Q-Med Quarterly Report January - March 2003

UPPSALA, Sweden, May 12, 2003 (PRIMEZONE) -- Q-Med:

Sales increased by 24 percent to SEK 141.3 (113.7) million. Adjusted for changes in exchange rates, sales increased by 33 percent.

On a rolling 12 months basis sales rose by 29 percent to SEK 545.4 (422.5) million.

Q-Med divested the North American business concerning the esthetics products RESTYLANE(R), RESTYLANE(R) Fine Lines and PERLANE(TM) to Medicis (NYSE: MRX) for USD 160 million. A first payment of USD 58.2 million, corresponding to SEK 487.2 million, was received on March 10. A net revenue of SEK 473.6 million is recorded after the deduction of acquisition costs.

Operating income, adjusted for the above-mentioned revenue, amounted to SEK 4.7 (12.9) million. For Q-Med's largest business unit, Estethics, operating income increased by 58 percent to SEK 44.8 millon.

Income after financial items amounted to SEK 476.3 (12.9) million and the cash flow to SEK 465.0 (-34.4) million.

Earnings per share amounted to SEK 19.20 (0.44).

Queries should be addressed to Bengt Agerup, President and CEO, on 018-474 90 00 or 0+46 70-974 90 25, or to Fredrik Hallstan, Director of Investor Relations and Corporate Communications, on +46 70-974 90 15.

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