Themis Medicare Ltd (TML) has merged with Artemis Biotech Ltd, a group company of TML as it has brought interest in the company's stock. Artemis was involved in biotechnology and fermentation activity mainly into statins business for export markets. TML has signed an agreement with Darou Pakhsh Pharma Chem. (DPPC) of Iran. TML will supply DPPC with the technology for producing various biotechnological products, mainly Statins.
TML has signed a long-term business agreement with also with US-based Schering-Plough Animal Health Corporation (SPAH) for a new drug delivery system. The company would transfer all ownership rights, title and interests in and to the patent rights and formulation to SPAH. The company would also be offering SPAH access to the technical know-how and the raw materials for development of the product by SPAH except India. Themis plans to continue with emphasis on clinical trials of new formulations and study of bioavailability and effect of various bio-pharmaceuticals. Its sales from biotech division i.e. mainly statins for the year 2005-06 stood at Rs 33 crore.