Aug 21 (Reuters) - QLT Inc QLT.TO :
* InSite Vision said to terminate merger agreement and enter into an agreement
with a multi-national pharmaceutical to implement proposal
* If InSite terminates merger agreement,then InSite is required to pay a
termination fee to QLT in the amount of $1.2 million
* QLT has option until 5:00 p.m. pdt on August 26 to negotiate a possible
amendment to terms of merger agreement to match or exceed proposal
* If amended QLT proposal results in proposal not being "company superior
proposal", InSite, QLT to enter into agreement to reflect amended terms
* Source text for Eikon ID:nGNXVEHATa
* Further company coverage QLT.TO