QLT announces Visudyne(TM) sales for first quarter of 2001

Quarterly Growth in Sales Exceeds 20% for Third Consecutive Quarter



Apr 19, 2001, 01:00 ET from QLT Inc.

    VANCOUVER, April 19 /PRNewswire/ - Following today's release of first
 quarter sales for 2001 by Novartis AG (NYSE:  NVS), QLT Inc. (NASDAQ:  QLTI;
 TSE:QLT) reported global Visudyne(TM) sales of approximately US$48 million
 (CDN$73.5 million or 80 million Swiss Francs) for the quarter ended March 31,
 2001. This compares to global Visudyne sales of US$38 million (CDN$58 million
 or 66 million Swiss Francs) in the fourth quarter of 2000, representing
 approximately 26% quarterly increase.
     QLT expects to release its full financial results on Wednesday, April 25,
 2001, at 1:00 p.m. EST. Preliminary estimates of net income for the quarter
 indicate that the Company should record profitability above the high-end range
 of current analyst expectations.
     "We are pleased that the continued efforts of our marketing partner,
 Novartis Ophthalmics, and acceptance of Visudyne therapy by retinal
 specialists has resulted in the third consecutive quarter of greater than 20%
 growth in Visudyne sales," said Dr. Julia Levy, QLT's President and Chief
 Executive Officer.
     "In the first 12 months since the product was launched, total Visudyne
 sales have exceeded US$140 million, making Visudyne the most successful
 ophthalmic pharmaceutical product based on first year sales. More importantly,
 retinal specialists in over 35 countries have now performed more than 120,000
 treatments with Visudyne therapy."
     Overall growth in global Visudyne sales of approximately 26% over the
 fourth quarter of 2000 was consistent with market research results previously
 released by QLT projecting increased usage by physicians.
     Commercial Visudyne sales in the United States for the quarter were
 approximately US$31 million (CDN$47.5 million or 51.5 million Swiss Francs),
 representing approximately 65% of total sales for the quarter. The remaining
 US$17 million (CDN$26 million or 28.5 million Swiss Francs) was related to
 sales in Canada, Europe and other markets.
     QLT expects that its share of Visudyne net profits (excluding the
 reimbursement for manufacturing and other costs) for the first quarter will be
 approximately 21% of total Visudyne sales. QLT's revenue from Visudyne sales
 consists of reimbursement for manufacturing, third-party royalties and other
 costs along with 50% of the Visudyne net profits which are calculated as sales
 less marketing, overhead and manufacturing costs.
 
     QLT Inc. is a world leader in photodynamic therapy, a field of medicine
 utilizing light-activated drugs in the treatment of disease. QLT's innovative
 science has led to the development and commercialization of breakthrough
 treatments utilizing this technology for applications in ophthalmology and
 oncology and is exploring the potential in immune disorders. For more
 information, you are invited to visit QLT's web site at www.qltinc.com.
 
     QLT Inc. will hold an analyst and institutional investor conference call
 to discuss first quarter results on Wednesday, April 25, at 4:30 p.m. EST
 (1:30 p.m. PST). 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 18478353.
 
     Visudyne(TM) is a trademark of Novartis AG
 
     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 financial results are preliminary and unaudited and should not be
 considered a complete disclosure of our quarterly or annual results. Certain
 statements in this press release constitute "forward-looking statements" of
 QLT within the meaning of the Private Securities Litigation Reform Act of
 1995, which involve known and unknown risks, uncertainties and other factors
 that may cause our actual results to be materially different from any future
 results, performance or achievements expressed or implied by such statements.
 Forward-looking statements include, but are not limited to, those with respect
 to anticipated levels of sales of Visudyne(TM) and estimates of our share of
 Visudyne net profits and net income. These statements are only predictions and
 actual events or results may differ materially. Factors that could cause such
 actual events or results expressed or implied by such forward-looking
 statements to differ materially from any future results express or implied by
 such statements include, but are not limited to: the risk that future sales of
 Visudyne may be less than expected, our future operating results are uncertain
 and likely to fluctuate, currency fluctuations in our primary markets may
 impact our financial results, the outcome of the pending patent and securities
 litigation against us is uncertain and may be unfavorable, we are dependent on
 third-parties to commercialize Visudyne, uncertainty of and timing of pricing
 and reimbursement may limit the future sales of Visudyne and other factors
 described in detail in QLT's Annual Information Form on Form 10-K, forthcoming
 quarterly reports on Form 10-Q and other filings with the U.S. Securities and
 Exchange Commission. Forward-looking statements are based on our current
 expectations and QLT is not obligated to update such information to reflect
 later events or developments.
 
 

SOURCE QLT Inc.
    VANCOUVER, April 19 /PRNewswire/ - Following today's release of first
 quarter sales for 2001 by Novartis AG (NYSE:  NVS), QLT Inc. (NASDAQ:  QLTI;
 TSE:QLT) reported global Visudyne(TM) sales of approximately US$48 million
 (CDN$73.5 million or 80 million Swiss Francs) for the quarter ended March 31,
 2001. This compares to global Visudyne sales of US$38 million (CDN$58 million
 or 66 million Swiss Francs) in the fourth quarter of 2000, representing
 approximately 26% quarterly increase.
     QLT expects to release its full financial results on Wednesday, April 25,
 2001, at 1:00 p.m. EST. Preliminary estimates of net income for the quarter
 indicate that the Company should record profitability above the high-end range
 of current analyst expectations.
     "We are pleased that the continued efforts of our marketing partner,
 Novartis Ophthalmics, and acceptance of Visudyne therapy by retinal
 specialists has resulted in the third consecutive quarter of greater than 20%
 growth in Visudyne sales," said Dr. Julia Levy, QLT's President and Chief
 Executive Officer.
     "In the first 12 months since the product was launched, total Visudyne
 sales have exceeded US$140 million, making Visudyne the most successful
 ophthalmic pharmaceutical product based on first year sales. More importantly,
 retinal specialists in over 35 countries have now performed more than 120,000
 treatments with Visudyne therapy."
     Overall growth in global Visudyne sales of approximately 26% over the
 fourth quarter of 2000 was consistent with market research results previously
 released by QLT projecting increased usage by physicians.
     Commercial Visudyne sales in the United States for the quarter were
 approximately US$31 million (CDN$47.5 million or 51.5 million Swiss Francs),
 representing approximately 65% of total sales for the quarter. The remaining
 US$17 million (CDN$26 million or 28.5 million Swiss Francs) was related to
 sales in Canada, Europe and other markets.
     QLT expects that its share of Visudyne net profits (excluding the
 reimbursement for manufacturing and other costs) for the first quarter will be
 approximately 21% of total Visudyne sales. QLT's revenue from Visudyne sales
 consists of reimbursement for manufacturing, third-party royalties and other
 costs along with 50% of the Visudyne net profits which are calculated as sales
 less marketing, overhead and manufacturing costs.
 
     QLT Inc. is a world leader in photodynamic therapy, a field of medicine
 utilizing light-activated drugs in the treatment of disease. QLT's innovative
 science has led to the development and commercialization of breakthrough
 treatments utilizing this technology for applications in ophthalmology and
 oncology and is exploring the potential in immune disorders. For more
 information, you are invited to visit QLT's web site at www.qltinc.com.
 
     QLT Inc. will hold an analyst and institutional investor conference call
 to discuss first quarter results on Wednesday, April 25, at 4:30 p.m. EST
 (1:30 p.m. PST). 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 18478353.
 
     Visudyne(TM) is a trademark of Novartis AG
 
     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 financial results are preliminary and unaudited and should not be
 considered a complete disclosure of our quarterly or annual results. Certain
 statements in this press release constitute "forward-looking statements" of
 QLT within the meaning of the Private Securities Litigation Reform Act of
 1995, which involve known and unknown risks, uncertainties and other factors
 that may cause our actual results to be materially different from any future
 results, performance or achievements expressed or implied by such statements.
 Forward-looking statements include, but are not limited to, those with respect
 to anticipated levels of sales of Visudyne(TM) and estimates of our share of
 Visudyne net profits and net income. These statements are only predictions and
 actual events or results may differ materially. Factors that could cause such
 actual events or results expressed or implied by such forward-looking
 statements to differ materially from any future results express or implied by
 such statements include, but are not limited to: the risk that future sales of
 Visudyne may be less than expected, our future operating results are uncertain
 and likely to fluctuate, currency fluctuations in our primary markets may
 impact our financial results, the outcome of the pending patent and securities
 litigation against us is uncertain and may be unfavorable, we are dependent on
 third-parties to commercialize Visudyne, uncertainty of and timing of pricing
 and reimbursement may limit the future sales of Visudyne and other factors
 described in detail in QLT's Annual Information Form on Form 10-K, forthcoming
 quarterly reports on Form 10-Q and other filings with the U.S. Securities and
 Exchange Commission. Forward-looking statements are based on our current
 expectations and QLT is not obligated to update such information to reflect
 later events or developments.
 
 SOURCE QLT Inc.