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Biotech / Medical : QLT PhotoTherapeutics (QLTI)

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To: Doug Lakin who started this subject	7/24/2003 4:00:20 PM
From: Ian@SI	Read Replies (1) of 1321

11:43 (Dow Jones) The improving prospects for QLT's (QLTI) Visudyne drug following yesterday's 2Q results prompts Merrill to upgrade the stock to buy from neutral. Visudyne is the only approved treatment for wet age-related macular degeneration, or AMD, which causes blindness. Analyst Hari Sambasivam cites a 10% price increase in the U.S. in the 4Q, potential revenue growth if the U.S. reverses a past decision against reimbursing for the "occult" form of AMD, the potential use of Visudyne in combination therapy, and improved operating performance from the JV with Novartis (NVS). Stock up 7.5% at $16.54.

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