12:09 PM EST - QLT Inc. : announced the establishment of its U.S. subsidiary, QLT Ophthalmics Inc. QLT Ophthalmics will take on the sales and marketing of Visudyne in the U.S. from Novartis Pharma AG effective January 1, 2010 as a result of the Amended and Restated PDT Product Development, Manufacturing and Distribution Agreement with Novartis. QLT Inc. will receive exclusive U.S. rights to the Visudyne patents to sell and market Visudyne in the U.S. Novartis will remain responsible for the distribution, sale and marketing of Visudyne in all other countries where the product is sold. QLT Inc.
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