Agreement for US sales of MoxDuo® IR to address the $2.5 billion acute pain market in 2012

Sydney, Australia and Bedminster, New Jersey – QRxPharma Limited (ASX: QRX and OTCQX: QRXPY) announced today execution of a binding Letter of Intent (LOI) with Actavis Inc. for the formation of a strategic partnership to commercialise MoxDuo IR in the US acute pain marketplace.

MoxDuo IR is a patented 3:2 ratio fixed dose combination of morphine and oxycodone. Actavis Inc. is a subsidiary of Actavis Group, hf a privately held company based in Europe with 10,000 employees and annual global sales in excess of EUR 1.8 billion. Actavis
Group is the world’s fourth largest generic pharmaceutical company with a growing franchise in branded products.

The launch of MoxDuo IR in the US is projected to occur in 3Q CY2012, and pre-launch preparations will begin immediately.