Business
Pacira BioSciences Reports Preliminary Net Product Sales of $54.9 Million for October 2022
-- EXPAREL average daily sales for October 2022 were 106 percent of October 2021 -- TAMPA, Fla., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc.
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"-- EXPAREL average daily sales for October 2022 were 106 percent of October 2021 -- TAMPA, Fla., Nov. 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 of $54.9 million for the month of October 2022. The company’s net product sales include EXPAREL® (bupivacaine liposome injectable suspension), ZILRETTA® (triamcinolone acetonide extended-release injectable suspension), and the iovera° system. The company began recognizing sales of ZILRETTA in November 2021 after completing its acquisition of Flexion Therapeutics, Inc. “We continue to execute from a position of financial strength having recently reported adjusted EBITDA of $55 million in the third quarter of 2022 as EXPAREL continues to drive significant and durable operating cash flows. We remain well positioned for near- and long-term value creation as we grow revenue through increased market penetration, expansion into new indications, and enhanced reimbursement while simultaneously advancing new product development opportunities,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. “Even with continued near-term volatility in the marketplace, we remain confident in steady double-digit growth potential for EXPAREL and our entire portfolio of non-opioid pain management solutions as we expect our newly announced partnerships, such as our agreement with Sevāredent for oral and maxillofacial procedures, to take hold and begin to deliver on the promise of these collaborations. Moving forward, we remain steadfast in executing our strategy and look forward to 2022 being another record year for Pacira,” continued Mr. Stack. October 2022 Preliminary Net Product Sales Highlights EXPAREL net product sales were $45.0 million, compared with $42.5 million for October 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 October 2022 were 106 percent of October 2021. There were 21 EXPAREL selling days in October 2022 and October 2021.ZILRETTA net product sales were $8.6 million for October 2022. ZILRETTA sales in October 2021 occurred prior to the completi...