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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
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<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
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<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the<BR>
Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Date of earliest event reported: May&nbsp;25, 2006</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>QLT INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">(Exact Name of Registrant as Specified in Charter)</FONT></DIV></DIV>


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    <TD align="center" valign="top"><B>British Columbia, Canada</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-17082</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>N/A</B></TD>
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    <TD align="center" valign="top"><DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">(State or Other Jurisdiction</FONT></DIV>
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    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">(Commission File Number)</FONT></DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">&nbsp;&nbsp;&nbsp;(I.R.S. Employer&nbsp;&nbsp;&nbsp;</FONT></DIV></TD>
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<TR valign="bottom">
    <TD align="center" valign="top">of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><FONT style="border-bottom: 1px solid #000000"><B>887 Great Northern Way, Vancouver, B.C. Canada, V5T 4T5</B></FONT></DIV>

<DIV align="center" style="font-size: 10pt">(Address of Principal Executive Offices) (Zip Code)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(604)&nbsp;707-7000</B></DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">(Registrant&#146;s telephone number, including area code)</FONT></DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Not Applicable</B></DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">(Former Name or Former Address, if Changed Since Last Report)</FONT></DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
</DIV>


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    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
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    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR
230.425)</TD>
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    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
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    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR
240.14a-12)</TD>
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    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
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    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))</TD>
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    <TD style="font-size: 6pt">&nbsp;</TD>
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    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 7.01</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>REGULATION FD DISCLOSURE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May&nbsp;25, 2006, Bob Butchofsky, President and Chief Executive Officer of QLT Inc., announced
that Peter J. O&#146;Callaghan will be joining QLT as Senior Vice President, Corporate
Development and General Counsel.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peter O&#146;Callaghan was a senior partner at Blake, Cassels &#038; Graydon LLP. He brings more
than 20&nbsp;years of experience as a corporate securities lawyer in connection with all types of
corporate finance transactions, including public and private equity financings, take-over and
issuer bids, independent counsel to investment dealers and boards of directors, and all regulatory
and stock exchange compliance work. He is recognized in The Canadian Legal Expert Directory as one
of the leading lawyers in Canada. Mr.&nbsp;O&#146;Callaghan graduated from the University of British Columbia
with a Bachelor of Commerce (B.Com.) in 1983 and Bachelor of Law (LL.B.) in 1984. He was admitted
to the British Columbia Bar in 1985.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The full text of the press release is attached hereto as Exhibit&nbsp;99.1 to this Current Report
on Form 8-K and is incorporated herein by reference. Such information shall not be deemed &#147;filed&#148;
for purposes of Section&nbsp;18 of the Securities and Exchange Act of 1934, as amended, and is not
incorporated by reference into any filing of the company, whether made before or after the date
hereof, regardless of any general incorporation language in such filing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 9.01</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>FINANCIAL STATEMENTS &#038; EXHIBITS</B>
</DIV>

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    <TD nowrap align="left"><U>Number</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><U>Description</U></TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release issued by QLT Inc. on May&nbsp;25, 2006.</TD>
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</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>


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<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">QLT INC.<BR>
(Registrant)<BR><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Cameron Nelson
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Cameron Nelson&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dated: May&nbsp;26, 2006

</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
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Current Report
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of earliest event reported: May 25, 2006
QLT INC.
(Exact Name of Registrant as Specified in Charter)
British Columbia, Canada
000-17082
N/A
(State or Other Jurisdiction
(Commission File Number)
(I.R.S. Employer
of Incorporation)
Identification No.)
887 Great Northern Way, Vancouver, B.C. Canada, V5T 4T5
(Address of Principal Executive Offices) (Zip Code)
(604) 707-7000
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
ITEM 7.01
REGULATION FD DISCLOSURE
On May 25, 2006, Bob Butchofsky, President and Chief Executive Officer of QLT Inc., announced
that Peter J. O'Callaghan will be joining QLT as Senior Vice President, Corporate
Development and General Counsel.
Peter O'Callaghan was a senior partner at Blake, Cassels & Graydon LLP. He brings more
than 20 years of experience as a corporate securities lawyer in connection with all types of
corporate finance transactions, including public and private equity financings, take-over and
issuer bids, independent counsel to investment dealers and boards of directors, and all regulatory
and stock exchange compliance work. He is recognized in The Canadian Legal Expert Directory as one
of the leading lawyers in Canada. Mr. O'Callaghan graduated from the University of British Columbia
with a Bachelor of Commerce (B.Com.) in 1983 and Bachelor of Law (LL.B.) in 1984. He was admitted
to the British Columbia Bar in 1985.
The full text of the press release is attached hereto as Exhibit 99.1 to this Current Report
on Form 8-K and is incorporated herein by reference. Such information shall not be deemed "filed"
for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and is not
incorporated by reference into any filing of the company, whether made before or after the date
hereof, regardless of any general incorporation language in such filing.
ITEM 9.01
FINANCIAL STATEMENTS & EXHIBITS
Number
Description
99.1
Press Release issued by QLT Inc. on May 25, 2006.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
QLT INC.
(Registrant)
By:
/s/ Cameron Nelson
Cameron Nelson
Chief Financial Officer
Dated: May 26, 2006