Business
Pacira BioSciences Reports Preliminary Net Product Sales of $57.5 Million for November 2022
EXPAREL sales were 99 percent and unit volumes were 104 percent of November 2021 TAMPA, Fla., Dec. 13, 2022 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc.
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"EXPAREL sales were 99 percent and unit volumes were 104 percent of November 2021\nTAMPA, Fla., Dec. 13, 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 $57.5 million for the month of November 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. “As many of our large hospital customers are facing unprecedented financial challenges, we have rolled out a number of new programs to make EXPAREL more readily available to a broader range of potential new patients. Key programs include an expanded contracting strategy offering single-digit discounting to many of our large hospital customers and the implementation of 340B pricing, which opens up access to 5,200 new accounts. In addition, our collaboration with Sevāredent is providing access to more than 1,800 oral and maxillofacial surgery facilities, allowing us to build a new customer base within this surgical specialty,\" said Dave Stack, chairman and chief executive officer of Pacira BioSciences.\"With expanding manufacturing capacity and improving gross margins, we have an incentive to sell every EXPAREL unit we can manufacture. These programs are a win-win that should significantly drive EXPAREL volume growth and more than offset the single-digit impact to our net selling price. We expect these programs to be accretive to net revenues in 2023 and beyond as we access a much larger customer base representing thousands of new patients. Most importantly, these programs allow more patients to benefit from EXPAREL and advances our mission to provide a non-opioid pain management solution to as many patients as possible,” continued Mr. Stack. November 2022 Preliminary Net Product Sales Highlights EXPAREL net product sales were $46.0 million, compared with $46.5 million for November 2021. EXPAREL continues to outperform a flat surgical market with unit volumes up four percent over November 2021. Volume growth was offset by a lower net selling p...