REG - Venture Life Group - Alliance Pharma contract expansion and extension

Venture LifeAnnouncement

09/05/2018 07:05

2018-05-09T06:01:28.551Zreuters.comtag:reuters.com,2018-05-09:newsml_RSI4281Na:13TXT
This file is provided for EAP sample purposes only; it's structure and detail are subject to change, and should not be used as a definitive reference for actual development and processing.2018-05-09T06:01:28.551Z2018-05-09T06:01:28.551Z____UCDP:parsn_lse_10.54.4.69_1.2.37235:2019-06-09T06:01:28.551Z3RSI4281NaREG - Venture Life Group  - Alliance Pharma contract expansion and extensionHealthcare (TRBC level 1)Pharmaceuticals & Medical Research (TRBC level 2)LEGACY: Pharmaceuticals (TRBC level 3)LEGACY: Generic & Specialty Pharmaceuticals (TRBC)Pharmaceuticals (NEC) (TRBC level 5)Pharmaceuticals (TRBC level 4)Western EuropeUnited KingdomEuropeSuggested SourcesNews AnnouncementsRegulatory Corporate News AnnouncementsCompany NewsEurope daily earnings hits & missesVenture Life Group PLC








RNS Number : 4281N
Venture Life Group PLC
09 May 2018
 

Venture Life Group plc
("Venture Life" or "the Company")
 
Alliance Pharma contract expansion and extension
 
 
Venture 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.
 
Alliance 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.
Venture 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.
Jerry 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 positive news over the coming months."
 
Peter Butterfield, CEO of Alliance Pharma plc commented: "We are actively fostering longer term relationships with our key strategic suppliers and are pleased to extend our relationship with Venture Life. Their consistent service and quality excellence will play a pivotal role in delivering growth and unlocking future benefits for both sides."

 
Enquiries
 




Venture Life Group PLC


+44 (0) 1344 578 004




Jerry Randall, Chief Executive Officer








Adrian Crockett, Chief Financial Officer
 








Northland Capital Partners Limited (Nominated Adviser and Joint Broker)


+44 (0) 20 3861 6625




Matthew Johnson/Edward Hutton (Corporate Finance)








Bob Pountney (Corporate Broking)


















Turner Pope Investments (TPI) Ltd (Joint Broker)


+44 (0) 20 3621 4120




Andy Thacker


















Walbrook PR


venturelife@walbrookpr.com or +44 (0) 20 7933 8780




Paul McManus/Anna Dunphy


+44 (0) 7980 541 893 / +44 (0) 7876 741 001









 
 
 



This information is provided by RNS
The company news service from the London Stock Exchange
 
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