23rd Sep 2014 06:54
LONDON (Alliance News) - Venture Life Group PLC said Tuesday that it has signed long-term distribution deals with four new partners which are expected to generate revenue of EUR5.1 million over the ten year terms of the agreements.
The consumer self-care group, which addresses the needs of the ageing population, said that it has signed deals with Valeant, Lyfis, Symphar and Deltapharma which give the distributors exclusive rights to sell certain Venture Life products across a total of nine European territories, including Germany.
Confident on the success of the new agreements, based on the contractual minimum purchase obligations of the partners, Venture Life said the combined deals should deliver minimum annual revenues of EUR0.24 million in year one, rising to EUR0.59 million in year five, and totalling EUR5.1 million over the ten year term of the agreements.
The deal with Valeant covers distribution of Venture Life's Procto-eze cream in six territories, including Germany. The company expects its first revenue from the deal in the first-half of 2015.
The Lyfis covers distribution of Venture Life's Procto-eze cream and cleanser in Iceland; first revenue from the deal is expected in the first-half of 2015.
Symphar will distribute the Procto-eze cream in Poland. Again, first revenue from the agreement is expected in the first-half of 2015.
The deal with Delatapharma will see Venture Life's Original Bioscalin shampoo and capsules distributed in Albania. The company expects its first revenue from this deal in the first-half of 2015.
Since the beginning of the year the group has signed a further seven product partnering deals, as well as four extension deals signed with existing partners for additional Venture Life products. The company now has distribution agreements covering all 14 of its current branded products in a combined 42 territories worldwide, and its unbranded products manufactured by Biokosmes are sold in over 10 countries.
"We are delighted to broaden further our partner base in Europe, and to see further validation of our model and products through a long term agreement with Valeant, a global top 50 pharmaceutical company," said Chief Executive Jerry Randall. "We are delivering increasing benefits from the merger with Biokosmes and are seeing gathering momentum in our branded portfolio as we broaden the distribution base of our branded products. We are particularly pleased with our first distribution deal in Germany, the fourth largest economy in the world and a major European territory."
By Alice Attwood; [email protected]; @AliceAtAlliance
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