Generic Drug Maker Teligent Files Bankruptcy, Plans Sale

Teligent Inc., a beleaguered generic drug maker, filed for court protection from creditors on Thursday with plans to sell itself.

The publicly traded company listed assets of as much as $100 million and liabilities of as much as $500 million in its bankruptcy petition. Buena, New Jersey-based Teligent manufactures injectable and topical prescription medicines, according to its website.

Teligent began looking to sell its assets before filing for bankruptcy and “is in ongoing discussions with several interested parties,” the company said in a statement. The manufacturer expects to close a sale of its whole business or ...