Iroko enters into licensing agreement with Laboratorios Saval for Zorvolex

As part of the deal, Laboratorios Saval will be responsible to secure regulatory and pricing approval as well as provide marketing and distribution of the product in Bolivia, Chile, Ecuador, Paraguay and Peru.

Earlier, Iroko entered into international licensing agreements for Zorvolex with other partners that cover the South American countries of Brazil, Colombia and Venezuela, as well as Mexico and countries in Central America.

Iroko Pharmaceuticals executive chairman of the Board and chief executive officer Osagie Imasogie said: "This agreement with Laboratorios Saval now means we have partnerships in more than 90% of South American territories for Zorvolex and will further expand the global reach of Iroko’s first low dose SoluMatrix NSAID.

"With the signing of this agreement, we now have the opportunity to introduce Zorvolex in more than 45 countries around the world."

In the US, Zorvolex is approved for the management of mild to moderate acute pain and osteoarthritis pain, and is available at pharmacies across the country.

The drug is also approved by the Republic of Lebanon Ministry of Public Health (MOPH) for these indications, and is now available in 18mg and 35mg dosage strengths by prescription.

Laboratorios Saval chairman and owner Emilio Saval said: "We are excited to be partnering with Iroko to bring this valuable treatment to South America, where effective low dose options are needed to treat patients suffering from acute and chronic pain conditions.

"We hope this partnership will lead to more patients gaining access to an innovative therapeutic treatment option."

The company noted that additional licensing agreements for Zorvolex cover countries across South America, as well as in the Middle East & North Africa (MENA) region, Southern African countries, Australia and New Zealand, and Indonesia.