QLT gains drug delivery tech in $42M buyout

Canada's QLT has snapped up new drug delivery technology for eye conditions with its $42 million acquisition of ForSight Newco II. The deal also includes $40 million in scheduled milestones for the development and commercialization of the new technology, called "punctual plugs."

"This acquisition is a clear strategic fit. It complements our expertise in ophthalmology, and it supports our goal to expand our pipeline of ocular products," said Bob Butchofsky, president and CEO of QLT.

- see QLT's release

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