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ISTA Pharmaceuticals (Nasdaq: ISTA) $3.92. Today announced the U.S. Food and Drug Administration (FDA) has granted the Company three years of marketing exclusivity for BROMDAY (bromfenac ophthalmic solution) 0.09%, as provided under the Drug Price Competition and Patent Term Restoration Act, commonly known as the Hatch-Waxman Act. BROMDAY (formerly referred to as XiDay), the first and only once-daily prescription eye drop for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract extraction, was approved by the FDA in October of 2010. Under the Hatch-Waxman Act, the FDA may not approve an Abbreviated New Drug Application for a generic version of BROMDAY until October of 2013.
ISTA also announced it recently shipped the first orders of BROMDAY to wholesalers and expects BROMDAY to be available in pharmacies beginning the week of November 22, 2010. The ISTA sales force has begun detailing BROMDAY to ophthalmologists, and the company expects to discontinue the twice-daily XIBROM product in early 2011.
What They Do: 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.
Hypercom Corporation (NYSE: HYC) $6.13, and VeriFone Systems (NYSE: PAY). Today announced a definitive agreement under which VeriFone will acquire Hypercom in an all-stock transaction valued at approximately $485 million, including net debt assumed by VeriFone.
Under the terms of the transaction, which has been unanimously approved by the boards of directors of both companies, Hypercom shareholders will receive a fixed ratio of 0.23 shares of VeriFone common stock for each Hypercom share they own, valued at approximately $7.32 per share based on the closing price on November 16, 2010. VeriFone will also assume Hypercom’s outstanding warrants and stock options in the transaction.
What They Do: Hypercom Corporation is a global payment technology provider that delivers a full suite of high security, end-to-end electronic payment products, software solutions and services.
LSI Industries (Nasdaq: LYTS) $8.78. Today announced that it has been selected by BP Products North America to be its supplier in connection with a major new LED canopy lighting upgrade program. LSI will act as BP's "lighting expert" and will have principal responsibility for this domestic program which includes survey of sites to determine product needs and the manufacture and supply of energy efficient LED fixtures. This program has been in the planning stages for several months, and involved an earlier test program of 100 sites. Shipments of LSI products could begin during the third quarter of LSI's current fiscal year. The retrofit program is expected to involve as many as 1,600 sites per year for three years for jobber-owned locations. LSI's new Crossover(R) Generation 3 LED canopy fixture that was released to the market earlier this year continues to generate great interest, gain acceptance, and will be used in this canopy retrofit program.
What They Do: LSI Industries Inc. is an Image Solutions company, dedicated to advancing solid-state LED technology in lighting and graphics applications.
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