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:1/16/2017)... (PRWEB) , ... January 16, 2017 , ... San Francisco ... iTero Element, the latest in 3-D scanning device which is capable of taking digital ... latest advances in dentistry, such as CAD CAM restorations , in terms of ...
(Date:1/15/2017)... ... ... In this role, Courtney will be responsible for developing new business initiatives ... mark. This certification program was created by ASL and the nonprofit Asthma and Allergy ... for the 60+ million people living in the U.S. with asthma and allergies. Courtney ...
(Date:1/15/2017)... ... January 15, 2017 , ... Accreditation Commission for ... for its specialty care services. Albertsons Companies is the largest national food ... for pharmacy patients. , Accreditation by ACHC reflects Albertsons Companies’ dedication and commitment ...
(Date:1/15/2017)... ... January 14, 2017 , ... Wondering where to go ... delivered straight to your door for a romantic, lobster feast in the comfort of ... for Valentine's Day. The dinners will be featured until February 15th, 2017. , ...
(Date:1/14/2017)... ... January 14, 2017 , ... ... among their expanding line of activated charcoal products. With more and more people ... categorizing their products according to how they cater to specific needs. , Moody ...
Breaking Medicine News(10 mins):
(Date:1/16/2017)... India , January 16, 2017 ... Market Research, titled, "Sterilization Technologies Market by Type and ... the global sterilization technologies market is expected to reach ... growing at a CAGR of 5.8% from 2016 to ... market in 2015, with more than half share, in ...
(Date:1/16/2017)... January 16, 2017 Bill is an internationally ... general management and leadership positions with global medical device companies, including ... track record of launching new products and building successful businesses in ... Africa and North America ... Educated at ...
(Date:1/16/2017)... , Jan. 16, 2017 CBDRx, the ... large amounts of phyto-nutrient rich hemp extract to Veteran,s ... donation of their proprietary hemp extract to Veteran,s groups ... the best hemp company in the world and through ... most nutritious, full spectrum phyto-nutrient rich hemp extract available. ...
Breaking Medicine Technology: