VANCOUVER, Dec. 21 /PRNewswire-FirstCall/ -- QLT Inc. (NASDAQ: QLTI; TSX: QLT) announced today its development partner, MediGene AG, together with marketing partner Yamanouchi, successfully completed the Mutual Recognition Procedure (MRP) and gained approvals in 24 of 26 countries throughout Europe for the Eligard(R) one-month (7.5mg) and three-month (22.5mg) products. In accordance with MRP, each of the EU member states gained market approval in their respective countries using the approvals obtained for Eligard in Germany as a reference.
"We are very happy with the Eligard approvals throughout Europe and are looking forward to its launches in each of these countries where it will be marketed by Yamanouchi, a leader in the field of urology," said Mike Duncan, President of QLT USA, Inc. "It's an exciting step forward in the development of the Eligard products and in their potential as a global product for advanced prostate cancer treatment."
Eligard depot is a member of a class of drugs known as luteinizing hormone-releasing hormone agonists, also called LHRH agonists. Eligard works by lowering the levels of testosterone in the body, which may result in a reduction of symptoms related to the disease.
Approximately 12 months ago, MediGene received marketing authorization for both the one-month and three-month Eligard products in Germany. In early 2004, QLT and MediGene entered into a pan-European marketing agreement with Yamanouchi, who launched the products on the German market in May 2004. Yamanouchi will also commercialize Eligard in all other European countries following product approval.
About QLT Inc.
QLT Inc. is a global biopharmaceutical company specializing in developing treatments for cancer, eye diseases and dermatological and urological conditions.
We have combined our expertise in the discovery, development, commercialization and manufacture of innovative drug therapies with our unique technology platforms to create highly successful products such as Visudyne(R) and Eligard(R).
For more information, visit our Web site at http://www.qltinc.com/.
Therese Hayes / Tamara Hicks
Telephone: (604) 707-7000 or 1-800-663-5486
Fax: (604) 707-7001
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."
Certain statements in this press release constitute "forward-looking statements" of QLT within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, the statements which use language such as "potential" or "will." These forward-looking statements are only predictions and actual events or results may differ materially. Factors that could cause actual events or results to differ materially include, but are not limited to: the outcome of pending patent litigation commenced against QLT USA, Inc. with respect to Eligard may be unfavorable and other risk factors which are described in detail in QLT's Annual Information Form on Form 10-K, quarterly reports on Form 10-Q, Registration Statement on Form S-4 and other filings with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Forward-looking statements are based on our current expectations and QLT does not assume any obligation to update such information to reflect later events or developments, except as may be required by law.
CONTACT: QLT Inc.: Vancouver, Canada, Therese Hayes, Tamara Hicks,Telephone: (604) 707-7000, 1-800-663-5486, Fax: (604) 707-7001;To request a free copy of this organization's annual report, please go tohttp://www.newswire.ca/ and click on reports@cnw.