QLT Restructures, Retains Goldman Sachs to Explore Value of Its Visudyne Business

VANCOUVER, Canada— Canadian biotechnology company QLT Inc. (TSE:QLT)(NASDAQ:QLTI) announced earlier this week that it is moving in a new strategic direction and that it was cutting its workforce by two-thirds, leaving it with 68 employees.   The downsizing was brought on by new corporate leadership following a proxy battle waged by some of its shareholders.   Among those leaving is Robert Bulchofsky, who has been QLT's president and chief executive. He has agreed to stay until July 31 as part of the transition.   Read the article on VMail