Business
Pacira BioSciences Reports Preliminary Net Product Sales of $116.9 Million for the Third Quarter of 2020
-- EXPAREL average daily sales at 110% of the prior year for the third quarter and 110% of the prior year for the month of September -- PARSIPPANY, N.J., Oct.
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"-- EXPAREL average daily sales at 110% of the prior year for the third quarter and 110% of the prior year for the month of September --\n PARSIPPANY, N.J., Oct. 07, 2020 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (Nasdaq: PCRX), the leading provider of innovative non-opioid pain management options, today reported preliminary unaudited net product sales of EXPAREL® (bupivacaine liposome injectable suspension) and iovera° of $113.7 million and $2.7 million, respectively, for the third quarter of 2020. The company also reported preliminary unaudited net product sales of EXPAREL and iovera° of $39.5 million and $1.1 million, respectively, for the month of September 2020. EXPAREL average daily sales were 109 percent, 111 percent, and 110 percent of prior year levels for the months of July, August, and September, respectively. “We are very encouraged with our strong performance as revenue and claims data show EXPAREL weekly growth rates exceeding those of the elective surgery market due to its expanding role in shifting a variety of complex surgical procedures to the 23-hour stay environment and broadening utilization in non-elective procedures, such as cesarean sections, cardiothoracic and oncology surgeries. When the elective surgery market recovers to its normal pace, we expect EXPAREL revenue to experience further growth,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. “Demand for training around nerve and field blocks continues to grow and we remain on track to launch our state-of-the-art Innovation and Training Center in Tampa later this month. This facility will advance interactive, hands-on instruction around best practice field block techniques while improving patient care and enabling patient migration to the 23-hour stay environment.” During the second quarter of 2020, the company’s product sales were negatively impacted by the COVID-19 pandemic, which mandated significant postponement or suspension in the scheduling of elective surgical procedures resulting from public health guidance and government directives. Elective surgery restrictions began to lift on a state-by-state basis in April 2020. In order to provide greater transparency, the company will continue to report monthly intra-quarter unaudited net product sales until it has gained enough visibility around the impacts of COVID-19. Th...