Themis Medicare Ltd has signed a long-term business Agreement effective November 17, 2004 with Schering-Plough Animal Health Corporation-USA (SPAH), the worldwide animal health business of Schering-Plough Corporation, for a new drug delivery system, the company informed BSE.

Among other non-disclosable terms in the agreement, 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, which SPAH would market in all the countries of the world, except India.