Sun Pharma gains on better outlook for key drug

Reuters Market Eye - Sun Pharmaceutical Industries up 1 percent after a competitor raised its revenue guidance, citing strong sale of a generic antibiotic also sold by Sun Pharma.

Hikma Pharmaceuticals Plc on Wednesday raised its full-year revenue forecast for the third time in four months, riding on strong sales of generic antibiotic doxycycline, a drug used to prevent and treat malaria and other infections.

Analysts expect generic doxycycline to contribute around US$60-80 million in sales in FY14 for Sun Pharma.

(Reporting by Abhishek Vishnoi)