Q-med's report for the first half of 1998

Q-MED'S REPORT FOR THE FIRST HALF OF 1998 * Revenues increased by 91% to SEK 36.6 million. * Income after financial items amounted to SEK 7.9 (4.2) million. * Subsidiary companies have been started in USA and Canada. * Restylane® has been approved for the Canadian market. Revenues and income Q-Med continues to grow at a rapid rate and the Group reports revenues of SEK 36.6 (19.2) million for the first six months of 1998. The majority of these revenues are accounted for by Restylane®, Q-Med's product for filling out lips, facial wrinkles and facial folds. Restylane's distribution network has been extended and now covers all of Europe as well as Australia/New Zealand. Subsidiaries have also been started during the period in USA and Canada. Restylane was approved for registration in Canada at the end of June, which means that sales can be started and that the product can be marketed targeting the consumer. Operating income for the first half of 1998 amounted to SEK 8.2 (4.5) million. Amortization and depreciation of SEK 1.2 (0.6) million have been charged against income, of which SEK 0.3 (-) million was amortization of goodwill. Income after financial items amounted to SEK 7.9 (4.2) million. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/11/15/19991115BIT00330/bit0001.doc http://www.bit.se/bitonline/1999/11/15/19991115BIT00330/bit0002.pdf

About Us

Q-Med is a rapidly growing and profitable biotechnology and medical device company that develops, produces and markets medical implants. Operations focus on four areas, Esthetics, Orthopedics, Uro-Gynecology, and Cell Therapy and Encapsulation.