Iroko signs licensing deal with Aspen to market Zorvolex in Australia and New Zealand

Under the deal, Aspen will be responsible for securing regulatory and pricing approval, as well as the marketing and distribution of the drug.

Iroko Pharmaceuticals president and CEO John Vavricka said: "The agreement with Aspen Pharma Pty Ltd marks Iroko’s sixth international licensing deal this year, as we continue to focus on bringing Zorvolex to markets outside the US , which will now include Australia and New Zealand.

"Aspen Pharma Pty Ltd is a great addition to the reputable group of companies that we are partnering with on the international expansion of our inaugural brand."

The US Food and Drug Administration (FDA) has approved Zorvolex for the management of mild to moderate acute pain and osteoarthritis pain.

Currently, Zorvolex is not approved for marketing in any other country. The company will continue to retain all marketing rights to the drug in the US.

Since late 2013, Iroko has entered into six strategic agreements with pharmaceutical companies across the world, under which the parties secured the exclusive rights to market and sell Zorvolex in countries including the Middle East and North Africa (MENA), Indonesia and specified countries in Latin America, including Mexico and Brazil.

In addition, the company’s partner Algorithm submitted a new drug application in July 2014, for Zorvolex with the Republic of Lebanon Ministry of Public Health (MOPH), marking the first filing acceptance outside of the US.