QLT, Inc. first decision in 2008 was to enhance shareholder value by selling primary assets, including Eligard(R) - product line for prostate cancer -, Aczone(TM) - product for the treatment of acne - and Atrigel(R) drug delivery system.

As part of its strategic restructuring plan, the company planned to focus its business on its Visudyne(R) line - verteporfin for the treatment of wet age-related macular degeneration -, its Photodynamic therapy dermatology technology and its punctal plug delivery technology.

According to a spoken person, the company is "excited to embark on a new chapter as an ophthalmology-focused" one.

During the last year, Aczone(TM) and Atrigel(R) divestments occurred and QLT has reported a combined pre-tax gains of $134.9 million. Nevertheless, the company has not been able to sell its Eligard(R) asset as originally planned and QLT's revenues have been fuelled primarily by Eligard(R) products sales.

The company's revenues were $39.0 million in the fourth quarter of 2008, 26.3% up from the same period last year, as the increase in Eligard(R) revenue more than offset a drop in Visudyne(R) revenue. Revenues from Visudyne(R) were $11.9 million in the quarter, 12.7% less from the fourth quarter last year, while revenue related to Eligard(R) was $24.0 million, and increase of 41.4%.

Source: QLT, Inc.