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Biotech / Medical : QLT PhotoTherapeutics (QLTI) -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (1231)	10/11/2001 8:10:33 AM
From: Al Collard	Read Replies (1) \| Respond to of 1321

QLT sales increase 86% in Q3; conference call Oct. 24 Thu 11 Oct 2001 News Release Dr. Julia Levy reports QLT has released global Visudyne (verteporfin) sales of approximately $88.9-million (Canadian) ($57.5-million (U.S.)) for the quarter ended Sept. 30, 2001. This represents an increase of 86 per cent over sales in the third quarter of 2000 and a 2-per-cent increase over the second quarter of 2001. Year-to-date sales for the product now total $249.1-million (Canadian) ($161.7-million (U.S.)). QLT will release its full financial results on Wednesday, Oct. 24, 2001, at 4 p.m. ET. Preliminary estimates of net income for the quarter indicate that the company expects to record profitability at the high end of the range of analyst expectations. "We have seen U.S. sales return to normal after softening in the weeks following the events of Sept. 11, 2001," said Dr. Julia Levy, QLT's president and chief executive officer. "We remain confident that we will meet our annual sales target of $225-million (U.S.) to $250-million (U.S.) by year-end as the global Visudyne franchise continues to expand with approvals in new indications and in new jurisdictions." Visudyne is now approved in 52 countries for predominantly classic AMD and in 25 countries for extended indications including CNV due to pathologic myopia. In addition, submissions have recently been filed with regulatory agencies in the European Union, Canada, Australia and New Zealand for the occult form of AMD. Visudyne sales in the United States for the quarter were approximately $56.3-million (Canadian) ($36.4-million (U.S.)), representing 63 per cent of total sales for the quarter. The remaining $32.6-million (Canadian) ($21.1-million (U.S.)) relates to sales in the rest of the world. QLT's share of Visudyne net profits (excluding reimbursement for manufacturing and other costs) for fiscal 2001 remain on track to reach approximately 25 per cent of total Visudyne sales. QLT will hold an analyst and institutional investor conference call to discuss third quarter results on Wednesday, Oct. 24, at 4:30 p.m. ET (1:30 p.m. PT). The call will be broadcast live via the Internet at www.qltinc.com. A replay of the call will be available via the Internet and also via telephone at (416) 626-4100, access code 19864023. WARNING: The company relies upon litigation protection for "forward-looking" statements.