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:3/28/2017)... ... March 28, 2017 , ... The Radiology Business ... has begun to serve as its new executive director. Mr. Still was selected through ... Committee. , “Bob, as he is known to our members, has been a ...
(Date:3/28/2017)... , ... March 28, 2017 , ... With less than ... acne, access to quality care can be limited while the desire to conquer breakouts ... customized prescription acne care for every customer online, today released its inaugural survey on ...
(Date:3/28/2017)... , ... March 28, 2017 , ... ... patients desire to achieve the “perfect smile.” The National Association of Dental Laboratories ... as what dentists should be aware of when utilizing dental laboratories and technicians ...
(Date:3/28/2017)... ... March 28, 2017 , ... With expansion and efficiency in mind, Patten Seed ... The seed processing plant opened in Marshallville in 2006, and a bagging and shipping ... opportunity for transition of Patten Seed operations to the Middle Georgia location from their ...
(Date:3/28/2017)... ... ... that reveals the mystery of Kevin’s purpose. “A Prophets Bones” is the creation of published ... him that he had neglected to do, but this was from God and there was ... would have felt themselves to be special and better than others due to the fact ...
Breaking Medicine News(10 mins):
(Date:3/27/2017)... Summary This report provides all the ... partnering interests and activities since 2010. Description The Partnering ... into the partnering activity of one of the world,s leading ... prepared upon purchase to ensure inclusion of the most up ... will be delivered in PDF format within 1 working day ...
(Date:3/27/2017)... 27, 2017  Cryoport, Inc. (NASDAQ: CYRX, CYRXW) ("Cryoport" ... offer shares of common stock in an underwritten public ... with the Securities and Exchange Commission (the "SEC"). The ... there can be no assurance as to whether or ... the actual size or terms of the offering. Cryoport ...
(Date:3/27/2017)... Calif. , March 27, 2017  Sanderling ... acquired by Ethicon, a division of Johnson & ... System for the treatment of gastro-esophageal reflux disease ... sphincter augmentation (MSA) technology and the procedure is ... centers. Torax Medical was founded by ...
Breaking Medicine Technology: