VANCOUVER, Jan. 12 /CNW/ - QLT Inc. (NASDAQ: QLTI; TSX:QLT) today
announced global Visudyne(R) (verteporfin) sales of US$30.6 million for the
quarter and $141.9 million for the full year ended December 31, 2008. Visudyne
sales for the fourth quarter declined by 32.7% over the same quarter in 2007
and the full year represented a decrease of 34.0% from annual sales in 2007.
Sales in the U.S. for the quarter were $8.0 million, down 20.0% from the
prior-year fourth quarter while sales outside the U.S. were $22.6 million,
down 36.3% from the same quarter of the prior year.
QLT will release its full financial results on Thursday, February 19,
2009, at 7:30 AM Eastern Time (ET).
A full explanation of how QLT determines and recognizes revenue resulting
from Visudyne sales is set out 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.
Conference call information
QLT Inc. will hold an investor conference call to discuss fourth quarter
and year end 2008 results on Thursday, February 19, 2009 at 8:30 a.m. EST
(5:30 a.m. PST). The call will be broadcast live via the Internet at
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. EST. 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 "number" sign.
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
field of ophthalmology. 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 www.qltinc.com.
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)