Pacira Reports Preliminary Net EXPAREL® Sales of $80.4 Million for Second Quarter of 2018
July 10 2018 - 7:30AM
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) today reported
preliminary EXPAREL® (bupivacaine liposome injectable suspension)
net product sales of $80.4 million for the second quarter of 2018,
a 15 percent increase over EXPAREL net product sales of $69.8
million reported in the second quarter of 2017. During the second
quarter of 2018, average daily sales grew 11 percent, 16 percent,
and 18 percent for April, May, and June, respectively, compared
with the prior year.
“We are excited to report another consecutive quarter of
accelerating sales growth, representing the expanding adoption of
EXPAREL as an integral component of multimodal, non-opioid pain
management strategies in a variety of surgical procedures,” said
Dave Stack, chairman and chief executive officer of Pacira. “Our
Johnson & Johnson partnership is flourishing and we are
continuing to see a high level of engagement and enthusiasm around
the launch of EXPAREL as the first long-acting, single-dose nerve
block for upper extremity surgeries with increasing demand from new
and existing accounts. These robust results leave us highly
confident in the near- and long-term growth outlook for EXPAREL as
the only opioid-free, long-acting, local analgesic approved for
both infiltration and nerve block for postsurgical pain.”
The financial information included in this press release is
preliminary and subject to adjustment. It does not present all
information necessary for an understanding of the company’s
financial results for the second quarter of 2018. Pacira expects to
report its complete financial results for the second quarter of
2018, along with financial guidance for 2018, during the company’s
earnings call scheduled in August 2018.
About
Pacira
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) is a specialty
pharmaceutical company dedicated to advancing and improving
postsurgical outcomes for acute care practitioners and their
patients. The company’s flagship product, EXPAREL® (bupivacaine
liposome injectable suspension) was commercially launched
in the United States in April 2012. EXPAREL utilizes
DepoFoam®, a unique and proprietary product delivery technology
that encapsulates drugs without altering their molecular structure
and releases them over a desired period of time. To learn more
about Pacira, including the corporate mission to reduce
overreliance on opioids, visit www.pacira.com.
Important Safety InformationEXPAREL is
contraindicated in obstetrical paracervical block anesthesia. In
clinical trials, the most common adverse reactions (incidence ≥10%)
following EXPAREL administration were nausea, constipation, and
vomiting. EXPAREL is not recommended to be used in the following
patient population: patients <18 years old and/or pregnant
patients. Because amide-type local anesthetics, such as
bupivacaine, are metabolized by the liver, EXPAREL should be used
cautiously in patients with hepatic disease. Patients with severe
hepatic disease, because of their inability to metabolize local
anesthetics normally, are at a greater risk of developing toxic
plasma concentrations. EXPAREL is not recommended for the following
types or routes of administration: epidural, intrathecal, regional
nerve blocks, or intravascular or intra-articular use.
Non-bupivacaine-based local anesthetics, including lidocaine, may
cause an immediate release of bupivacaine from EXPAREL if
administered together locally. The administration of EXPAREL may
follow the administration of lidocaine after a delay of 20 minutes
or more. Formulations of bupivacaine other than EXPAREL should not
be administered within 96 hours following administration of
EXPAREL. Central Nervous System (CNS) Reactions: There have been
reports of adverse neurologic reactions with the use of local
anesthetics. These include persistent anesthesia and paresthesias.
CNS reactions are characterized by excitation and/or depression.
Cardiovascular System Reactions: Toxic blood concentrations depress
cardiac conductivity and excitability which may lead to
dysrhythmias sometimes leading to death. Allergic Reactions:
Allergic-type reactions (eg, anaphylaxis and angioedema) are rare
and may occur as a result of hypersensitivity to the local
anesthetic or to other formulation ingredients. Chondrolysis: There
have been reports of chondrolysis (mostly in the shoulder joint)
following intra-articular infusion of local anesthetics, which is
an unapproved use.
Forward Looking StatementsAny statements in
this press release about the company’s future expectations, plans,
outlook and prospects, and other statements containing the words
“believes,” “anticipates,” “plans,” “estimates,” “expects,”
“intends,” “may” and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including risks relating
to: the success of the company’s sales and manufacturing efforts in
support of the commercialization of EXPAREL; the rate and degree of
market acceptance of EXPAREL and the company’s other products; the
size and growth of the potential markets for EXPAREL and the
company’s ability to serve those markets; the company’s plans to
expand the use of EXPAREL to additional indications and
opportunities, and the timing and success of any related clinical
trials; the related timing and success of United States Food and
Drug Administration supplemental New Drug Applications; the outcome
of the U.S. Department of Justice inquiry; the company’s plans to
evaluate, develop and pursue additional DepoFoam-based product
candidates; clinical trials in support of an existing or potential
DepoFoam-based product; the company’s commercialization and
marketing capabilities; the company’s and Patheon UK Limited’s
ability to successfully and timely construct dedicated EXPAREL
manufacturing suites; and other factors discussed in the “Risk
Factors” of the company’s most recent Annual Report on Form 10-K
for the fiscal year ended December 31, 2017 and in other filings
that the company periodically makes with the SEC. In addition, the
forward-looking statements included in this press release represent
the company’s views as of the date of this press release. Important
factors could cause actual results to differ materially from those
indicated or implied by forward-looking statements, and as such the
company anticipates that subsequent events and developments will
cause its views to change. However, while the company may elect to
update these forward-looking statements at some point in the
future, it specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the company’s views as of any date subsequent to the
date of this press release.
Investor Contact:
Susan Mesco, (973) 451-4030
susan.mesco@pacira.com
Media Contact:
Coyne Public Relations
Alyssa Schneider, (973) 588-2270
aschneider@coynepr.com
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