Business
Pacira BioSciences Reports Preliminary Net Product Sales of $41.7 Million for October 2020
-- EXPAREL average daily sales at 112% of the prior year for the month of October 2020 -- PARSIPPANY, N.J., Nov. 11, 2020 (GLOBE NEWSWIRE) -- Pacira
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"-- EXPAREL average daily sales at 112% of the prior year for the month of October 2020 --\nPARSIPPANY, N.J., Nov. 11, 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 $40.7 million and $1.0 million, respectively, for the month of October 2020.\n “While we are beginning to see encouraging signs of recovery, the COVID-19 pandemic continues to hinder the number of procedures performed in the elective surgery market. Despite these headwinds, EXPAREL has enjoyed five consecutive months of year-over-year growth, demonstrating the market’s overwhelming need for opioid-sparing postsurgical pain management. Importantly, EXPAREL growth rates are consistently and significantly exceeding those of the elective surgery market. We believe this is a particularly strong indicator of the expanding role EXPAREL is playing in shifting complex surgical procedures to the 23-hour stay environment, as well as broadening utilization in non-elective procedures, such as cesarean section, cardiothoracic and oncology surgeries. Given these trends, EXPAREL will be well positioned for more robust growth as the elective surgery market normalizes,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. The company’s 2020 product sales have been negatively impacted by the COVID-19 pandemic, which mandated 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 financial information included in this press release is preliminary, unaudited and subject to adjustment. It does not present all information necessary for an understanding of the company’s financial results for the fourth quarter or full year 2020. About Pacira BioSciences Pacira BioSciences, Inc. (Nasdaq: PCRX) is the leading provider of non-opioid pain management and regenerative health solutions dedicate...