(Reuters) - Canadian drug development company QLT Inc said it will cut 42 percent of its workforce, leaving it with 38 employees, following the sale of its eye drug to Valeant Pharmaceuticals International Inc . Valeant said in September it would buy Visudyne, used to treat age-related blindness, for $112.5 million. QLT performed well in the early 2000s on sales of Visudyne but lost market share following entry of rival products such as Novartis AG's Lucentis. ... via Health News Headlines - Yahoo! News Read More Here..
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