Tolmar buys QLT USA for $230 million

VANCOUVER/FORT COLLINS – The story of Atrix Labs has come full circle. QLT Inc. announced Thursday that it has completed the sale of all shares of its wholly-owned U.S. subsidiary QLT USA Inc. to Tolmar Holding Inc. of Fort Collins. The deal is worth up to $230 million, according to the Canadian company.

QLT USA’s assets include about 450 patents, but its principal operating asset is the Eligard line of products for the treatment of prostate cancer. Eligard is currently manufactured in Fort Collins by Tolmar Inc., a wholly-owned subsidiary of Tolmar Holding.

“Eligard has been a very strong revenue stream for…