Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2011		Sep. 30, 2010		Sep. 30, 2011		Sep. 30, 2010
Cash (used in) generated by operating activities
Net (loss) income	$ (9,106)		$ (697)		$ (23,800)		$ 1,691
Adjustments to reconcile net (loss) income to net cash used in operating activities
Depreciation	328		306		1,040		922
Gain on sales of long-lived assets	(8)		0		(17)		(317)
Share-based compensation	690		618		2,283		1,872
Unrealized foreign exchange gains (losses)	206		(425)		102		(113)
Interest earned on note receivable	0		(250)		0		(741)
Deferred income taxes	395		942		3,276		(4,337)
Changes in non-cash operating assets and liabilities
Accounts receivable	3,101		3,952		815		270
Inventories	309		273		1,323		757
Long-term deposits and other assets	319		592		1,365		4,569
Accounts payable	476		383		(256)		73
Income taxes receivable / payable	1,945		6,027		(940)		5,951
Other accrued liabilities	881		684		401		12
Deferred revenue	0		0		0		(4,244)
Cash used in operating activities	(464)		12,405		(14,408)		6,365
Cash provided by investing activities
Net proceeds from sale of property, plant and equipment	8		0		17		0
Purchase of property, plant and equipment	(530)		(231)		(2,069)		(1,430)
Net proceeds from sale of long-lived assets	0		0		0		317
Proceeds from mortgage receivable	0		3,822		2,004		3,822
Proceeds from contingent consideration	8,192	[1]	4,321	[1]	21,715	[1]	17,644	[1]
Cash provided by investing activities	7,670		7,912		21,667		20,353
Cash used in financing activities
Common shares repurchased, including fees	(4,155)		(8,668)		(14,583)		(17,082)
Issuance of common shares	66		490		1,838		763
Cash used in financing activities	(4,089)		(8,178)		(12,745)		(16,319)
Effect of exchange rate changes on cash and cash equivalents	(262)		152		(37)		71
Net increase (decrease) in cash and cash equivalents	2,855		12,291		(5,523)		10,470
Cash and cash equivalents, beginning of period	201,100		186,293		209,478		188,114
Cash and cash equivalents, end of period	203,955		198,584		203,955		198,584
Supplementary cash flow information:
Interest paid	0		0		0		0
Income taxes paid	$ 2		$ 0		$ 938		$ 10

[1] On October 1, 2009, all of the shares of QLT USA, Inc. ("QLT USA") were sold to TOLMAR Holding, Inc. ("Tolmar") for up to an aggregate $230.0 million, plus cash on hand of $118.3 million. The purchase price included contingent consideration of $200.0 million which had a fair value of $156.2 million on October 1, 2009, representing a non-cash investing activity. During the three months ended September 30, 2011, proceeds received on collection of the contingent consideration totalled $10.0 million (2010 - $9.5 million). Approximately $8.2 million (2010 - $4.3 million) of the proceeds were included within cash provided by investing activities. The remaining $1.8 million (2010 - $5.2 million) of the proceeds were recorded in the Statement of Operations as the fair value change in contingent consideration and were therefore reflected in the net (loss) income line item within cash used in operating activities. During the nine months ended September 30, 2011, proceeds received on collection of the contingent consideration totalled $28.6 million (2010 - $27.8 million). Approximately $21.7 million (2010 - $17.6 million) of the proceeds were included within cash provided by investing activities. The remaining $6.9 million (2010 - $10.2 million) of the proceeds were recorded in the Statement of Operations as the fair value change in contingent consideration and were therefore reflected in the net (loss) income line item within cash used in operating activities.