VANCOUVER, Sept. 15 /CNW/ - QLT Inc. (NASDAQ: QLTI; TSX: QLT) announced
today that it has completed the redemption of all $172.5 million outstanding
principal amount of its 3% Convertible Senior Notes ("Notes") due 2023. The
redemption price for the Notes was 100% of the principal amount, plus accrued
and unpaid interest to, but not including, September 15, 2008. Under the terms
of the indenture governing the Notes, interest due and payable as of today was
paid to holders of record as of the close of business on September 1, 2008.
The redemption was made solely pursuant to QLT's Notice of Redemption dated
August 11, 2008, which was delivered to the holders of the Notes by The Bank
of New York, the trustee under the indenture governing the Notes.
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(R) and Eligard(R) and future
product opportunities. For more information, visit our web site at
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."
For further information:
For further information: QLT Inc. Media Contact: Vancouver, Canada,
Karen Peterson, Telephone: (604) 707-7000 or 1-800-663-5486, Fax: (604)
707-7001; The Trout Group Investor Relations Contact: New York, USA, Christine
Yang, Telephone: (646) 378-2929; or Marcy Strickler, Telephone: (646)