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:TOP
STORY
Acquisition Enhances QLT Glaucoma Products
QLT (NASDAQ: QLTI) entered into
an agreement under which QLT will acquire privately-held
ForSight Newco II, Inc. The acquisition includes ForSight
Newco II's proprietary ocular punctal plug drug delivery system
with the potential for future multi-product opportunities. The
first clinical candidate utilizing this leading edge platform
technology will target glaucoma. Under the terms of the agreement,
QLT will acquire all of the outstanding shares of ForSight for $42
million on closing along with future milestone payments and
royalties on net sales of products. The milestone payments consist
of a one-time $5 million payment upon the initiation of a phase III
clinical trial for the first product, $20 million on first
commercialization of each of the first two products using ForSight
Newco II's proprietary technology and $15 million on first
commercialization of each subsequent product. The acquisition is
expected to close early in the fourth quarter of 2007 and is
subject to customary closing conditions. On completion of the
acquisition, ForSight will become a wholly-owned subsidiary of QLT.
QLT officials said its proprietary system for delivery of
medications to the eye using punctal plugs will be an important
therapeutic advance in the field of ophthalmology, and could become
a key contributor to its future growth.
:CONFERENCE
CALLS
Advanced Medical Optics (NYSE:
EYE) will report third quarter 2007 financial results before
the market opens on Oct. 25, followed by a 10 a.m. ET conference
call and web cast. Access is at
www.amo-inc.com.
Alcon (NYSE: ACL) will report third quarter financial
results after the market close on Oct. 24, and will host a
conference call Oct. 25 at 8:30 a.m. ET. Access is at www.alcon.com.
Allergan (NYSE: AGN) will discuss third quarter 2007 results
at 8 a.m. PT Nov. 6. Access is at www.allergan.com or
1-866-455-0570.
AmSurg (NASDAQ: AMSG) will provide a webcast of its 2007
third quarter earnings release conference call at 5 p.m. ET Oct.
23. Access is at www.amsurg.com.
InSite Vision (AMEX: ISV) will webcast its annual
stockholders meeting at 10 a.m. PT Oct. 15. Access is at www.insitevision.com.
LCA-Vision (NASDAQ: LCAV) will release third quarter 2007
financial results prior to market opening on Oct. 30. A conference
call and webcast will follow at 10 a.m. Access is at 866-322-1352
and
www.lca-vision.com.
Oakley (NYSE: OO) will announce its financial results for
the third quarter on Oct. 18. A news release will be issued at 1
p.m. PT, with a conference call to follow at 1:30 p.m. PT. Access
is at http://investor.oakley.com and
888-266-2081.
OXiGENE (NASDAQ: OXGN) will present at 1 p.m. ET Oct. 11 at
the BIO Investor Forum in San Francisco. Access is at www.oxigene.com.
TLC Vision (NASDAQ: TLCV) will release its third quarter
2007 financial results before the market opens on Nov. 5, followed
by a 10 a.m. ET conference call. Access is at 888-575-8232 www.tlcv.com.
:COMPANY
NEWS
Advanced Medical Optics (NYSE:
EYE) announced that Michael J. Lambert will join the company on
October 15 as CFO. Most recently Lambert was senior vice president
and CFO of Quest Software where he drove productivity gains and
controlled costs, improved cash flow performance, integrated
multiple acquisitions, and improved resource allocation
processes.
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