SPOTLIGHT: Rival drug drives QLT stock lower

Analysts downgraded QLT, which makes Visudyne, the dominant drug for age-related macular degeneration, after Genentech reported impressive results from clinical trials of its new treatment for the disease, Lucentis. QLT's stock dropped to a 52-week low as the news hit the market. The stock closed at $11.75, down $1.07, after touching a new low of $11.62 early in the session. It was quoted at $21 in January. Article