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Pacira BioSciences Announces Settlement of Government Investigation
Pacira to Pay $3.5 Million to Settle Various Claims with No Admission of Wrongdoing PARSIPPANY, N.J., July 28, 2020 (GLOBE NEWSWIRE) -- Pacira BioSciences,
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"Pacira to Pay $3.5 Million to Settle Various Claims with No Admission of Wrongdoing\nPARSIPPANY, N.J., July 28, 2020 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (Nasdaq: PCRX), a leading provider of innovative non-opioid pain management options, today announced settlement agreements that resolve all outstanding investigations and claims by the United States Department of Justice, the United States Department of Health and Human Services, various States Attorneys’ General, and a private plaintiff. This agreement concludes a five-year investigation related to the sale and marketing of EXPAREL® (bupivacaine liposome injectable suspension), the company’s long-acting non-opioid local analgesic for postsurgical pain management. \n The agreements were approved by United States District Court for the District of New Jersey. Under the various settlement agreements, Pacira will pay an aggregate of approximately $3.5 million. Pacira expressly denies all allegations and contentions and has admitted no wrongdoing in connection with the settlement agreements. “We are pleased to turn the page and put this multi-year investigation behind us,” said Kristen Williams, chief administrative officer and corporate secretary of Pacira. “Pacira is highly committed to legal and regulatory compliance while remaining steadfast in our commitment to providing a non-opioid option for postsurgical pain management.” About Pacira BioSciences Pacira BioSciences, Inc. (Nasdaq: PCRX) is a leading provider of non-opioid pain management and regenerative health solutions dedicated to advancing and improving outcomes for health care practitioners and their patients. The company’s long-acting local analgesic, EXPAREL® (bupivacaine liposome injectable suspension) was commercially launched in the United States in April 2012. EXPAREL utilizes DepoFoam®, a unique and proprietary product delivery technology that encapsulates drugs without altering their molecular structure, and releases them over a desired period of time. In April 2019, Pacira acquired the iovera°® system, a handheld cryoanalgesia device used to deliver precise, controlled doses of cold temperature only to targeted nerves. To learn more about Pacira, including the corporate mission to reduce overreliance on opioids, visit www.pacira.com. About EXPAREL EXPAREL (bupivacaine liposome injectable suspension) is ...