QLT CUTTING STAFF AMID PRESSURE ON EYE DRUG SALES IN THE U.S.

Biopharmaceutical company QLT Inc. said increasing competition for its Visudyne macular degeneration drug in the U.S. is forcing it to cut almost half of its staff and trim its sales outlook for the year. The Vancouver-based company (TSX:QLT) said it will restrict its focus to opthalmology and one other therapeutic area.

CBC News (http://www.cbc.ca/story/business/national/2005/12/08/qlt-051208.html)