QLT at neutral by Merrill

QLT Inc. was rated at neutral by Merrill Lynch analyst Hari Sambasivam after the company announced the not-so-surprising Visudyne sales. U.S. sales declined from $53.5 million in the second-quarter 2005 to $35.0 million in the fourth-quarter 2005, staying stable at $30.5 million in the first quarter of this year. Shares of the Vancouver, B.C., biopharmaceutical company were down 2 cents, or 0.24%, at $8.22 on volume of 516,980 shares versus the three-month running average of 1,529,230 shares. (Nasdaq: QLTI)

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