Business
Pacira BioSciences Reports Full-Year 2019 Preliminary Revenue of $421.0 Million
Fourth quarter preliminary revenue of $122.4 million increased 29% compared with 2018 PARSIPPANY, N.J., Jan. 09, 2020 (GLOBE NEWSWIRE) -- Pacira BioSciences,
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"Fourth quarter preliminary revenue of $122.4 million increased 29% compared with 2018\nPARSIPPANY, N.J., Jan. 09, 2020 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (NASDAQ: PCRX), a leading provider of innovative non-opioid pain management options, today reported preliminary unaudited net revenue of $421.0 million for 2019, a 25% increase compared with net revenue of $337.3 million reported for 2018. Preliminary fourth quarter net revenues were $122.4 million in 2019, as compared with $95.1 million in 2018.\n “2019 was a year of outstanding results led by strong EXPAREL® (bupivacaine liposome injectable suspension) revenue growth as it becomes a critical mainstay of anesthesiologists’ opioid-sparing strategies for a wide range of soft tissue and orthopedic procedures. In addition, we successfully advanced the initial commercial rollout of iovera°, which we believe positions us to become the preferred provider of opioid-sparing pain management for both inpatient and ambulatory surgeries,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. “As we look ahead to 2020 and beyond, we expect continued topline growth to drive substantial operating leverage and cash flow, providing us with significant financial flexibility to capitalize on internal and external growth opportunities that support our global leadership position in innovative, non-opioid pain management.” 2019 Full Year & Fourth Quarter Revenue Highlights Fourth quarter net product sales of EXPAREL/bupivacaine liposome injectable suspension were $118.6 million in 2019, compared to $94.7 million in 2018.Fourth quarter EXPAREL net product sales were $116.9 million in 2019, compared to $94.4 million in 2018. Sales of bupivacaine liposome injectable suspension to a third-party licensee for use in veterinary practice were $1.7 million in 2019, compared to $0.3 million in 2018.Full-year EXPAREL net product sales were $407.9 million in 2019, compared to $331.1 million in 2018. Sales of bupivacaine liposome injectable suspension to a third-party licensee for use in veterinary practice were $3.2 million in 2019, compared to $1.3 million in 2018.Fourth quarter iovera° net product sales were $3.2 million in 2019. Full-year iovera° net product sales were $7.9 million in 2019. Pacira began recognizing sales of iovera° in April 2019 after completing its acquisiti...