By Bhaswati Mukhopadhyay
Mon Dec 10, 2012 6:33pm EST
(Reuters) – Canadian eye drug developer QLT Inc expects a fake retinoid program, an initial diagnosis for some hereditary eye diseases that can means blindness, to be valued during adult to $750 million.
Several intensity buyers have approached QLT for a module — a usually remaining product after it sole a eye drug, Visudyne, to Valeant Pharmaceuticals International Inc in September.
“We trust in a module and we are most some-more meddlesome in offered it at, let’s say, $15 a share, to collect a turn number,” QLT Chairman Jason Aryeh told Reuters.
The company, valued by a marketplace during $413 million, posted waste in a final 10 buliding as Visudyne mislaid marketplace share to drugs such as Novartis AG’s Lucentis.
QLT stopped generating income after a sale of a drug and has cut some-more than 80 percent of a workforce given July, a month after an romantic investor’s line-up of nominees took control of a board.
Its fake retinoid compound, however, has perceived waif drug standing in a United States and Europe, lifting hopes of a faster regulatory approval.
Aryeh, who was named authority after a house shakeup, pronounced a company’s stream batch cost did not simulate a value of a drug.
But analysts design it to sell for most less.
“We trust a house might be looking for a cost in a operation of $100-$200 million (for a retinoid program),” Bloom Burton Co researcher Philippa Flint pronounced in a new note.
The association has money in palm of about $400 million.
Aryeh pronounced QLT would not compensate a unchanging quarterly division though did not order out a probability of a one-time dividend.
QLT shares have remained scarcely prosaic during C$7.87 this year. They traded around $120 in early 2000 when Visudyne was a company’s pivotal income generator.
(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Saumyadeb Chakrabarty)
Source: Health Medicine Network