Business
Alliance Pharma contract expansion and extension
Alliance Pharma contract expansion and extension.
About this update from Venture Life Group Plc
[{"type":"text","content":"\n \nRNS Number : 4281N Venture Life Group PLC 09 May 2018 \n\nVenture Life Group plc\n(\"Venture Life\" or \"the Company\")\n \nAlliance Pharma contract expansion and extension\n \n \nVenture Life (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the self-care market, announces that its manufacturing contract with Alliance Pharma plc (\"Alliance\") has been extended until 2025. In addition, the Company has secured additional business in excess of that currently undertaken for Alliance.\n \nAlliance is an international pharmaceutical company specialising in the acquisition and licensing of healthcare products. It has sales in more than 100 countries worldwide via direct sales, joint ventures and a wide network of distributors. It also has a strong track record of acquiring the rights to established niche products and currently owns or licenses the rights to approximately 90 pharmaceutical and consumer healthcare products.\nVenture Life manufactures a number of products for Alliance and the agreement confirms the extension of these arrangements to 31 December 2025. It also incorporates the manufacture of new products generating additional revenues to the Company of at least €1.6m annually. Subject to regulatory requirements and order timings, this new additional business will likely start at some point during H2 2018. This agreement will put the Company at the forefront of Alliance's strategic suppliers. It confirms significant additional business for the Company, as well as securing continued future business from Alliance. \nJerry Randall, CEO of Venture Life commented: \"We're delighted to announce this contract extension out to 2025. Alliance is one of our more significant customers and this agreement is a testament to the confidence they have in us and our ability to deliver. In addition to the significant additional business Alliance has agreed to place with us, a further positive is that as part of this deal, we have also been given the opportunity to pitch for future new business that Alliance may put out to tender. We are now well positioned as a valued strategic partner to Alliance and our strong relationship will give shareholders confidence in us as we go forward. We look forward to updating the market with further posi...