Business
Pacira BioSciences Reports Preliminary Revenues of $157.4 to $158.4 Million for the First Quarter of 2022
EXPAREL achieved record net product sales of $51.2 million for month of March with average daily sales at 116% of the prior year TAMPA, Fla., April 12, 2022
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"EXPAREL achieved record net product sales of $51.2 million for month of March with average daily sales at 116% of the prior year\nTAMPA, Fla., April 12, 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 revenues of $157.4 to $158.4 million for the first quarter of 2022, compared with $119.0 million for the first quarter of 2021. The company’s revenues include net product sales of EXPAREL® (bupivacaine liposome injectable suspension), ZILRETTA® (triamcinolone acetonide extended-release injectable suspension), and the iovera° system. Pacira currently reports a range for preliminary quarterly ZILRETTA net product sales as the required adjustments for certain product rebate programs are calculated after the end of the quarter. The company began recognizing sales of ZILRETTA in November 2021 after completing its acquisition of Flexion Therapeutics, Inc. “We are excited to report that March marked record EXPAREL monthly sales, underscoring both our near- and long-term expectations for growth of this product. The increase was driven by the continued expansion and institutionalization of EXPAREL-based blocks as the foundation of enhanced recovery protocols across a variety of surgical procedures,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. “We are also making strong progress incorporating ZILRETTA into our operations and recently introduced a simplified pricing and discounting program for our customers. Preliminary findings from our collaborative observational studies have continued to highlight the potential benefits of iovera° cold therapy as a novel approach to treating spasticity. We look forward to meeting with the U.S. Food and Drug Administration later this year to discuss our regulatory strategy for broadening the iovera° label to include this indication.” First Quarter and March 2022 Preliminary Revenue Highlights EXPAREL net product sales were $129.2 million and $114.7 million for the first quarters of 2022 and 2021 and $51.2 million and $44.3 million for the months March 2022 and 2021, respectively. EXPAREL daily sales were 113 percent of the prior year for the first quarter and 116 percent for the month of March, respectively. The company reports a...