The Canadian pharmaceutical company Valeant Pharmaceuticals International has assumed the rights to the medication Visudyne, which is used in age-related macular degeneration, from Canadian company QLT Inc.. For age-related macular degeneration, the centre of the retina – the area of sharpest vision – is destroyed through a degenerative processes.
Valeant, situated in Laval, Canada, is believed to have paid $62.5 million in advance for all US rights and available resources for Visudyne, with QLT achieving sales revenues of $21 million in 2011. An additional $50 million in licencing fees for none-US rights is also payable, for which QLT experienced sales of $14 million in 2011.
Valeant is a multinational pharmaceutical company, which has its core competencies in the areas of neurology, dermatology and branded generics.
[ilink url=“http://www.qltinc.com/newsCenter/2012/120924.htm“] Link zur Quelle (QLT)[/ilink]