July 17, 2008 / 12:02 PM / in 10 years

UPDATE 1-QLT says Visudyne sales slip 31.5 percent

(Adds details. In U.S. dollars unless noted)

TORONTO, July 17 (Reuters) - Sales of QLT Inc’s QLT.TO QLTI.O anti-blindness treatment Visudyne dropped more than 30 percent in the second quarter, the company said on Thursday, citing figures from its global marketing partner Novartis NOVN.VX.

Novartis sold $40.7 million worth of QLT’s main product in the quarter ended June 30, down 31.5 percent, from $59.3 million a year earlier, QLT said.

Sales in the United States were $10.1 million, down 1.9 percent, from $10.3 million for the same period a year earlier.

Vancouver, British Columbia-based QLT said the drop in Visudyne sales was primarily due to the approval in Europe of alternative therapeutics for age-related macular degeneration.

QLT will release its financial results on July 29. ($1=$1.00 Canadian) (Reporting by Jennifer Kwan; Editing by Peter Galloway)

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