New Jersey-based specialty generic pharmaceutical company Teligent Inc., has acquired Alveda Pharmaceuticals Inc. for approximately $35 million. The deal gives Teligent a platform to expand its specialty generic pharmaceutical portfolio of products across Canada.

“We look forward to building on the successful business that the Alveda team has created over the last several years,” said Jason Grenfell-Gardner, president and chief executive officer, Teligent. ”We see great opportunities to integrate our R&D capabilities with the commercial and regulatory strengths of our new colleagues in Canada.”

Mike Bethell has been named general manager, Canada for Teligent. “Mike has been with Alveda from the beginning. He has played a significant role in driving the company’s growth, and we look forward to his leadership and market expertise to further build our business in Canada,” said Mr. Grenfell-Gardner.

Alveda had sales of approximately $12 million in fiscal 2015. Its pipeline includes 8 injectable products, 4 of which are under review by Health Canada. In addition, the business currently sells a portfolio of 17 molecules—36 injectable presentations—in the Canadian market.