QLT exploring asset sale to boost shareholder value

QLT Inc — once one of Canada's most highly valued technology companies — has established a special committee to explore options for selling some or all of its assets. The move follows declining sales of its lead products for age-related macular degeneration and prostate cancer combined with delays in bringing other products to market. The stock of the Vancouver-based, 26-year-year-old firm is trading at a tiny fraction of its former value as competitor products take market share, prompting the decision to explore all options to enhance shareholder value. Potential buyers include Sanofi, Astellas Pharma Inc and Novartis AG, all of which have ongoing business relationships with QLT….