Biopharma duo complete merger

Vancouver, BC – QLT and Atrix Laboratories say they have completed a merger transaction, creating a single biopharmaceutical company focused on ophthalmology, oncology, dermatology and urology.

“We are excited to begin our new life as one organization and to continue the efforts of our ongoing integration planning process to create a unified organization,” says Paul Hastings, president and chief executive officer of QLT. “Based on the complementary profiles of the two businesses we expected that the combination of both companies’ strengths would create value beyond what either company might have achieved independently and it is gratifying to see our shareholders’ overwhelming support of this decision.”

Michael Duncan, formerly vice-president of Atrix, will become president of the company’s Fort Collins facility, QLT USA, and will join QLT’s executive management team.