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Posted AT 10:15 AM EST on 09/06/08

QLT sells acne treatment product to Allergan

JOHN PARTRIDGE

Globe and Mail Update

Struggling Vancouver drug-maker QLT Inc. has struck a long-awaited deal to sell its Aczone acne treatment for $150-million (U.S.), three months after U.S. regulators waived an onerous blood-test requirement for the topical medicine. QLT said Monday it will receive a one-time cash payment from Allergan Sales LLC, a unit of Allergan Inc. of Irvine, Ca., upon the deal's closing, which is expected to occur in the third quarter.

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