Business
Pacira BioSciences Reports Preliminary Net Product Sales of $42.3 Million for August 2021
-- Expanding EXPAREL utilization continues to drive growth with average daily sales at 109% of August 2020 -- -- More than nine million patients treated with
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"-- Expanding EXPAREL utilization continues to drive growth with average daily sales at 109% of August 2020 -- -- More than nine million patients treated with EXPAREL as of August 2021 -- PARSIPPANY, N.J., Sept. 15, 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. EXPAREL® (bupivacaine liposome injectable suspension) net product sales increased 15 percent to $41.4 million for the month of August 2021, compared with $36.1 million for the prior year. Net product sales of iovera° increased 13 percent to $0.9 million for the month of August 2021, compared with $0.8 million for the prior year. EXPAREL average daily sales for the month of August 2021 were 109 percent of August 2020. The company reports average daily growth rates for EXPAREL to account for differences in the number of selling days per reporting period. EXPAREL selling days were 22 in August 2021 and 21 in August 2020. “We continue to solidify our leadership position in opioid-sparing pain management with EXPAREL now having treated more than nine million patients since launch with penetration increasing across all target market segments,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. “EXPAREL utilization continues to significantly outpace the recovery of the elective surgery market, which is facing additional pandemic-related challenges this summer with regional surges in delta variant cases, staffing shortages, and surgical fatigue from care teams addressing significant procedure backlogs. We expect these variables to subside and the fourth quarter to reflect improving market dynamics.” “From a competitive standpoint, we have not experienced impact from new market entrants and EXPAREL remains extremely well positioned given its broad efficacy label that spans infiltration, field blocks and brachial plexus nerve block. In addition, a pristine safety profile and proven ability to reliably facilitate surgical migration to outpatient sites of care continue to be hallmarks of EXPAREL adoption across pediatric and adult settings. Looking ahead, we remain confident in our ability to achieve our five-year objectives and deliver topline annual growth in the high teens with op...