Aspen Pharmacare Holdings Ltd. and Mylan NV entered a deal to distribute certain prescription and over-the-counter products in Australia and New Zealand.

The agreement was struck between Canonsburg, Pa.-based Mylan, Aspen unit Aspen Global Inc. and the South African company's Australian subsidiaries, Aspen said in a filing.

The deal also includes an option by generics-maker Mylan to buy the portfolio of products for about A$188 million. The portfolio recorded sales of A$55 million for the year ended June 30.

Aspen Pharmacare develops specialty, branded and generic pharmaceutical products worldwide.