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QLT Announces Second Quarter Results for 2009
Date:7/28/2009

Increases 2009 Guidance for Eligard(R) Sales and Adjusted EBITDA

VANCOUVER, July 28 /PRNewswire-FirstCall/ - QLT Inc. (NASDAQ: QLTI; TSX: QLT) ("QLT" or the "Company") today reported financial results for the second quarter ended June 30, 2009. Unless specified otherwise, all amounts are in U.S. dollars and in accordance with U.S. GAAP.

"We are pleased to report another strong financial quarter, with robust Eligard(R) sales of $67.6 million, sequential Visudyne(R) sales growth of 4% compared to the first quarter, and adjusted EBITDA of $7.3 million," said Bob Butchofsky, President and Chief Executive Officer of QLT Inc. "After announcing the 12-month primary analysis results from the Phase II RADICAL study for Visudyne combination therapy, we are encouraged that Visudyne continues to be an important treatment option."

"We remain very focused on the development of our punctal plug program and continue to make innovative advancements to our proprietary platform. As separately announced, we released this morning data from our Phase II study investigating a high dose of latanaprost, 44 (micro)g, in addition to the retention rates of our proprietary plugs. We continue to strongly believe in the potential of our punctal plug delivery technology for broad use in ocular diseases."

2009 SECOND QUARTER FINANCIAL RESULTS

Worldwide Product Sales

Visudyne sales for the second quarter were $29.0 million, a decrease of 28.7% from sales in the second quarter of 2008. Sales in the U.S. were $8.6 million, down 15.2% from the prior-year second quarter, while sales outside the U.S. were $20.4 million, down 33.2% from the prior-year second quarter. The drop in Visudyne sales was primarily due to the approval and reimbursement in Europe of alternative therapeutics for age-related macular degeneration.'/>"/>

SOURCE QLT Inc.
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