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QLT Announces Fourth Quarter and Year End 2008 Results
Date:2/19/2009

Provides Guidance for 2009

VANCOUVER, Feb. 19 /PRNewswire-FirstCall/ - QLT Inc. (NASDAQ: QLTI; TSX: QLT) ("QLT" or the "Company") today reported its financial results for the fourth quarter ending December 31, 2008 and full year 2008 as well as issued its guidance for 2009. Unless specified otherwise, all amounts are in U.S. dollars and in accordance with U.S. GAAP.

"2008 was a pivotal year for us as we concluded a series of corporate development activities, including divesting the majority of our non-core assets, retiring our convertible debt, and launching a Dutch tender offer," said Bob Butchofsky, President and Chief Executive Officer of QLT. "We are excited to embark on our next chapter as an ophthalmology-focused, development driven company. While we feel comfortable including Eligard(R) in our guidance for 2009, there is still the possibility that we will receive an attractive offer for the asset and divest Eligard at some point in the future. This will be a significant year for our punctal plug platform and we plan to be in a position to wrap up Phase II development by the end of this year."

2008 FINANCIAL RESULTS

Discontinued Operations Reporting

We have not sold our Eligard business as originally planned and announced in January 2008. Therefore, in accordance with Financial Accounting Standard 144, the Eligard operations no longer qualify to be reported in discontinued operations. Our statement of operations for 2008 includes the results of Eligard within continuing operations, while financial results related to Aczone(R) and Atrigel(R) are reported within discontinued operations. Prior year comparative results conform to this presentation, and we expect to continue reporting our results this way in 2009.

Worldwide Product Sales

As previously announced, global Visudyne(R) sales for the fourth quarter were $30.6 million, a decrease of 32.7% over sales in the fourth quarter of 2007. Sales in the U.S. of $8.0 million were down 20.0% from the prior-year fourth quarter, while sales outside the U.S. of $22.6 million were down 36.3%. For the full year 2008, worldwide Visudyne sales were $141.9 million, 34.0% lower than in 2007, as U.S. sales declined 4.1% and non-U.S. sales declined 40.4%. The drop in Visudyne sales was primarily due to the approval and reimbursement in Europe of alternative therapeutics for age-related macular degeneration.

Worldwide Eligard sales in the fourth quarter were $59.4 million, an increase of 23.6% over the fourth quarter of 2007. U.S. sales of $20.4 million were up 16.8% from the fourth quarter of 2007, while sales outside the U.S. increased 27.5% to $39.1 million. For the full year 2008, Eligard sales were $224.8 million, up 24.2% from the prior year, as U.S. sales of $76.7 million grew 2.3% and non-U.S. sales of $148.1 million were up 39.8%.

QLT Revenues

For the fourth quarter, total revenue of $39.0 million was up 26.3% from the fourth quarter of 2007, as the increase in Eligard revenue more than offset a drop in Visudyne revenue. For the fourth quarter, revenue from Visudyne of $11.9 million fell 12.7% while revenue related to Eligard (royalty and product revenue combined) of $24.0 million was up 41.4%. The 2008 fourth quarter revenue also included a one-time milestone of $2.8 million for achieving annual sales of Eligard in Europe of over $100 million. For the full year 2008, total revenues of $124.1 million were down 2.7% from the prior year due primarily to the decline in Visudyne revenue, which more than offset growth in Eligard revenue. Revenue from Visudyne for the full year was $48.3 million, down 28.7% from $67.7 million in the prior year, while royalty and product revenue related to Eligard was $71.5 million, up 22.3% from the prior year.

QLT's share of profit from Visudyne sales in the fourth quarter was 25.3%, up from 12.9% in Q4 2007. However, the 2007 results included approximately $6 million of expense related to provisions for excess inventory taken in the fourth quarter of that year by both QLT and Novartis. Excluding this expense, the profit share in the fourth quarter of 2007 would have been 20.1%. For the full year 2008, QLT's share of profit from Visudyne sales was 23.1%, up from 20.7% in 2007 (or 22.2% excluding the provisions for excess inventory). The increase in profitability for both the fourth quarter and the full year occurred as the reduction in Visudyne expenses exceeded the decline in sales.

QLT Expenses

For the fourth quarter of 2008, expenditures for Research and Development (R&D) were $6.5 million compared to $12.0 million in the same period of 2007. For the full year, expenditures for R&D were $29.6 million, down from $38.6 million in 2007 primarily due to decreased spending on preclinical research and savings from restructuring, which more than offset the increase in spending on our punctal plug delivery system.

For the fourth quarter of 2008, Selling General and Administrative (SG&A) expense was $4.6 million, down from $6.9 million in the fourth quarter of 2007. For the full year, SG&A expenditures of $21.7 million were down from $25.8 million in 2007, primarily due to savings realized from our restructuring activities during the year.

Gains on Asset Divestments

QLT reported gains on the three asset divestments that occurred during 2008. The gain on the sale of the building and land of $21.7 million was included as a separate line item within continuing operations. The combined pre-tax gains on the divestitures of Aczone and Atrigel of $134.9 million were reported as part of income from discontinued operations.

Operating Income / Loss

Operating income for the fourth quarter was $11.4 million, compared to a loss of $48.1 million in the prior year quarter. The 2007 loss was driven by a charge of $42.9 million for the purchase of in-process R&D related to the acquisition of ForSight Newco II, Inc. (and our punctal plug delivery system) in October 2007. The improvement in the 2008 operating results was driven by increased revenue from Eligard and lower spending on R&D and SG&A. Full year operating income for 2008 was $26.6 million, compared to an operating loss in 2007 of $144.3 million. The income in 2008 included the gain of $21.7 million on the sale of the building and land, which was partially offset by a $10.2 million restructuring charge. Excluding these two items, 2008 operating profit would have been $15.1 million. The operating loss in 2007 was due primarily to a charge of $110.2 million related to the Massachusetts Eye and Ear Infirmary (MEEI) judgment as well as the charge for purchase of in-process R&D.

Earnings Per Share (EPS) / Loss Per Share

QLT reported EPS of $0.08 in the fourth quarter, compared to a loss per share of $0.62 in the fourth quarter of 2007. The loss per share in the fourth quarter of 2007 was driven by the charge for purchase of in-process R&D. For the full year 2008, EPS of $1.81 compared to a loss per share of $1.47 in 2007. The earnings in 2008 were driven by the gains on asset divestments, while the loss for the full year 2007 was primarily due to charges for the MEEI judgment and the purchase of in-process R&D.

In the fourth quarter of 2008, non-GAAP EPS was $0.07, while for the full year 2008 non-GAAP EPS was $0.01. Key items that were excluded in the determination of non-GAAP EPS include: (i) gains on asset divestments, (ii) licensing and milestone revenue, (iii) recognition of the QLT USA, Inc. (a wholly-owned subsidiary of QLT) tax asset, (iv) restructuring charges, (v) inventory charges, and (vi) stock compensation expense. The full reconciliations of GAAP to non-GAAP EPS for the fourth quarter and full year are provided in Exhibits 1 and 2.

Cash

The Company's consolidated cash balance at December 31, 2008 consisted of $165.4 million of cash and cash equivalents and $124.6 million of restricted cash, which represents a bond posted to stay execution of the MEEI judgment. The December 31, 2008 cash balance does not reflect payment for the $50 million modified Dutch auction tender offer completed in 2009. During 2008, the Company redeemed $172.5 million of convertible notes, resulting in no long term debt at year end.

2009 GUIDANCE

QLT is projecting that Visudyne sales will range from $90 million to $110 million in 2009 and expects that its share of profit from Visudyne sales will be approximately 24-26% in 2009. Eligard sales for the full year are expected to be $220 million to $240 million. Combined R&D and SG&A expenses are expected to be approximately flat to 2008, with R&D expense in 2009 of $30 million to $33 million and SG&A expense of $18 million to $21 million. Adjusted EBITDA (measured as operating income plus depreciation and stock compensation expense less licensing and milestone revenue) is expected to be $10 million to $15 million for 2009, assuming Eligard is not divested during the year.

RECENT COMPANY HIGHLIGHTS

    -   Initiated a Phase I safety study in healthy adults of QLT091001, an
        orally administered synthetic retinoid replacement therapy for 11-
        cis-retinal. The drug is being developed for the potential treatment
        of Leber's Congenital Amaurosis, an inherited progressive retinal
        degenerative disease that leads to retinal dysfunction and visual
        impairment beginning at birth.

    -   Announced encouraging data from the CORE study, a Phase II trial
        being conducted by QLT's wholly-owned subsidiary, QLT Plug Delivery,
        Inc., to evaluate the safety and efficacy of its Latanoprost Punctal
        Plug Delivery System for the treatment of open angle glaucoma and
        ocular hypertension.

    -   Announced six-month results from an interim analysis for the Phase II
        RADICAL study (Reduced Fluence Visudyne Anti-VEGF-Dexamethasone In
        Combination for AMD Lesions). The primary endpoint results at 12
        months are expected in the first half of 2009.

    -   Initiated and announced the final results of a modified Dutch auction
        tender offer whereby QLT accepted for purchase and cancellation
        20,000,000 of its common shares at a price of $2.50 per share, for a
        total cost of $50 million.

    -   Announced that the United States Court of Appeals for the First
        Circuit affirmed the judgment of the United States District Court for
        the District of Massachusetts in the lawsuit brought against QLT by
        MEEI in connection with events related to U.S. patent # 5,798,349
        and certain of MEEI's research results related to QLT's Visudyne. The
        Court of Appeals upheld the liability and damages aspects of the
        District Court judgment in which QLT was found liable under
        Massachusetts state law for unfair trade practices and ordered to pay
        to MEEI damages of 3.01% on past, present and future worldwide net
        sales of Visudyne plus interest and certain legal fees. QLT
        subsequently filed a petition for rehearing with respect to the
        foreign sales portion of that damages award.

    -   Announced that QLT was the defendant in a lawsuit filed by
        Massachusetts General Hospital (MGH) in Massachusetts state court.
        MGH alleges that it entered into a written agreement with QLT that
        requires QLT to pay MGH the same royalties that it pays MEEI on sales
        of Visudyne, as determined by the District Court and affirmed by the
        Court of Appeals.

Conference call information

QLT Inc. will hold an investor conference call to discuss 2008 results on Thursday, February 19, 2009 at 8:30 a.m. ET (5:30 a.m. PT). The call will be broadcast live via the Internet at www.qltinc.com. To participate on the call, please dial 1-800-319-4610 (North America) or 604-638-5340 (International) before 8:30 a.m. ET. A replay of the call will be available via the Internet and also via telephone at 1-800-319-6413 (North America) or 604-638-9010 (International), access code 7157, followed by the number sign.

About QLT

QLT Inc. is a global biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapies. Our research and development efforts are focused on pharmaceutical products in the field of ophthalmology. In addition, we utilize three unique technology platforms, photodynamic therapy, Atrigel(R) and punctal plugs with drugs, to create products such as Visudyne(R) and Eligard(R) and future product opportunities. For more information, visit our web site at www.qltinc.com.

    QLT Inc.--Financial Highlights
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    -----------------------------------------------
    (In thousands of United         Three months ended         Year ended
     States dollars, except per         December 31,          December 31,
     share information)                2008     2007         2008     2007
    -------------------------------------------------------------------------
    (Unaudited)
    Revenues
      Net product revenue         $  24,795  $  22,087  $  86,182  $  95,857
      Net royalties                  11,013      8,431     33,643     30,362
      Contract R&D                        -          -         10          -
      Licensing and milestones        3,202        367      4,305      1,387
    -------------------------------------------------------------------------
                                     39,010     30,885    124,140    127,606
    -------------------------------------------------------------------------
    Costs and expenses
      Cost of sales                  15,223     14,524     49,675     45,396
      Accrued cost of sales
       re: MEEI(1)                      917      1,369      4,249      2,830
      Research and development        6,519     11,976     29,568     38,586
      Selling, general and
       administrative                 4,579      6,946     21,705     25,794
      Depreciation                      382      1,418      2,947      5,330
      Litigation                          -          -        864    110,162
      Gain on sale of long-lived
       assets                          (377)         -    (21,666)         -
      Purchase of in-process
       research and
       development                        -     42,865          -     42,865
      Restructuring charge
       (recovery)                       318        (97)    10,162        938
    -------------------------------------------------------------------------
                                     27,561     79,001     97,504    271,901
    -------------------------------------------------------------------------
    Operating income (loss)          11,449    (48,116)    26,636   (144,295)

    Investment and other income
     (expense)
      Net foreign exchange gains
       (losses)                         702       (458)       643     (1,743)
      Interest income                 1,459      3,114      7,249     14,278
      Interest expense               (1,530)    (3,061)   (10,339)    (9,026)
      Other                               4        385        290      4,813
    -------------------------------------------------------------------------
                                        635        (20)    (2,157)     8,322
    -------------------------------------------------------------------------
    Income (loss) from continuing
     operations before income
     taxes                           12,084    (48,136)    24,479   (135,973)

    Income taxes                     (6,168)     3,109     (9,527)    32,647

    -------------------------------------------------------------------------
    Income (loss) from continuing
     operations                       5,916    (45,027)    14,952   (103,326)
    -------------------------------------------------------------------------
    (Loss) income from discontinued
     operations, net of income
     taxes                              (42)    (1,520)   119,939     (6,671)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Net income (loss)             $   5,874  $ (46,547) $ 134,891  $(109,997)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Basic net income (loss) per
     common share
      Continuing operations       $    0.08  $   (0.60) $    0.20  $   (1.38)
      Discontinued operations         (0.00)     (0.02)      1.61      (0.09)
    -------------------------------------------------------------------------
      Net income (loss)           $    0.08  $   (0.62) $    1.81  $   (1.47)

    Diluted net income (loss) per
     common share
      Continuing operations       $    0.08  $   (0.60) $    0.20  $   (1.38)
      Discontinued operations         (0.00)     (0.02)      1.61      (0.09)
    -------------------------------------------------------------------------
      Net income (loss)           $    0.08  $   (0.62) $    1.81  $   (1.47)

    Weighted average number of
     common shares outstanding
     (in thousands)
      Basic                          74,620     74,620     74,620     74,907
      Diluted                        74,620     74,620     74,620     74,907
    -------------------------------------------------------------------------
    (1) Amount accrued on Visudyne sales since June 30, 2007 pursuant to
        judgment rendered in the MEEI litigation.



    QLT Inc.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    --------------------------------------
    (In accordance with United States generally accepted accounting
     principles)

                                                   December 31,  December 31,
    (In thousands of United States dollars)             2008          2007
    -------------------------------------------------------------------------
    (Unaudited)
    ASSETS
    Current assets
      Cash and cash equivalents                      $ 165,395     $ 126,731
      Restricted cash                                  124,578       123,495
      Accounts receivable                               31,096        25,257
      Income taxes receivable                           50,899        48,421
      Inventories                                       11,633        18,511
      Current portion of deferred income tax assets      9,835        19,392
      Other                                             11,144        11,930
    -------------------------------------------------------------------------
                                                       404,580       373,737
    -------------------------------------------------------------------------

    Property, plant and equipment                        3,184        10,017
    Assets held for sale                                     -        42,732
    Deferred income tax assets                          30,216         7,041
    Goodwill                                            23,145        94,903
    Mortgage receivable                                  9,834             -
    Long-term inventories and other assets              20,799        20,557
    -------------------------------------------------------------------------
                                                     $ 491,758     $ 548,987
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    LIABILITIES
    Current liabilities
      Accounts payable                               $   9,115     $   8,486
      Accrued restructuring charge                         726           153
      Accrued liabilities                              129,512       123,294
      Convertible debt                                       -       172,500
      Current portion of deferred revenue                5,673         8,431
      Current portion of deferred income tax
       liabilities                                           -        11,291
    -------------------------------------------------------------------------
                                                       145,026       324,155

    Uncertain tax position liabilities                   2,033         2,070
    Deferred revenue                                     1,469         2,939
    -------------------------------------------------------------------------
                                                       148,528       329,164
    -------------------------------------------------------------------------

    SHAREHOLDERS' EQUITY
    Common shares                                      702,221       702,221
    Additional paid in capital                         123,367       119,779
    Accumulated deficit                               (579,564)     (714,455)
    Accumulated other comprehensive income              97,206       112,278
    -------------------------------------------------------------------------
                                                       343,230       219,823
    -------------------------------------------------------------------------
                                                     $ 491,758     $ 548,987
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    As at December 31, 2008, there were 74,620,328 issued and outstanding
common shares and 5,341,694 outstanding stock options.



    QLT Inc.
    CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
    -----------------------------------------------
    2008 Fourth Quarter Reconciliation of GAAP Earnings to
    Adjusted Non-GAAP Earnings                                     Exhibit 1
    -------------------------------------------------------------------------
                            Three months                        Three months
                                   ended                               ended
    (In millions of United   December 31,                        December 31,
     States dollars, except         2008                                2008
     per share information)         GAAP       Adjustments        Non-GAAP(1)
    -------------------------------------------------------------------------
    (Unaudited)
    Revenues
      Net product revenue       $   24.8          $      -          $   24.8
      Net royalties                 11.0                 -              11.0
      Licensing and milestones       3.2              (3.2) (a)            -
    -------------------------------------------------------------------------
                                    39.0              (3.2)             35.8
    -------------------------------------------------------------------------
    Cost and expenses
      Cost of sales                (15.2)              0.0  (b)        (15.2)
      Accrued cost of sales
       re: MEEI                     (0.9)                -              (0.9)
      Research and development      (6.5)              0.2  (b)         (6.3)
      Selling, general and
       administrative               (4.6)              0.3  (b)         (4.3)
      Depreciation                  (0.4)                -              (0.4)
      Litigation                       -                 -                 -
      Gain on sale of long-lived
       assets                        0.4              (0.4) (c)            -
      Restructuring                 (0.3)              0.3  (d)            -
    -------------------------------------------------------------------------
                                   (27.6)              0.5             (27.1)
    -------------------------------------------------------------------------

    Operating income                11.4              (2.7)              8.7

    Investment and other income
     (expense)
      Net foreign exchange gain      0.7                 -               0.7
      Interest income                1.5                 -               1.5
      Interest expense              (1.5)                -              (1.5)
      Other                          0.0                 -               0.0
    -------------------------------------------------------------------------
                                     0.6                 -               0.6
    -------------------------------------------------------------------------

    Income from continuing
     operations before
     income taxes                   12.1              (2.7)              9.4

      Provision for income taxes    (6.2)              1.8  (e)         (4.4)

    -------------------------------------------------------------------------
    Income from continuing
     operations                      5.9              (0.9)              5.0
    -------------------------------------------------------------------------

    (Loss) income from discontinued
     operations, net of income
     taxes                          (0.0)              0.0  (f)          0.0
    -------------------------------------------------------------------------
    Net income                  $    5.9          $   (0.9)         $    5.0
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Basic net income (loss) per
     common share:
      Continuing operations     $   0.08                            $   0.07
      Discontinued operations      (0.00)                               0.00
      -----------------------------------------------------------------------
      Net income                $   0.08                            $   0.07

    Diluted net income (loss)
     per common share:
      Continuing operations     $   0.08                            $   0.07
      Discontinued operations      (0.00)                               0.00
      -----------------------------------------------------------------------
      Net income                $   0.08                            $   0.07

    Weighted average number of
     common shares outstanding
     (in millions)

      Basic                         74.6                                74.6
      Diluted                       74.6                                74.6

    Adjustments:
    ------------
    (a) Remove licensing and milestone revenue.
    (b) Remove stock based compensation.
    (c) Remove gain on sale of long-lived assets.
    (d) Remove restructuring charge.
    (e) Remove income tax impact of the above adjustments.
    (f) Remove gain on sale of assets, net of tax.

    (1) The adjusted non-GAAP financial measures have no standardized meaning
        under GAAP and are not comparable between companies. Management
        believes that the adjusted non-GAAP financial measures are useful for
        the purpose of financial analysis. Management uses these measures
        internally to evaluate the Company's operating performance before
        items that are considered by management to be outside of the
        Company's core operating results.



    QLT Inc.
    CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
    -----------------------------------------------
    2008 Reconciliation of GAAP Earnings to
    Adjusted Non-GAAP Earnings                                     Exhibit 2
    -------------------------------------------------------------------------
                              Year ended                          Year ended
    (In millions of United   December 31,                        December 31,
     States dollars, except          2008                                2008
     per share information)         GAAP   Adjustments            Non-GAAP(1)
    -------------------------------------------------------------------------
    (Unaudited)
    Revenues
      Net product revenue       $   86.2   $   (0.4) (a)            $   85.7
      Net royalties                 33.6          -                     33.6
      Licensing and milestones       4.3       (4.3) (b)                   -
    -------------------------------------------------------------------------
                                   124.1       (4.7)                   119.4
    -------------------------------------------------------------------------

    Cost and expenses
      Cost of sales                (49.7)       1.6  (a) (c)           (48.1)
      Accrued cost of sales
       re: MEEI                     (4.2)         -                     (4.2)
      Research and development     (29.6)       1.1  (c)               (28.5)
      Selling, general and
       administrative              (21.7)       1.6  (c)               (20.1)
      Depreciation                  (2.9)       0.2  (d)                (2.8)
      Litigation                    (0.9)       0.9  (e)                   -
      Gain on sale of long-
       lived assets                 21.7      (21.7) (f)                   -
      Restructuring                (10.1)      10.1  (g)                   -
    -------------------------------------------------------------------------
                                   (97.5)      (6.2)                  (103.7)
    -------------------------------------------------------------------------

    Operating income                26.6      (10.9)                    15.7

    Investment and other
     income (expense)
      Net foreign exchange
       gains                         0.6          -                      0.6
      Interest income                7.2          -                      7.2
      Interest expense             (10.3)         -                    (10.3)
      Other                          0.3          -                      0.3
    -------------------------------------------------------------------------
                                    (2.2)         -                     (2.2)
    -------------------------------------------------------------------------

    Income from continuing
     operations before income
     taxes                          24.5      (10.9)                    13.5

      Provision for income
       taxes                        (9.5)      (0.6) (h)               (10.2)

    -------------------------------------------------------------------------
    Income from continuing
     operations                     15.0      (11.6)                     3.4
    -------------------------------------------------------------------------

    Income (loss) from
     discontinued operations,
     net of income taxes           119.9     (122.7) (a) (c) (i) (j)    (2.8)
    -------------------------------------------------------------------------
    Net income                  $  134.9   $ (134.3)                $    0.6
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Basic net income (loss)
     per common share:
      Continuing operations     $   0.20                            $   0.05
      Discontinued operations       1.61                               (0.04)
      -----------------------------------------------------------------------
      Net income                $   1.81                            $   0.01

    Diluted net income
     (loss) per common
     share:
      Continuing operations     $   0.20                            $   0.05
      Discontinued
       operations                   1.61                               (0.04)
      -----------------------------------------------------------------------
      Net income                $   1.81                            $   0.01

    Weighted average number
     of common shares
     outstanding (in millions)
      Basic                         74.6                                74.6
      Diluted                       74.6                                74.6

    Adjustments:
    ------------
    (a) Remove inventory write-down.    (g) Remove restructuring charge.
    (b) Remove licensing and milestone  (h) Remove income tax impact of the
        revenue.                            above adjustments.
    (c) Remove stock based              (i) Remove gain on sale of assets,
        compensation.                       net of tax.
    (d) Remove impairment of fixed      (j) Remove recognition of tax asset
        assets.                             related to reversal of valuation
    (e) Remove litigation expense.          allowance.
    (f) Remove gain on sale of long-
        lived assets.

    (1) The adjusted non-GAAP financial measures have no standardized meaning
        under GAAP and are not comparable between companies. Management
        believes that the adjusted non-GAAP financial measures are useful for
        the purpose of financial analysis. Management uses these measures
        internally to evaluate the Company's operating performance before
        items that are considered by management to be outside of the
        Company's core operating results.

    A full explanation of how QLT determines and recognizes revenue resulting
from Visudyne sales is contained in the financial statements contained in the
periodic reports on Forms 10-Q and 10-K, under the heading "Significant
Accounting Policies - Revenue Recognition." Visudyne sales are product sales
by Novartis under its agreement with QLT.

    QLT Plug Delivery, Inc. is a wholly-owned subsidiary of QLT Inc.
    Atrigel is a registered trademark of QLT USA, Inc.
    Visudyne is a registered trademark of Novartis AG.
    Eligard is a registered trademark of Sanofi-aventis.

QLT Inc. is listed on The NASDAQ Stock Market under the trading symbol "QLTI" and on The Toronto Stock Exchange under the trading symbol "QLT."

Certain statements in this press release constitute "forward looking statements" of QLT within the meaning of the Private Securities Litigation Reform Act of 1995 and constitute "forward looking information" within the meaning of applicable Canadian securities laws. Forward looking statements include, but are not limited to: our plans to divest our Eligard asset; our expectations for the development of our punctal plug platform; our expectations for 2009 Visudyne sales and our share of profit from Visudyne sales; our expectations for 2009 Eligard sales; our expectations for 2009 R&D and SG&A expenses and 2009 EBIDTA; our expectations for timing to receive the primary endpoint results relating to our Visudyne RADICAL study; and statements which contain language such as: "assuming," "prospects," "future," "projects," "believes," "expects" and "outlook." Forward-looking statements are predictions only which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed in such statements. Many such risks, uncertainties and other factors are taken into account as part of our assumptions underlying these forward-looking statements and include, among others, the following: the Company's future operating results are uncertain and likely to fluctuate; our ability to successfully complete the sale of our Eligard asset at an acceptable price and the time period necessary to complete such sale are uncertain; uncertainties relating to the timing and results of the clinical development and commercialization of our products and technologies (including Visudyne and our punctal plug technology) and the associated costs of these programs; the timing, expense and uncertainty associated with the regulatory approval process for products; uncertainties regarding the impact of competitive products and pricing; risks and uncertainties associated with the safety and effectiveness of our technology; risks and uncertainties related to the scope, validity, and enforceability of our intellectual property rights and the impact of patents and other intellectual property of third parties; and general economic conditions and other factors described in detail in QLT's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Forward looking statements are based on the current expectations of QLT and QLT does not assume any obligation to update such information to reflect later events or developments except as required by law.


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(Date:12/9/2016)... , ... December 09, 2016 , ... ... at The Pierre Hotel in New York, NY, on December 3rd, to benefit ... and physicians attended the annual event, which raised over $1 million - the ...
(Date:12/9/2016)... ... December 09, 2016 , ... The Pennsylvania Athletic Trainers’ Society ... the summer of 2016. The program was made possible by a Pennsylvania Department ... of Health and Human Services Administration. The broadcast, Use Your Head: Properly ...
(Date:12/8/2016)... ... December 08, 2016 , ... After enjoying ... opened registration today for its 33rd Annual Issues & Research Conference, March ... The theme of the conference is “Persistent Challenges and New Opportunities: Using Research ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... a Property owned by an affiliate of Seavest, has won a prestigious national ... Southern Chester County ambulatory care center (ACC) was named “Best New Development, MOBs ...
(Date:12/8/2016)... ... December 08, 2016 , ... With the increasing demand for dental ... Your Mouth?” (WIYM) campaign to inform dentists and patients about the safety issues related ... and prosthetic market in the U.S. is projected to reach $6.4 billion in 2018 ...
Breaking Medicine News(10 mins):
(Date:12/9/2016)... Research and Markets has announced the addition of the "Global ... ... market to grow at a CAGR of 6.83% during the period ... growth prospects of the global travel vaccines market for 2016-2020. To ... the sales of various vaccines administered to actively immunize meningococcal disease, ...
(Date:12/9/2016)... 2016  Axovant Sciences Ltd. (NYSE: ... on the treatment of dementia, today announced a ... 2b trial evaluating treatment with intepirdine (RVT-101), combined ... plus placebo in people with mild-to-moderate Alzheimer,s disease. ... to treatment was associated with reduced progression in ...
(Date:12/8/2016)... , Dec. 8, 2016 IRIDEX Corporation (NASDAQ: ... newly issued shares of common stock, $0.01 par value (the ... underwritten public offering.  The final terms of the Offering will ... pricing, and there can be no assurance as to whether ... expects to use the net proceeds it will receive from ...
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