QLT Inc., canada-based pharmaceutical company, on Wednesday announced that it has agreed to pay US$20 million of the settlement of its litigation with the General Hospital Corporation, doing business as Massachusetts General Hospital. MGH’s lawsuit against QLT pending in the Massachusetts District Court for violation of Massachusetts General Law Chapter 93A, sections 2 and 11. QLT and MGH, they’re having released each other from any claims in connection with the lawsuit and certain related issues.

“We are pleased to put this matter behind us and continue to concentrate on our clinical programs and strategic growth initiatives,” said Bob Butchofsky, President and Chief Executive Officer of QLT. “We believe that this agreement fairly resolves our dispute and serves to recognize the critically important contributions made by MGH in the development of Visudyne.”

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About QLT Inc.

QLT Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of pharmaceutical products, primarily in the field of ophthalmology. It offers Visudyne, a photosensitizer to treat the eye disease, known as wet age related macular degeneration; and also used for the treatment of subfoveal CNV due to pathologic myopia, or severe near-sightedness, and presumed ocular histoplasmosis or other macular diseases. The company also offers Eligard product line that includes one, three, four, and six month commercial formulations of Atrigel technology combined with leuprolide acetate for the treatment of prostate cancer.