Hikma raises full-year revenue forecast

(Adds details, analyst comment, share movement)

Nov 6 (Reuters) - Drugmaker Hikma Pharmaceuticals Plc raised its full-year revenue growth target to 7 percent, citing strong demand for its high-margin injectible drugs, particularly in the United States.

The Jordanian company, which makes and markets branded and non-branded generics and injectible drugs, had earlier forecast sales growth of around 5 percent for this year.

Shares (Berlin: DI6.BE - news) in Hikma were down 2.5 percent at 1920 pence in thin trading on Thursday morning.

Citi analysts said the strong trading and guidance upgrades were positive, but the market consensus was already at these levels.

"Given Street was already ahead on Injectibles/Generics, we see limited upgrades to 2014 consensus," the analysts wrote in a note.

The company also raised its full-year revenue growth forecast for its injectible drugs business to 25 percent, with adjusted operating margins of above 35 percent.

"The continued strength of our injectibles business reflects the benefit of our broad portfolio and our success in capturing market opportunities," Chairman and Chief Executive Said Darwazah said in a statement.

Hikma said in May that it expected its injectibles business to show a 20 percent growth in 2014 and raised its adjusted operating margins forecast to around 35 percent in 2014.

The company, which has grown over the past year on the back of a shortage for the antibiotic doxycycline, said it expected generic drugs revenue of about $215 million this year.

Hikma, also raised its adjusted operating margin forecast for the unit to around 55 percent from about 45 percent.

The company said in March that growth in its generics business would be muted this year, as competition increased in the U.S. doxycycline market, and estimated revenue of about $170 million.

The drugmaker, which received a warning letter from U.S. health regulators in late October following an inspection of its Portugal plant in March, also said it would work with the FDA to resolve all issues at the plant as quickly as possible. (Reporting by Roshni Menon in Bangalore; Editing by Gopakumar Warrier)