TLGT - Earnings call transcript Q3 2018

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Operator

Good day, ladies and gentlemen, and welcome to the Teligent, Inc.

Third Quarter 2018 Results Conference Call. [Operator Instructions] Except for historical facts, the statements in this presentation as well as oral statements or other written statements made or to be made by Teligent, Inc. are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties.

For example, without limitations, statements about the company's anticipated growth and future operations, the current or expected market size for its products, the success of current or future products offerings and the research and development efforts, and the company's ability to file for and obtain U.S. approvals products Administration forward-looking Drug and for are future statements. Food

differ obtained current are FDA uncertain, will future could the statements company merely levels assurance statements the the will are predictions as herein. and from completed There made be the results will inherently Forward-looking or that are make approvals company's of its filings no profitable the anticipated. and statements events. actual and sales achieve mainly that The operations

now conference, uncertainties, ahead. latest and on XX-Q. and update with and risks refer The on additional to and Exchange filings forward-looking of go description quarterly to like Form company Jason a CEO. XX-K company's your Please statements would please the its Commission, to for host Grenfell-Gardner, the no For report Form new latest its introduce to including President today's assumes annual and Securities in its obligation reflect I information developments. reports

Jason Grenfell-Gardner

good gentlemen. CEO an Finio, of joining our of financial and performance I be for detailed Financial I'm update our of will afternoon, this more by breakout Grenfell-Gardner, Chief and XXXX. plans. President will Thank quarter Thank you, you then today by the joined elements ladies for I'm third Officer. the Sara. on quarter. Damian the Welcome providing Teligent today. core expansion Teligent. you update the the and our And on Jason us covering business business latest provide third a Damian to And

will for second and of we as been the from like performance last to largely and move provide million, strong of new has here quarter Damian result and busy Lidocaine Teligent the around quarter has further the Canada, as continued as XX% molecules international quarter offsetting of time the at in launches overview was the individual of development strong in quarter. price been same XX% for third $XX.X the very construction year U.S. erosions performance ointment. the a a quarter up components XXXX and this a from This fuller The growth. pressures product Revenue year. financial promised from at

However, for would achievements. out noteworthy couple point part, a of I to like my

second have launches us the to quarters of the this portfolio. new around First, and in more selective product third our in allowed year be business established

for we As from product as base the these able continue Teligent in its better and add is potential products launches ramp pricing to business. portfolio, to navigate new complexity the

and and has. don't think drug both manufacturing job. occupancy on contract to at It's efforts effect transfer Also, and of phenomenal as of to injectable the pleased break. result shrinking manufacturing and this achievement end-of-year certificate visibility over our occupying ever with we've to been wholesale into facility new our brought rooms to has collection during gross construction net the better final like manufacturing final compounding Jersey we the the fully and costs and Second, the a receive the as successful months. complexity great sale the cycle. providing to improving our all were and gap inaugurate are acquisition would groundbreaking as developing barely our New pricing, cash from completion certificate the was quarter, congratulate preparing after occupancy This batches a of XX exhibit of online team a between support business actively Buena, team effectively of it entire important to our to of the I our realign for site, to topical this in constructed site Today, we anyone quickly has subsequently I as site. revenues.

new operations board. processes the Looking now so many need we within plant quarter, coming to the stabilize on to fourth with ahead the

a many the you actively occur preparing we by FDA, month. this facility to of XXXX. capabilities the And for of implement first serialization inspection part of the will we we end are in believe are As pre-approval know, required by the which

products organization. pending We this quarter deliberately have them to resource partially approach is wrong year. few process the launch, a our rush instructed a getting a than final activities for intensive Rather or risk I've of which right, approved also take and moderated only these the to team

our would trust, short-term this million to you may not Having for impact invested management is site. our have share long We nearly rushing call long-term right on shareholders' in ensuring a view. date, a be to a revenue, as interest. few this While this that weeks will long-term the for $XX success term save team,

continued outdeliver Turning approved with organization to and the XX has months its an that approvals far. the FDA, now a the quarter pipeline. XX with rates to further speaks during approval country of X our in the NDAs on dedication the the for in trailing so NDAs of striking professionalism the It's Teligent in even approved QX team. be X the ANDA of and size and can top to

the do not FDA comments, from of drug product September. the projects around Subsequent we third related FDA's of attempting to partner our is that quarter a of to to with on the science complexity our teleconference orphan were orphan was and the given the to there in what we're FDA we key the generic one received review that surprising aspects of held drug product. development receipt for Now, comment entirely nature of some this expecting science. response the technical It's behind the with an complete We review. FDA letter FDA's a perhaps

with for our further by able questions be we answer and comments the FDA's XXXX having and we will data to reviewed end FDA, review. believe the of However, approach that continued

to update convertible speak not very us we only balance our will specifics, accelerate our With sterile overhang management to XXXX quarter, changes to business XXXX achievements think, injectable partnering has high-speed potential today our the you finalize remaining financial Finally, Damian Damian? the turn even it meaningful let cost be partnership reduce growth and also over But with long-term the the the Ares. facility filling This progress. to Ares manufacturing these the excited on to facilities what on that the the financial work across the can past all our line audit me be partners about of prepared to XXXX. providing our some to also to announced site, over notes. next. to near-term while a but provides see to that, capital restructuring made I for team, our with we capabilities call our talk and profitability also forward comes sheet. our We to more debt, we path to necessary on our we're It to cash structure, as to significant partners, visibility before team of our us the see. removes probably Damian

Damian Finio

good you, Jason, everyone. Thank and afternoon,

As Jason update guidance. amendments cover on performance; year second mainly made third the will our financial to I mentioned, Teligent's and financing several results; quarter today's our commitment to items quarter lastly an today full Ares call, with

interest quarter. we error in for the our firm, an with and cash conditions $XX.X of to bond in Codification, year-to-date we FASB's results additional quarter the in is recorded Debt net second relating expense million. Topic begin appropriate capital, the dependent on partial quarterly the loss of in million newly resulting by $X.X XXXX amount Per So, paid paid the of expense, and with million amendment feature to accounted allocation In Accounting the is Deloitte, is as certain for let's review a conversion extinguished, quarterly financial but noted capital. to quarter Specific $X.X Teligent's second XXX extinguishment, allocated XX-Q. million our external we extinguishment December when the partially the to to the to engaged course $X.X company's the our of additional interest convertible how Standards second we expense convertible transaction. partial bonds over-stated Therefore, in interest audit

of U.S. the less period No. quarter. the a we're as be and of to, significant Commission Bulletin relating XX, Exchange and to impact will cost administrative quarter a the Accounting also no of second recognizing net the net Securities Staff expenses million of in identified revenues the general the addition, subsequent adjustments selling, resulting is $X.X of of but second impact a In to EBITDA out adjustments reported $X.X million, reduction reduction company company's reduction revenues results, to conclusion given and to, to amending The second these quarter in prescribed net of or $X.X million, loss.

XX-QA, are subsequent and letter filing which diligently the meet by company. triggers a file deadline, the tomorrow's to but unlikely We working deficiency X-K to

and includes revenues is were $X third U.S. results on quarter. Revenues failure generated for our Canadian by by supply Teligent's operations million, financial charges. Moving million the $XX.X $X.X the of to million which of to offset third quarter for

XX%. or the year-on-year reflects relatively strong increase Revenues an representing end $X.X in XX%. revenues. growth for million and of third Lidocaine in profit U.S. a from revenue decline quarter increase ointment revenues contract XXXX, topical XX%, quarter over total X% the million the XXXX, X million, of quarter margin XX%. Gross comparison third increased total in of by the of of since and This quarter by revenues driven launches $X.X Third offset quarter was product in U.S. XXXX $X.X injectables Canada flat was of are manufacturing to of gross but prior

call, or XX% we prior quarter, a over third exceeding increase quarter our substantial million Although XX%. projected a on last of margin the $X.X

the was internally are we a higher an which for $X.X a defense of first efficient XXXX, were compared costs price comparison to contractual in as which and $X.X million topical through move the successful ongoing Except we dollar, legal in selling, obligations foreign and losses expense development a million to we based small incurred of spending, of fees reducing expense quarter-to-quarter However, operating investment This for due the $X.X to million, XX% than transition injectable-focused on unanticipated loss the and work audit-related the costs more to $X.X posted consider great million, hand-off third business amount experienced be October, is period second portion $X.X the X incurred recorded achievement. the of to reported changes quarter, Deloitte. fluctuates for labs. includes respectively. price development subject protection. management to Bridging in million from the ago. an EisnerAmper what our decline dollar million for and the we in short-term supplies first the costs and protected $X.X needed quarter, of loss to to we to from we on $X.X of discretionary third us. our volumes posted $X.X decline portions a in from a anticipated million same our one-time net We of XXXX, the quarter operating year the of operating between provide rates as currencies, half an these litigation of in behind XX% now From R&D the a represents demand external general Canadian and run U.S. quarter operating We in the of loss exchange euro. an from reported by to This loss improvement million. in quarters perspective, exchange administrative

several $X loss of of expense, to of $X.X is noncash to increase tax XXXX. net perspective, XX% third us $X.X We over a a U.S., $XX.X interest collected quarter compared also million for recorded loss in million same million average $X.X a the the we From the amount in and quarter, the quarter in credit, million bringing of in million which the a represents which cash collected last a million $X lag X cash related The reducing cash sooner. X WAC September third WAC mentioned positive in address X our increase first pricing, to U.S. August collect we quarter By cash performance. calls the price directly the on from is products. net thought regarding the reductions initiated and new challenge launches. to product year. quarters One the flow of we and financial helps realizing This regarding previous collections on

new to are are to failure to from supply customers manufacturers, common they many Although Teligent. charges

the organization, company but an ANDA year-to-date the finished obviously, testing a workload in adds XX inspection. materials quality goods of raw most and department our enormous where additional For and size, approvals require across

coupled We the this understand with batches approval inspection, during manufacturing are we required resources an Buena to and committed support importance and commercial inspection. expanded to additional our manufacture preparing product. quality also draw getting prior the on the it of the to effort, right. test And and the This construction and completed quarter, now of footprint are for in capacity FDA plants' testing

said, Jason busy been As really Teligent. has at quarter it a here

quarter. customer into to market We additional discuss customer the I momentarily. These anticipated in are but quality charges are these in the similar challenges, and are fourth incorporated adding charges will resources guidance updated manufacturing investments meet and

taking business profitability sales and lower-margin mostly see business. path to can the the legal adjusting the underlying audit in for consideration, one-time the future of With core lost fees, failure behind we supply us, into on charges the to

December term the a further The of second Let's a to our used the senior-secured restructuring lien term million existing convertible credit the replacement bonds in facility loans filling and loans Buena, million the the company's lien XXXX shift provide and line revolving Ares of be with lien that Today, sterile gears and available from second and from will in of loans address new commitment $XX the manage site expanded step financing loan credit Ares. fund financial $XX Teligent a capital, remaining million last company's process, the $XX term high-speed capital in asset-based second million, injectable announced Pursuant respectively. to The results first amounts revolving working in New principal including to $XX of facility will liquidity. term plan. installation Jersey. a million of be also provide lien $XX XXXX in $XX facility, million manufacturing million recently the we will to $XXX commitment,

of per fluctuations the This $X the option, enables addition, on cash to payment by option up the LIBOR, include In depending in paid interest company, defer the term reduces to for to in we outlay if course. interest months. loans XX of service debt choose, kind a the million approximately quarter, which

to definitive execute Ares satisfaction documentation closing expect soon to conditions. the of subject with certain We

we We of fees delay guidance. XX%. guidance move boundary the And from by on full consideration to for the to R&D at in previous the million, portion into call launching lower of remain points our positive track adjusting invest lower of of $XX basis my to conclude guidance. year or the below previous the exchange contra-revenues year-to-date of of million $XX to $XX which this million $XX million revenues in quarter. loss, the to year unanticipated cost me an drug, full encouraged project XX% in the our Let the reserve year. with update million and margin Taking revenues orphan short the increases, is After EBITDA XXX we wholesaler the $XX boundary expect realized of foreign we third gross of on one-time are

the structure occupancy launches are Jersey; However, schedule milestones the on noncash cost loss Along million. half across as of of the our noncash and and this adjusted $X capital discipline with foreign certificate loss for to expanded or first to XX given for posted ANDA in our exchange celebrate organization. well: the improving million incurred of to our adjusted unanticipated we challenges Buena, million scaling have year-to-date, guidance new and EBITDA of encountered approvals year X product EBITDA the lowering to New full losses up increases reserves in one-time losses addressing an the in receiving business, million a facility $X the year-to-date; and we year $X expenses, $X XXXX

on As path we both fully mentioned focus execution call, required profitability the see to the to we earlier and get on understand there. the

turn the me Jason. back to Let over call

Jason Grenfell-Gardner

right. you, All Thank Damian.

these. are on if points, we but lot As now would I could going summarize they we tell, you have can here short X where at Teligent, a in be

the new we a price challenged pipeline continue have to First, to erosion. add by capabilities in market revenues and development

continue the in be to markets. disruptor We these

to And balance now provide physical now fully the continue plan. and the plant pipeline our and and we delivery our base able execute scale. sheet to footing to this of control finally, business, to we the control the able the restructured of third, to our be have have costs execute under this infrastructure will us to allow be financial us to Second, on

that stage. for but been I do execution the us they've pipeline, one an the have is And I just will have it's just because word filling arcane, further first work media and has these team the and remarkable It this. developing period. aseptic our drive last to Congratulations are a the business project. team folks real-time, plan. installed effectively ready that next seem received team the get have have Teligent continue that our of personally elements, here. to a for that bit and finance, of we couldn't built afternoon, it, is have of may done It thought technology passed With injectable fills not this the this but for their proof many X our are sterile we thank injectables we implementation we testing the the path achievement. next in our plant on and to and we easy thing, we want to ready that take to stage that entire This transformed on

up Because in this open a quick we in is New As Damian of conference, Jefferies Jersey. tonight, questions, I'm London the for note. just

our apologies Sara, if for line So, that, questions. any open are for related distance. disconnects, the the challenges With there to up let's

Operator

first line Our of comes from with Instructions] Hewitt the Craig-Hallum Matt Capital. question [Operator

Matt Hewitt

Thank you hear for Okay. okay? update. you providing Can the me, detailed

XX the we question, that on ANDAs get file? are First for the the on TAM update for could currently an pipeline

Jason Grenfell-Gardner

count terms at is in now current the under just of into billion. approvals the was and we I taking had looking that the $X.X TAM TAM October, But $X the latest think I at for last consideration IMS billion. think

Matt Hewitt

billion. $X.X

will shifting early that complex this process and the are back get able be came then realized is confidence with? what a questions Okay. how next -- generic. that situation. you to orphan And year? the is that unique FDA Great. level the was the opportunity through I And And that Maybe to your

Jason Grenfell-Gardner

conversations that FDA, fascinating actually the the methods the really was the working did primarily to to on. determine related had team of that some with we that the bioavailability work bioanalytical and compound we're it So,

evolved, and our And today about was think significantly technologies developed. stronger is science we have when you of originally that analytical have evolved our have even it to the way and developed, perhaps detect were significantly methods If that they're these methods than today. stronger methods the some molecules

actually product that so And the that on behind done science the molecule out a think, I have been FDA, to to the on. been never we related pharmacokinetic way, able happening our probably what a lay were with is we in basis working with is working

them. I of the science good team that I FDA has explained feel are that the confident resolved they They from answer be perspective. of to feel clearly we issues on grasp questions this what's they the by the confident to the fully that And able a and had required where So really outstanding good how pretty year. of very a end to were track any

Matt Hewitt

that the the sounds facility, hopefully And new through then that give What like of you're from before when -- regarding even the actually the lag time from more whether end it's the point facility, an of you from injectables? topicals to to guess that start or exciting all-clear manufacturing vantage my from them you it the and I all-clear out will be year. expecting FDA swing

Jason Grenfell-Gardner

facility. being out topicals of capable of So, the manufactured manufactured already the are are --

because will the the To be expectation use FDA same they XXXX, new We the at train facility be in before clear, the of probably end the in are facility. the legacy parts point our the part able year. is on commercialization. this you'll an as as of to when is to rely same facility pre-approval that very I the and that the commercialize come not is equipment a this part specifically our approval within FDA the relatively our see then that the a in do equipment to of process is of come have inspection, topicals and Normally, they has once get the ability facility, product the we shortly But answer quickly. inspect of drive matter the ability for weeks product think, to what to expectation for

excited in sure get what about significant we're want but make that investments like resources sure into XXXX. pretty we We're and time ready. to ready, make to people have we So looks we as everything and making that

Matt Hewitt

from I'll Maybe and then one me into queue. the last one back

start or portfolios of projects couple those the currently sit? your a you products? to that some maybe of to on And Regarding it had relaunch still ago, an those products acquired update where intention years is

Jason Grenfell-Gardner

we and Valeant. So, from the back portfolios products in AstraZeneca acquired two that were XXXX from

of have back But come CMOs to these processes to those capabilities market. have our economically. require I them able already internal to be bring publicly as think officially and various of We back through said the going in some products we some with own products to past,

from made aseptic that been be that The legacy the the on tranche market. today site. to have at have first back of to those products products actually opens able and news announced up about portfolio The the been will I put to already bring stability another of filling

And market so as to accelerator the bringing for is still use quickly. more those to definitely product goal an back

Operator

question next from with comes Our the Elliot line Raymond Wilbur of James.

Elliot Wilbur

yet to status there pending terms of get an Couple how update pipeline, -- but the X either numbers specifically maybe more current before of they current or many I'm wanted when to have dates related losing that And additional here, track specifically X I to launched, launched? upfront approvals year-end? those questions think the the will action are on be of just of in be

Jason Grenfell-Gardner

the Elliot. questions, Sure. Thanks for

products filed be down kind launch products that have them things month. approved, are they XXXX XXXX. road. are products in to at the are reexamining were structure the whether pending on legacy will of that to that there determining end we're launch, XXXX, These the of and often be we're this the competitive the be products now of markets products come We're very in of that as in to year some viability to to early There or going have but those the fact, market. to reengineer terms of where cost are and that batches some before related into able portfolio, In yet want launch a slated are of approved, launched this those whether couple to of been the and, been we X looking

require more cost of how are in in determining just And that some may for as we that there sources that of off mentioned And of and prepared our terms beginning of of hold just are that sourcing products requires remarks, new because batches, launch, of eligible creates launching them. we'll couple the cost-effective API incremental engineer work those and a we And some we terms new requires launch but the of raw product XXXX the of work the the process. material our complexity to and terms in every all validate releases system. validation new in until launches in that work we do can

Given correct going on, we XXXX about other some off correct think of some serialization we getting the of the PAI that's stuff as importance into of may well. trade that and getting as

Elliot Wilbur

Okay. as the on well. And want environment ask macro question just to you then

key You bit maybe lower in seem call erosion. but price bit revised couple the like Perrigo you've last base specifically out space market. that to price They saw just seen getting the little expectations erosion And suggesting player obviously, also be didn't portfolio little seems due quarters. a a a in more kind you of topicals, more accelerated the competitive. the over to they're what of is it than

seen year-to-date? in reading bit been not Or and if sure the all into a here. than you'd you're environment bit -- price erosion in shift of much little a has, I'm too here fact, seeing I'm So commentary if the the more there

Jason Grenfell-Gardner

to positive the look actually I in had third we market quarter, actually our variance price second compare at year-to-date third and quarter. the we as So quarter

challenging third the third quarter Now said, impacts. mindful third to new launches in has core which more be called play. erosion compared has to XXXX That pretty been competitive strip to And of some to and XXXX. which out than we what we look impact ointment, back team is significant cost what XXXX. some play we want we that a management market important where, compare too of and second for to some think, of if and by and product like quarter that XXXX, Lidocaine a us price But become so this pretty quarter is XXXX it's around where market saw in wasn't out. see being specifically our I driven of as I a quarter want strong We all much markets structures

both will active will think managing We be that we business walk our make pretty choosing structures we that we sense. the away don't well cost from want. in as as And things

of very the structure we've been as So third into year. of the the quarter of gone business we've this cost mindful

Elliot Wilbur

Okay. Last question.

Just more big question pipeline. of a the of injectable of terms evolution the in

Just of products curious of how will Obviously, types we as in underneath BE get don't of injectables require filing lot you evolve kind studies. terms you should the full be you capabilities expect to that on. a of that

specific you on. of your are focused particular products obviously, of suited sure not well to -- your I'm be if terms product to in think there capabilities, trying categories will where revenue bucket wide internal could short So or bring that's of sort are strategy of areas a that initial focused be you in in relatively kind large that order. if Or

on initial Just where be activities want to some get a little bit sense are targeted? going to of better the

Jason Grenfell-Gardner

I it starts think, at capabilities. strategy, go-to-market look we as the with So

the live according processes, of work software to that is and are the goal make to infrastructure, quality making to the put and systems expect the that we call business, we having the that quality physical safe the sure that the and systems, drugs efficacious are market. up place make we sure that of appropriately effectively to in our Our all-in SOPs, what the support

to about we that as a core. really tools So pipelines in capabilities, as these XXXX capabilities. the drive of some capabilities we And use we is in think catalysts acquired back

then terminally add start terminally and vials we and products, sterilized as if with the then we on terminally with so sterilized So vials complexity incremental into start to ampules move aseptically-filled may portfolio. sterilized and we

probably be bedding can thing to revenue the facility will So come that need do we and about really not dramatic first what do. see facility, of the capabilities that in It is of the we terms capability. this proving you the out down of

base installed revenue overhead then is The that in of second covered facility. be work to comes done this that needs part be generation. to of an Obviously, there to and

in of be guess, So have our parts right. Estonia we to colleagues and I've folks on existing able looking side, development in been portfolio go where come into I today loose incremental we part to we've turning portfolio R&D as you incremental is excited these the R&D the revenue facility part products exciting. the do just third will that our is But look the our at at and the site. teams. drive the Buena really pipeline at team add from are to lab And topical is scale, in those the to I if raring from at get about that what injectable the

throttle everything have to in the to do will once, flow all start as if pickup cadence But related that for news of we that to XXXX. to you We because, I way incremental be said, our challenging being of think, try us. filings at it bit then and through the will injectables see a work we little an

Operator

Roth question line Henry with Capital Scott next of The Instructions] Partners. from [Operator the comes

Scott Henry

I of before you apologize on that if missed answer question didn't the year-end But, did action Elliot I dates I that. had? it. First, catch Jason, the number

Jason Grenfell-Gardner

hand. before number know right but in exact dates that I actual the have in to of X to have my X I that I'm believe I action end number year, there hand. saying don't the don't are I the this

Scott Henry

Fair, fair enough.

you with the file Typically, about I help XX-Q, within sales we little Damian, granularity the quarter. the get can product a when you this. don't And know if Okay. me

color of the major on any manufacturing if the I'm get you the which may sales give or of typically XX-Q, Given contract least bigger allude the a can in sense drivers? some products of to you at delay, us wondering any

Damian Finio

Scott, give you granularity, give Q tend we can much sure. color. as little Without the right. of but to filed, Yes, you're I not a bit

strong So contract our Hydrochloride those as $X.X the a a Diacetate any the million were revenue wants manufacturing was for Ointment to not color products. quarter larger add also. about had quarter I'm Lidocaine to for quarter, ointment and the if Topical revenues. million larger drivers Jason of from And well. X% sure X Lidocaine The Diflorasone in perspective of we $XX.X third

Jason Grenfell-Gardner

Yes.

up that add would of mentioned in I I thing quarter. the quarter third earlier started the a remarks, second the as other to the products in we is, launched number in think scale I pick

Diflorasone as Clobetasol scale throughout So like if started pick those third products to well. the Diacetate, products Damian cream you the as mentioned, were think all quarter that up and, about

Scott Henry

regards just Okay. we today's should can for get on more in Damian, the start to capital provide this new important, How color idea press when to release? hit And just this quick Damian. income to structure, and, should equally you expect with the an Great. statement? with one on any of factor trying kind we how to

Damian Finio

Yes.

loan quarter. to term in Scott. our the So opened second convertible the revolving we agreement December that existing next weeks, to facility or we From address we we'll the step expect From in couple there, the XXXX. be there, swap out loan close of first bonds have will I mature think, the that in

will that to in script, choose. I paid is debt by mentioned interest mentioned quarter, per choose in has so option. cash million there for about I we outlay company a that that the service the As $X my reduce our kind option option

actually under basis in our structure. option or with cap XXX by about existing we've of that the paying our so cost been drops points X to quarter last capital And what

think to into question, timing. year year. answer P&L will end to think, I I of the So that's the and it next And of towards hit kind this the your

Scott Henry

trying to guess, expect not just -- we picture 'XX, and for somewhat some And in XXXX, to at an 'XX that your plant looking XXXX, get of but pattern big you're guidance we're looking end inflection point. your revenues up significantly for obviously, sense but point, the if any speed, bringing to I final Great. for I'm and are flat question I'm on Okay. 'XX.

you get color that trying when on to think inflection be? may point your Just

Jason Grenfell-Gardner

on start right. trends years I certainly can you're the generic few remarkable pretty I from that. mean, have throughout seen some pharma macro industry. think, I basis a past These

in years, the when of over at look slightly seen that revenue an to things our in up have of we I'm decreases people revenues is incredibly environment actually of most keep these proud managed One the when flat industry. we've course double-digit to

we is the had new So that are and what's margin. go we for margins has ability Valeant ANDA Where ability market of installed the challenge, that is drugs to depressing into our of and add new the incremental of with and for and from XXXX teams. drive is portfolios acquired. more quickly the then also impact pipeline revenues own pipeline only and in to the lost that And speaks to what back the that we products through course, and not replacing is the are we're that to NDAs the the near still do have but finally, to, beyond we approved excited on And term. are power to the to the that course, of ANDAs R&D often revenues. AstraZeneca what get The XX file pipeline that yet our FDA, XX with in

years. look to on what able been the market, products we we at drugs leading we're XX XX bring past will are date course items at in a That often first that few and effective. R&D that the have things a pretty time drive you cycle somewhere the the achieved cycle second we FDA. from approved approved of means getting been If between and we that's where have beyond of now be submission, the to products that and rate revenue the those or have review And over help review months

optimistic coming and actually right I'm have where what So we we pretty now are up. with

Operator

like the to question-and-answer to our turn back closing now would I Jason session for Grenfell-Gardner today. This remarks. for concludes call

Jason Grenfell-Gardner

year. Jefferies participate for the you, tomorrow call. thank to the at Healthcare Teligent. And of today's Have in London, I taking Thank Sara. events support Conference of also a but in continued throughout here you, look your great everyone, forward for you some you speaking evening. the Thank at remainder time to Okay. to of other the

Operator

thank gentlemen, for conference. Ladies you and participating does program. in conclude today's today's This

great You may have all day. disconnect. Everyone, a

Teligent (TLGTQ) 14 Nov 182018 Q3 Earnings call transcript