Item 2.05. Costs Associated with Exit or Disposal Activities.

On December 6, 2012, QLT Inc. (the "Company") issued a press release indicating that the Company has determined to reduce the size of the Company's workforce by 42%. The affected employees will leave the Company during the first half of 2013. The Company expects to record a restructuring charge of approximately $2.0 million relating to this reduction in force. The Company estimates that the total cash expense will be approximately $2.0 million, consisting of expenses related to one-time severance payments, termination benefits and outplacement support.

The full text of the Press Release is set forth in Exhibit 99.1 and is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Pursuant to the rules and regulations of the Securities and Exchange Commission, the attached exhibit is deemed to have been furnished to, but not filed with, the Securities and Exchange Commission:

Number Description

99.1 Press Release dated December 6, 2012

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