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QLT reports 2004 earnings

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VANCOUVER, Canada — QLT reported revenues of $186 million in 2004, a growth of 27% from the previous year, according to a financial news release.

Sales of QLT’s lead drug, Visudyne (verteporfin for injection), were $448 million for the year, and the company’s prostate cancer drug, Eligard (leuprolide acetate for injectable suspension), accounted for an additional $84 million.

Visudyne is co-marketed with Novartis for the treatment of choroidal neovascularization in wet age-related macular degeneration. For 2005, “based on recent events and current trends in Visudyne sales, QLT is projecting that Visudyne sales will range from $500 to $530 million,” the company stated in its release.