An anonymous director reports

QLT PROVIDES UPDATE ON MERGER WITH AUXILIUM PHARMACEUTICALS, INC.

QLT Inc. has been advised by Auxilium Pharmaceuticals Inc. that Auxilium has received an unsolicited offer from Endo International PLC to acquire all of the issued and outstanding shares of Auxilium. Auxilium has further advised QLT that the board of directors of Auxilium is reviewing the Endo proposal and has not withdrawn, modified, withheld, changed or qualified its recommendation with respect to the proposed merger with QLT pursuant to the agreement and plan of merger among QLT, Auxilium, QLT Holding Corp. and QLT Acquisition Corp., dated June 25, 2014. The merger agreement continues in full force and effect.

In accordance with the merger agreement, QLT has consented to the adoption by Auxilium of a stockholder rights plan in response to the Endo proposal.

QLT's board of directors reaffirms its support for the merger with Auxilium pursuant to the merger agreement and believes that such a transaction continues to be in the best interests of QLT.