QLT beats Street

QLT (TSE:QLT;QLTI) posted first quarter 2005 non-GAAP EPS of $0.19, beating the Street estimate by $0.03 and up 73% from $0.11 in the same period in 2004. The 2004 figure includes results from Atrix, which QLT acquired in November 2004.

As previously announced by partner Novartis (NVS; SWX:NOVN), first quarter sales of Visudyne verteporfin photodynamic therapy were up 23% to $124 million. Visudyne is approved to treat certain forms of wet age-related macular degeneration. QLT revenues from Visudyne were $50 million in the quarter, up 23% from $41 million in the first quarter last year. ...