US, Japan and the UK, the largest pharmaceutical markets, are fast losing sheen for many Indian drugmakers.

The stock of Dr Reddy's (DRL) has fallen 8% in the past month to Rs 397.90 per share compared with a 1.7% increase in the BSE Sensex.

New Delhi, Feb. 24 : The US-based Nostrum Pharmaceuticals has obtained worldwide licensing rights from the Indian-based Institute of Microbial Technology (IMTECH), to develop and commercialise Caerulomycin A, and its proprietary derivatives and analogues for their novel indication and immunosuppression.

IMTECH is a constituent laboratory of the Council of Scientific and Industrial Research (CSIR),

Significance of the deal lies in potential of Caerulomycin to develop into a blockbuster drug to be used to prevent organ transplantation rejection and diseases such as certain autoimmune disorders where immunosuppression is the key to the mitigation of the symptoms.

MSD India, a wholly-owned subsidiary of US drug maker Merck & Co, has revealed its plans to hire 300 people by December end this year.

The new hiring will be spread across all areas of its operations.

Presently, the company has staff strength of about 700 employees, which it wants to raise to 1000 by end of this year.

Apart from latest revealed move, the company is also looking to expand its presence in the Indian market, where it intends to introduce more vaccines.

Hyderabad-based drug maker Aurobindo Pharmaceuticals has notified that it has received US regulatory approval for Tenofovir Disoproxil Fumarate tablets, used in the treatment of HIV infections in adults.

It should be noted that Tenofovir Disoproxil Fumarate tablet, is the generic equivalent of Gilead Science Inc's Viread Tablet 300mg and falls under the anti-retroviral segment.

The company has already obtained a license from Gilead to market Tenofovir products in 95 developing and least developed countries.

Prague  - French pharmaceutical group Sanofi-Aventis is set to take control of the Czech generics maker Zentiva as smaller shareholders agreed to sell their stakes in the company.

Czech financial group J&T, which holds a 7.6 per cent stake in Zentiva through a subsidiary, said Friday it had accepted Sanofi- Aventis' buyout offer of 1,150 koruny (51 dollars) per share.