Business
Pacira BioSciences Reports Preliminary Net Product Sales for EXPAREL and iovera° of $46.0 Million for May 2022
EXPAREL average daily sales for May 2022 were 104 percent of May 2021 TAMPA, Fla., June 14, 2022 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (Nasdaq: PCRX),
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"EXPAREL average daily sales for May 2022 were 104 percent of May 2021\nTAMPA, Fla., June 14, 2022 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (Nasdaq: PCRX), the industry leader in its commitment to non-opioid pain management and regenerative health solutions, today reported preliminary unaudited net product sales for EXPAREL® (bupivacaine liposome injectable suspension) and iovera° for the month of May 2022. EXPAREL net product sales were $44.9 million, compared with $41.2 million for May 2021. The company also reports average daily growth rates for EXPAREL to account for differences in the number of selling days per reporting period. EXPAREL average daily sales for the month of May 2022 were 104 percent of May 2021. The number of EXPAREL selling days were 22 in May 2022 and 21 in May 2021. Net product sales of iovera° were $1.1 million for the month of May 2022, compared with $1.0 million for May 2021. “EXPAREL utilization continues to expand and support the market’s transition to outpatient sites of care. Importantly, EXPAREL is consistently and significantly outperforming the elective surgery market’s recovery, which is facing pockets of persistent pandemic-related disruptions and labor shortages,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. “In addition, ZILRETTA is performing well, with a steady increase in new users and more than 220 accounts added year-to-date. For iovera°, the broad rollout of our Generation-2 device is now underway, and we expect the product to return to more robust year-over-year growth later this year.” “Our state-of-the-art training facility in Tampa continues to broaden interest in all three products and accommodates the market’s growing demand for best-practice education around regional blocks. With the established growth and long-term potential of our product portfolio, we remain highly confident in our outlook for strong revenue and earnings growth as we further cement our leadership position in non-opioid pain management,” continued Mr. Stack. Since early 2020, the company’s revenues have been impacted by COVID-19 and pandemic-related challenges that included the significant postponement or suspension in the scheduling of elective surgical procedures due to public health guidance and government directives. While the degree of impact has diminished during the co...