* Expects 2013 revenue to rise about 13 pct
* Shares rise as much as 5 pct (Adds CEO quote, details, share movement)
May 16 (Reuters) - Hikma Pharmaceuticals Plc raisedits full-year revenue forecast as its generic antibioticdoxycycline generated revenue ahead of its expectations, sendingits shares up as much as 5 percent.
The company, founded in 1978 in Jordan, has been able totake advantage of a drug shortage in the United States asseveral generic drugmakers have been forced to cut capacity inthe face of stringent regulatory scrutiny.
Hikma said it expected group revenue to rise about 13percent in 2013, up from its previous forecast of around 10percent.
The company reported revenue of $1.11 billion in 2012, withits generic business contributing $103.7 million and injectablescontributing $470 million.
Hikma said it continued to expect its largest injectablesbusiness to achieve low double-digit revenue growth.
"The significant contribution from doxycycline in the firsthalf of 2013 is enabling us to cover the increased cost ofremediation in our generics business," Chief Executive SaidDarwazah said.
The drugmaker stopped commercial production at itsEatontown, New Jersey plant in November to ensure compliancewith U.S. FDA guidelines.
Hikma said it expected the generic business to incur one-offremediation costs and inventory write-downs of around $25million to $30 million in the full year.
The company said its injectables business is performing"extremely well" in the United States, driven by new productlaunches and price improvements.
Hikma said in April it would keep its fast-growinginjectables business after weighing up a number of unsolicitedapproaches for the unit.
The company's shares, which have risen 13 percent since itannounced it will keep its injectables business, were up 3.5percent at 1026 pence on the London Stock Exchange on Thursdaymorning. (Reporting by Ankur Banerjee in Bangalore; Editing by DonSebastian)
Hikma Pharmaceuticals (HIK)
