Oxford Pharmascience receives three more orders from Ache worth €357,000
Oxford Pharmascience (LON:OXP) has received three new orders under its agreement with Brazilian pharmaceutical firm Ache, it emerged today.
After completing the first shipment in August this year, the firm has received three subsequent orders from Ache valued at €119,000 each, one of which is currently shipping with the other two to be shipped in February next year, it said.
The first order was worth £105,000 and was produced and dispatched in advance of sales.
Aché Laboratórios Farmacêuticos SA is one of Brazil's largest pharmaceutical companies.
It distributes more than 250 brands of prescription and generic drugs and OTC products.
Under the terms of the seven year agreement announced in April, the company will supply Ache with healthcare products which will be sold under a new women's health brand, called 'Inellare'.
The first is a Calcium and Vitamin D product based on the firm's technology, which allows for a very rapid dissolution of active ingredients.
The company expects to use its own IP to develop a number of additional products for Ache.
Nigel Theobald, the firm's chief executive, said: "These new orders demonstrate the success Ache is seeking to achieve with the product and the significant level of demand in this rapidly growing market.
"Ache is a key operator in Brazil with a high quality range of offerings, and this latest development is an excellent endorsement of our own product range."
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