IRVINE, Calif., November 29, 2010 -- ISTA Pharmaceuticals, Inc. (Nasdaq: ISTA), an ophthalmic pharmaceutical company headquartered in Irvine, California, announced the Company has outgrown its five facilities and two suites located on Alton Parkway and is moving the majority of its operations to a larger corporate headquarters nearby, effective Monday, November 29, 2010:
New Address:
ISTA Pharmaceuticals, Inc.
50 Technology Drive
Irvine, CA 92618
(949) 788-6000
The new headquarters, leased from the Irvine Company for an initial term of 84 months, is approximately 60,500 square feet and authorized for general office, laboratory and warehouse use.
ISTA, one of Orange County’s fast-growing public companies and a member of the 2010 Deloitte Technology Fast 500, grew from $10.7 million in revenues in 2005 to $110.6 million in 2009, an increase of more than 930%. The employee base grew from 64 in 2005 to 327 today, 137 of whom are based at the Irvine, California, headquarters.
“In the last few years, we have established ISTA Pharmaceuticals as a successful and rapidly growing specialty pharmaceutical business,” stated Vicente Anido, Jr., Ph.D., President and Chief Executive Officer of ISTA. “We now have four thriving prescription eye care products and one prescription allergy eye drop. Beyond the marketed products, we are moving potential new drugs successfully through the product pipeline, including product candidates to treat dry eye and nasal allergies. Our new facility will allow us to consolidate all of our administrative, sales and marketing, clinical, development, regulatory and general operational functions under one roof and will provided a solid base for our continued growth.“
ABOUT ISTA Pharmaceuticals
ISTA Pharmaceuticals, Inc. is the fourth largest and fastest growing branded prescription eye care business in the United States, with an expanding focus on allergy therapeutics. ISTA currently markets five products, including treatments for ocular inflammation and pain post-cataract surgery, glaucoma and ocular itching associated with allergic conjunctivitis. The Company’s development pipeline contains additional candidates in various stages of development to treat dry eye, nasal allergies and ocular inflammation and pain. Headquartered in Irvine, California, the Company generated 2009 revenues of $111 million. For additional information about ISTA Pharmaceuticals, please visit the corporate website at www.istavision.com
Forward-Looking Statements
Any statements contained in this press release that refer to future events or other non-historical matters are forward-looking statements. Without limiting the foregoing, but by way of example, statements contained in this press release related to ISTA’s successful transition to a new corporate headquarters, expected 2010 revenue growth and the success of the company’s in moving products through the new product pipeline are forward-looking statements. Except as required by law, ISTA disclaims any intent or obligation to update any forward-looking statements. These forward-looking statements are based on ISTA’s expectations as of the date of this press release and are subject to risks and uncertainties that could cause actual results to differ materially. Important factors that could cause actual results to differ from current expectations include, among others, delays and uncertainties related to the FDA or other regulatory agency approval or actions and such other risks and uncertainties as detailed from time to time in ISTA’s public filings with the U.S. Securities and Exchange Commission, including but not limited to ISTA’s Annual Report on Form 10-K for the year ended December 31, 2009, and its Quarterly Report on Forms 10-Q for the quarters ended March 31, June 30 and September 30, 2010.
