Ista sees 2007 gross margin of 71-74 percent

Aug 1 (Reuters) - Ista Pharmaceuticals Inc. (ISTA.O) on Wednesday said it expects gross margin of 71 percent to 74 percent for 2007, compared with its earlier view of 70 percent to 74 percent.

In a conference call, the ophthalmic pharmaceutical company affirmed its 2007 research and development expense view of $24 million to $28 million.

Shares of the company were up nearly 8 percent, or 55 cents, at $7.34 in morning trade on the Nasdaq. (Reporting by Niveditha Ravi in Bangalore)