Business
Pacira BioSciences Reports Preliminary Net Product Sales of $36.2 Million for February 2021
-- EXPAREL average daily sales at 103% of the prior year for the month of February 2021 -- PARSIPPANY, N.J., March 09, 2021 (GLOBE NEWSWIRE) -- Pacira
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"-- EXPAREL average daily sales at 103% of the prior year for the month of February 2021 -- PARSIPPANY, N.J., March 09, 2021 (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 of EXPAREL® (bupivacaine liposome injectable suspension) and iovera° of $35.6 million and $0.7 million, respectively, for the month of February 2021. EXPAREL average daily sales were 103 percent of the prior year for February 2021. “We are off to a terrific start for the year, with February EXPAREL sales surpassing a very strong comparative month in 2020 amid recent severe weather-related shutdowns in key markets and ongoing COVID-19 related challenges. EXPAREL growth continues to significantly outpace the recovery in the elective surgery market as utilization increases across a wide range of anesthesia-driven regional blocks and enhanced recovery after surgery protocols shift more complex, painful elective surgeries to the outpatient setting. We also continue to see a strong uptake in regional blocks for non-elective procedures given the market’s critical need for opioid-sparing approaches. Looking ahead, Pacira remains well-positioned to deliver robust top- and bottom-line growth as we further entrench EXPAREL as the leader in non-opioid postsurgical pain management and advance iovera° in key orthopedic settings,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. The company’s 2021 product sales continue to be 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. The company is also providing weekly EXPAREL utilization and elective surgery data within its investor presentation, which is accessible at investor.pacira.com. The financial information included in this press release is preliminary, unaudited and subject to adjustment....