QLT downgraded by Merrill Lynch to neutral

QLT Inc. was downgraded by Merrill Lynch analyst Hari Sambasivam to neutral from buy following new data to treat wet age-related macular degeneration for Genentech Inc.'s Lucentis that could impact QLT's Visudyne sales. Merrill also noted QLT's prostate cancer drug Eligard is facing similar problems. QLT shares Tuesday fell $0.70, or 6.76%, to $9.65 on volume of 5,752,265 shares versus the three-month running average of 1,202,780 shares.

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