FOR IMMEDIATE RELEASE SEPTEMBER 15, 2008
VANCOUVER, CANADA – QLT Inc. (NASDAQ: QLTI; TSX: QLT) announced today that it has completed the redemption of all $172.5 million outstanding principal amount of its 3% Convertible Senior Notes ("Notes") due 2023. The redemption price for the Notes was 100% of the principal amount, plus accrued and unpaid interest to, but not including, September 15, 2008. Under the terms of the indenture governing the Notes, interest due and payable as of today was paid to holders of record as of the close of business on September 1, 2008. The redemption was made solely pursuant to QLT’s Notice of Redemption dated August 11, 2008, which was delivered to the holders of the Notes by The Bank of New York, the trustee under the indenture governing the Notes.
About QLT
QLT Inc. is a global biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapies. Our research and development efforts are focused on pharmaceutical products in the fields of ophthalmology and dermatology. In addition, we utilize three unique technology platforms, photodynamic therapy, Atrigel® and punctal plugs with drugs, to create products such as Visudyne® and Eligard® and future product opportunities. For more information, visit our web site at www.qltinc.com.
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QLT Inc. Media Contact:
Vancouver, Canada
Karen Peterson
Telephone: 604-707-7000 or 1-800-663-5486
Fax: 604-707-7001
The Trout Group Investor Relations Contact:
New York, USA
Christine Yang
Telephone: 646-378-2929
Or
Marcy Strickler
Telephone: 646-378-2927
QLT Plug Delivery, Inc. is a wholly-owned subsidiary of QLT Inc.
Atrigel is a registered trademark of QLT USA, Inc.
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."
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