Q-Med AB: Year-End Report 2010

January - December
- Group revenues from sales of goods and royalties amounted to 1,454 (1,364)
MSEK.
- Earnings per share amounted to 2.11 (6.89) SEK.
- Operating income amounted to 287 (738) MSEK.
- Revenues within the Esthetics product area amounted to 1,323 (1,152) MSEK and
operating income was 303 (252) MSEK.
- Net income after tax amounted to 210 (685) MSEK. Net income for 2009 was
positively affected by a total of 505 MSEK as a result of a one-time revenue and
revenues from the research collaboration with Oceana Therapeutics.

October - December
- Group revenues from sales of goods and royalties amounted to 394 (348) MSEK
during the fourth quarter and operating income amounted to 42 (62) MSEK. For the
Esthetics product area operating income amounted to 58 (57) MSEK and for the
Hospital Healthcare product area operating income amounted to 24 (17) MSEK. A
cost of 41 MSEK regarding a write-down of the goodwill that arose when Q-Med AB
acquired its Italian distributor in 2001 has been charged against income for the
fourth quarter for the Esthetics product area. The write-down is due to the fact
that the cash flow from the Italian market can no longer be considered to derive
from the goodwill that is related to the acquisition. Furthermore, expenses for
the legal dispute between Genzyme Corporation and Medicis, Q-Med's partner in
North America, and expenses attributable to the bid that Galderma Holding AB has
made for Q-Med have been charged to income for the fourth quarter. These
expenses amounted to a total of 24 MSEK.
- Net income after tax amounted to 34 (51) MSEK during the fourth quarter.
- Representatives for Q-Med and Q-Med's partner Oceana Therapeutics met the
FDA's Gastroenterology and Urology Devices Panel on December 2 to discuss
clinical evidence for the use of Solesta(TM) in the treatment of fecal
incontinence. The FDA panel voted 5-0 that the benefits of Solesta outweigh the
risks of the treatment. One panel member refrained from voting. In practice the
result means that the panel supports approval of Solesta for patients where
simpler treatment methods do not work. The FDA is expected to take the panel's
recommendation into consideration during the continued review process of the
Solesta PMA.
- Medicis was informed that Genzyme Corporation has filed a lawsuit against the
company alleging that Medicis is infringing on a patent held by Genzyme by
marketing Restylane(®), Perlane, Restylane(®)-L and Perlane(®)-L.
- Galderma Holding AB, a company wholly owned by Galderma Pharma S.A., announced
on December 13 a public offer to the shareholders of Q-Med to tender all their
shares in Q-Med to Galderma. With the exception of Q-Med's largest shareholder,
Lyftet Holding B.V., the shareholders are offered 75.00 SEK in cash for each
share in Q-Med. Q-Med's Board[1] unanimously recommends the shareholders of Q-
Med to accept the public takeover offer by Galderma. Se also the separate press
release of January 31.


[1]As a consequence of the undertaking from Lyftet Holding B.V. to Galderma to
accept the Offer, Bengt Ågerup has not participated in the Board's consideration
of the Offer or this statement.

Queries should be addressed to:

Maria Carell,  CEO
Tel: +46 70 974 9020

Alexander Kotsinas, Vice President and CFO
Tel: +46 73 500 1111


Future financial reports and calendar:
Interim report January - March 2011      April 27, 2011

Annual General Meeting                   April 28, 2011

Half-year report January - June 2011      July 21, 2011

Interim report January -  September 2011 October 26, 2011



Election committee:
Robert Wikholm,robert.wikholm@vinge.se, Chairman
Lars Bergkvist, Lannebo Fonder
Anders Milton
Kerstin Sandberg, Robur Fonder
Bengt Ågerup


January 31, 2011
Uppsala
Q-Med AB (publ.)


Maria Carell
CEO


The information in this report is such as that which Q-Med is required to
disclose in accordance with the Swedish Securities Market Act and/or the
Financial Instruments Trading Act. The information was submitted for disclosure
at 7.30 a.m. on January 31, 2011.


Q-Med AB is a medical device company that develops, manufactures, markets, and
sells high quality medical implants for esthetic and medical use. The majority
of the products are based on the company's patented technology, NASHA(TM), for
the production of stabilized non-animal hyaluronic acid. The product portfolio
today contains: Restylane® for filling lines and folds, contouring and creating
volume in the face, Macrolane(TM) for body contouring, Durolane(TM) for the
treatment of osteoarthritis of the hip and knee joints, Deflux® for the
treatment of vesicoureteral reflux, VUR, (a malformation of the urinary bladder)
in children, and Solesta® for the treatment of fecal incontinence. Sales are
made through the company's own subsidiaries or distributors in over 70
countries. Q-Med today has about 650 coworkers, with almost 400 at the company's
head office and production facility in Uppsala, Sweden. Q-Med AB is listed in
the Mid Cap segment of the NASDAQ OMX Nordic.


The full report with tables can be downloaded from the following link.

[HUG#1483559]