baca lebih lajut »
Michigan governor orders urgent response to lead crisis in Benton HarborMichigan Gov. Whitmer orders a “whole-of-government” response to elevated levels of lead in tap water in Benton Harbor, vows to accelerate the replacement of its lead pipes.
Baca lebih lajut »