QLT at neutral by Merrill

Merrill Lynch analyst Hari Sambasivam rated QLT Inc. at neutral rating after the company and its marketing partner Novartis reported third-quarter Visudyne sales of $75.1 million, compared to the analyst's estimate of $87.0 million. QLT reduced its outlook for full-year revenues to $340 million to $355 million, from $370 million to $385 million. The decline in Visudyne revenues is attributed to competition from Lucentis and continued off-label Avastin use, according to the analyst. Shares of the Vancouver, B.C.-based biopharmaceutical company were up 20 cents, or 2.53%, at $8.11. (Nasdaq: QLTI)

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