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ISTA Pharmaceuticals Engages Cowen as Financial Advisor
Date:4/1/2008

IRVINE, Calif., April 1, 2008 /PRNewswire-FirstCall/ -- ISTA Pharmaceuticals, Inc. (Nasdaq: ISTA), today announced it has engaged Cowen and Company as its financial advisor. For more than a year, ISTA has initiated discussions with other companies and financial sponsors regarding new product opportunities and potential mergers and acquisitions that would allow it to grow the scale of ISTA's business. In addition, ISTA has been approached from to time regarding business combination opportunities. Cowen will assist the Company in evaluating these and other opportunities.

In addition, ISTA reconfirmed certain of its guidance issued during its 2007 fourth quarter and year-end earnings announcement. As previously stated, the Company expects net revenue for 2008 will be approximately $75 to $82 million, and the gross margin for 2008 will be approximately 70% to 73%, subject to quarterly fluctuations based on revenue mix. Finally, ISTA believes it is on track to report results of the Phase III and ocular safety studies of Bepreve(TM) (bepotastine ophthalmic solution) during the second quarter of 2008.

ABOUT ISTA PHARMACEUTICALS

ISTA Pharmaceuticals is an ophthalmic pharmaceutical company. ISTA's products and product candidates addressing the $4.7 billion U.S. prescription ophthalmic industry include therapies for inflammation, ocular pain, glaucoma, allergy, and dry eye. The Company currently markets three products and is developing a strong product pipeline to fuel future growth and market share. The Company's product development and commercialization strategy is to launch a new product every 12 to 18 months, thereby continuing its growth to become the leading niche ophthalmic pharmaceutical company in the U.S. For addition
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SOURCE ISTA Pharmaceuticals, Inc.
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