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Coronavirus-induced stockpiling and advanced prescribing of medicines has resulted in generics companies across the world registering unprecedented growth during the first quarter of 2020. However, many companies predict sales will level off again in the next quarter and beyond. And as demand fluctuates following the COVID-19 outbreak, companies have started taking precautionary measures to avoid supply-chain disruptions.
Teligent has followed through with plans to condense its outstanding shares to raise their value and maintain a stock-exchange listing. Meanwhile, the company revealed a sizeable loss for the first quarter of this year, as it gave the latest on its warning letter-stricken facility in Buena, New Jersey.
Amid poor quarterly results, Teligent continues to focus on resolving a warning letter from the FDA, passing a pre-approval inspection of its new injectables manufacturing facility in Buena, New Jersey and managing cash flow under its new CEO.
Public Company Edition: The gene therapy firm’s IPO priced at $18 and ended its first day up 23.3% at $22.20 but fell to $21.50 when stocks recovered on 2 March. Also, RedHill raised $115m for product launches and Movantik purchase, and Avadel raised $65m to compete with Jazz.
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- Zelos Therapeutics Inc.