Q-Med Interim report January -- September 2003

UPPSALA, Sweden, Oct. 17, 2003 (PRIMEZONE) -- Q-Med (Other OTC:QMDAF):

- Turnover during the first nine months amounted to SEK 427.8 (369.5) million, of which SEK 145.1 (116.1) million was during the third quarter.

- Operating income amounted to SEK 452.0 (26.1) million during the first nine months. Adjusted for items affecting comparability in 2003 and the one-time revenue in 2002, operating income amounted to SEK -10.2 (4.4) million.

- Net income after tax for the nine-month period amounted to SEK 457.1 (18.8) million. Adjusted for items affecting comparability in 2003 and the one-time revenue in 2002, net income amounted to SEK -5.1 (3.2) million.

- Earnings per share amounted to SEK 18.42 (0.76).

- All patients in a study on the product SubQ treated.

- First patient included in a study on DEFLUX in Japan.

Q-Med is a rapidly growing and profitable biotechnology/medical device company that develops, produces and markets medical implants. All products are based on the company's patented technology for the production of NASHA - Non-Animal Stabilized Hyaluronic Acid. The products RESTYLANE, RESTYLANE Fine Lines and RESTYLANE Perlane are used for the filling out of lips and facial wrinkles and today account for the majority of sales. DUROLANE, Q-Med's product for the treatment of osteoarthritis of the knee joint, has been approved in Europe since May 2001. DEFLUX is a product which has been approved in Europe and the USA for the treatment of vesicoureteral reflux (malformation of the urinary bladder) in children. ZUIDEX for the treatment of stress urinary incontinence in women has been sold in Europe since July 2002. Q-Med today has 440 employees, with approximately 290 at the company's production facility and head office in Uppsala. The Q-Med share was first listed on the O-list of the Stockholm Stock Exchange in December 1999.

 Report on operations 2003                    February 12
 Interim report January-March 2004            May 6
 Annual General Meeting                       May 6
 Interim report January-June 2004             July 22
 Interim report January-September 2004        October 28

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