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LONDON (Alliance News) - Venture Life Group PLC said Wednesday that its manufacturing contract with Alliance Pharma PLC has been extended until 2025.
In addition, the self-care focused group secured additional business with the international pharmaceutical company.
Under the terms of the contract, Venture Life will continue the manufacturing of a number of Alliance Pharma products for further seven years. It will also add new products for a revenue of at least EUR1.6 million per year.
Jerry Randall, Venture Life chief executive officer, said: "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."
Shares in Venture Life were trading at 46.00 pence moving 9.5% higher. Shares in Alliance Pharma were down 0.3% at 80.60p.
