Business
Pacira BioSciences Reports Preliminary Second Quarter 2022 Revenue of $169.4 Million
EXPAREL average daily sales at 105% of the prior year for the second quarter and 103% of the prior year for the month of June TAMPA, Fla., July 14, 2022
About this update from Pacira Biosciences, Inc.
[{"type":"text","content":"EXPAREL average daily sales at 105% of the prior year for the second quarter and 103% of the prior year for the month of June\nTAMPA, Fla., July 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 revenues of $169.4 million for the second quarter of 2022, compared with $135.6 million for the second 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. The company began recognizing sales of ZILRETTA in November 2021 after completing its acquisition of Flexion Therapeutics, Inc. “We continue to execute our growth strategy and are pleased to have posted record sales in the second quarter. In mid-June, EXPAREL sales trends strengthened despite ongoing pockets of persistent labor shortages and pandemic-related disruptions facing the elective surgery market. This was augmented by ZILRETTA sales, which underscore the successful integration of this synergistic product,” said Dave Stack, chairman and chief executive officer of Pacira BioSciences. “EXPAREL has continued to outpace the recovery of the elective surgery market and we are seeing expanding utilization across all target markets and sites of care, with particularly robust growth within outpatient sites of care. We continue to drive education and awareness around the value of ZILRETTA and iovera° as both complementary and standalone non-opioid solutions for managing osteoarthritis pain and remain confident in the long-term growth opportunity for both products.” “On the clinical front, we remain on track with activities advancing according to plan. We have completed enrollment in the first of two studies evaluating EXPAREL as a lower extremity nerve block and we expect to complete enrollment in the second study in the coming weeks. We are also finalizing the design of our label expansion studies for ZILRETTA in shoulder osteoarthritis and type 2 diabetes. In addition, we are preparing to meet with the U.S. Food and Drug Administration (FDA) to discuss the design of our Phase 3 registration study for iovera° as a treatment for spasticity. With a complementary portfolio ...