Pacira Reports Preliminary Unaudited Fourth Quarter and Full-Year 2023 Revenues

TAMPA, Fla., Jan. 04, 2024 (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 total revenue of $675.0 million for the year ended December 31, 2023, compared with $666.8 million for the year ended December 31, 2022.

“We enter 2024 with a strong financial and operational foundation to support our mission to expand patient access to opioid-sparing pain management,” said Frank D. Lee, chief executive officer of Pacira BioSciences. “In the coming year, we will continue to invest in long-term growth initiatives to ensure we are well positioned to fully capitalize on the substantial opportunities ahead of us, including the upcoming launch of EXPAREL in two key lower extremity nerve blocks in 2024 and expansion of patient access with the rollout of the NOPAIN Act in 2025.”

Fourth Quarter 2023 Preliminary Unaudited Revenue Highlights

• Fourth quarter EXPAREL net product sales of $143.9 million in 2023, compared with $138.0 million in 2022. Fourth quarter net product sales were comprised of average daily volume growth of 4 percent. Pacira reports average daily growth rates for EXPAREL to account for differences in the number of selling days per reporting period. There were 61 selling days in each of the fourth quarters of 2023 and 2022.
• Fourth quarter ZILRETTA net product sales of $28.7 million in 2023, compared with $28.0 million in 2022.
• Fourth quarter iovera° net product sales of $6.0 million in 2023, compared with $4.6 million in 2022.
• Other revenue, including sales of bupivacaine liposome injectable suspension and royalties, was $2.6 million in the fourth quarter of 2023, compared with $1.4 million in the fourth quarter of 2022.

2023 Full-Year Preliminary Unaudited Revenue Highlights

• Full-year EXPAREL net product sales of $538.1 million in 2023, compared with $536.9 million in 2022. Full-year net product sales were comprised of average daily volume growth of 5 percent, which was offset by a lower net selling price primarily due to the implementation of 340B Drug Pricing in October 2022 and other contracted relationships. There were 250 selling days in 2023 and 252 selling days in 2022.
• Full-year ZILRETTA net product sales of $111.1 million in 2023, compared with $105.5 million in 2022.
• Full-year iovera° net product sales of $19.7 million in 2023, compared with $15.3 million in 2022.
• Other revenue, including sales of bupivacaine liposome injectable suspension and royalties, was $6.1 million in 2023, compared with $9.1 million in 2022.

The financial information included in this press release is preliminary, unaudited, and subject to adjustment. It does not present all information necessary for an understanding of the company’s financial results for the fourth quarter or full year 2023. Pacira expects to report its complete financial results for the fourth quarter and full-year 2023, along with the company’s financial guidance and capital allocation strategy for 2024, in the first quarter of 2024.