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QLT announces agreement to sell Aczone(R) to Allergan for approximately US$150 million
Date:6/9/2008

unced that it had signed a sale and purchase agreement to sell the land and building comprising its corporate headquarters and an adjacent undeveloped parcel of land in Vancouver, British Columbia. Provided the closing conditions are removed within the time period provided under the sale and purchase agreement, closing of that transaction is expected to occur by mid-August.

About Aczone(R)

ACZONE is an aqueous topical gel containing 5% dapsone. Combining dapsone in QLT USA's proprietary Solvent Microparticulate (SMP(TM)) gel enables dapsone to be applied topically and safely. In two randomized double-blind, vehicle-controlled clinical studies in 3,000 acne patients, ACZONE Gel achieved statistically significant percent reduction in the number of acne lesions and better success rate on the Global Acne Assessment Score. The most common adverse events reported from controlled clinical trials include oiliness/peeling, dryness, and erythema. There were no significant differences in the adverse event rates between ACZONE Gel and vehicle control treated patients.

Aczone was originally approved by U.S. Food and Drug Administration (FDA) for sale on July, 2005 and subsequently by Health Canada in June, 2006 with similar label restrictions. The label required all patients to undergo G6PD screening and for those patients with this enzyme deficiency, regular blood monitoring was required during Aczone treatment. On March 17, 2008, the Company announced that the FDA removed the G6PD screening and monitoring requirements based on a Phase IV clinical trial in 56 safety-evaluable G6PD-deficient patients. During a six-month period, patients were treated with both Aczone and the Aczone-vehicle (control group) in a cross-over design. Data was analyzed by third party clinical experts in dermatology and hematology who concluded that no clinically meaningful changes in safety-related parameters were observed in the trial. On June 6, 2008, Health Canada similarly remo
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SOURCE QLT Inc.
Copyright©2008 PR Newswire.
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