Navigation Links
QLT announces first quarter 2008 Visudyne(R) sales
Date:4/21/2008

VANCOUVER, April 21 /PRNewswire-FirstCall/ - QLT Inc. (NASDAQ:QLTI; TSX:QLT) today reported that Novartis AG announced global sales of QLT's Visudyne(R) (verteporfin) product of US$36.5 million for the quarter ended March 31, 2008. This represents a decrease of 40.4% over sales in the first quarter of 2007. Sales in the U.S. were $9.3 million, up 10.6% from the prior-year first quarter, while sales outside the U.S. were $27.2 million, down 48.5% from the prior year. The drop in Visudyne sales was primarily due to the approval and reimbursement in Europe of alternative therapeutics for age-related macular degeneration.

QLT will release its full financial results on Friday, April 25, 2008, at 7:30 a.m. ET.

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 fields of ophthalmology and dermatology. In addition, we utilize three unique technology platforms, photodynamic therapy, Atrigel(R) and punctal plugs with drugs, to create products such as Visudyne and Eligard(R) and future product opportunities. For more information, visit our web site at http://www.qltinc.com.

Conference call information

QLT Inc. will hold an investor conference call to discuss first quarter 2008 results on Friday, April 25 at 8:30 a.m. ET (5:30 a.m. PT). The call will be broadcast live via the Internet at http://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 "#" sign.

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."

The Visudyne(R) sales figures in this press release are preliminary and unaudited and are not a complete disclosure of our quarterly financial results.

CONTACT: QLT Inc.: Vancouver, Canada, Therese Hayes, Telephone: (604) 707-7000 or 1-800-663-5486, Fax: (604) 707-7001; The Trout Group: New York, USA, Brandon Lewis, Telephone: (646) 378-2915 or Marcy Strickler, Telephone: (646) 378-2927


'/>"/>
SOURCE QLT Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Breckenridge Announces Approval of Generic Activella(R)
2. Accenx Technologies Announces New Leadership in Sales and Marketing Division
3. VNUS Medical Technologies, Inc. Announces the Hiring of Don Todd as Vice President of Marketing
4. CardiacAssist, Inc. Announces Five New TandemHeart Centers of Excellence
5. HeartWare Announces Move to an Expanded, Upgraded Manufacturing Facility
6. GHX Announces 2008 Best In Class Award Winners
7. AtriCure Announces Web Cast and Conference Call of First Quarter 2008 Financial Results
8. Huifeng Bio-Pharmaceutical (HFGB) Announces Participation in the 59th PHARMCHINA Expo
9. Zimmer Announces New Compliance Model
10. The Alliance for Lupus Research Announces 2008 Grantees
11. TeamStaff, Inc. Announces Results From Annual Meeting of Shareholders
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... May 26, 2016 , ... Georgia State University ... specialty academic programs. , Answering to the increasing demand for curricular specializations, the ... law, and environmental and land use law. ,  , “The demand for lawyers ...
(Date:5/26/2016)... ... May 26, 2016 , ... The Woodlands at John Knox ... new model of care for living and healing, celebrated its grand opening, today. The ... a Real Home provided by Empowered Staff. , “This is an incredibly fulfilling time ...
(Date:5/26/2016)... ... May 26, 2016 , ... MadgeTech will be showcasing its line of ... Warner, New Hampshire at the MadgeTech headquarters. With products sold in more than 100 ... government agencies, including NASA. , In 2012, NASA strategically set up 17 RHTemp101A ...
(Date:5/26/2016)... ... ... An April Gallup survey found rising health care costs to be the top ... Living (SHSL) may not share those same worries thanks to a new bundled ... while holding the line on increasing their contributions, including premiums, deductibles and the portions ...
(Date:5/26/2016)... ... May 26, 2016 , ... Leadership ... solutions, today announced the organization has earned its ISO 13485 certification, indicating the ... compliant with all rules and policies associated with ISO quality standard 13485. ...
Breaking Medicine News(10 mins):
(Date:5/27/2016)... , May 27, 2016 ... the Dario™ Diabetes Management Tool, today announced that the Company,s ... the Marcum MicroCap Conference being held June 1-2 in ... Invitational, being held June 7-9 in Los Angeles, ... will discuss recent corporate and operational milestones, including the U.S. ...
(Date:5/27/2016)... Amarantus BioScience Holdings, Inc. (OTCQX: AMBS), ... Neurology and Orphan Diseases, today announced that President & CEO ... conferences: SeeThru Equity MicroCap Conference   ... City , NY When: Tuesday, May 31 st ... Where: Grand Hyatt Hotel, 109 East 42 nd ...
(Date:5/26/2016)... TARE (Transarterial Radio-embolization) Using ... and Overall Decreased Use of Hospital Resource ... specialist healthcare company, has today announced the publication ... of ISPOR (International Society for Pharmacoeconomics and Outcomes ... using yttrium-90 glass microspheres is associated with cost ...
Breaking Medicine Technology: