- Venture Life has signed a new distribution agreement for four of its branded products with DEEF Pharmaceuticals covering the Saudi Arabian market.

Venture Life now has three partners with distribution rights for the Kingdom of Saudi Arabia (KSA) covering ten of its products.

The products covered under the new distribution agreement are Procto-eze for the treatment of haemorrhoids, Immobilice, for the treatment and prevention of head lice, as well as two products in the Guma-eze range that ease gum pain.

Under the terms, DEEF Pharmaceuticals has exclusive distribution rights for these products for 5 years in the market, is obliged to purchase annual minimum product volumes and will be responsible for funding and managing all on-going marketing expenses in KSA.

DEEF Pharmaceuticals is part of the Banaja Group of companies, which has a sales force that accesses pharmacies as well as other channels.

Banaja was founded in 1944 and has a diversified therapeutic product portfolio including Rx, OTC and lifestyle products. It sells products in the KSA territory for many well known partners including GSK, Roche, Pfizer, Sanofi, Actavis and Omega Pharma amongst others.

The Company expects that these products will be launched into the market towards the end of Q4 this year or beginning of Q1 2015, once registration is completed.

At 8:13am: [LON:VLG] Venture Life Group Plc Ord 0.3p share price was +1p at 106.5p

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