Core Insights - Pacira BioSciences announced findings from two real-world studies demonstrating the economic benefits of EXPAREL in total knee arthroplasty (TKA) and spinal fusion, showing lower total costs of care compared to traditional analgesics [1][2] Study Findings - The studies included propensity score-matched cohorts evaluating outcomes on surgery day and through 30 days of follow-up in commercial and Medicare Advantage populations, revealing lower total costs and reduced healthcare resource utilization with EXPAREL [2] - In the spinal fusion study, the reductions in costs were primarily attributed to a shorter length of hospital stay for patients treated with EXPAREL [2] Specific Results from TKA Study - In the TKA study, EXPAREL was associated with significantly lower total costs compared to ropivacaine, with reductions of $409 in the commercial cohort and $1,359 in the Medicare Advantage cohort, both with P<0.001 [3] - The index procedure costs were also lower for EXPAREL, with reductions of $328 and $781 for commercial and Medicare Advantage cohorts respectively, both with P<0.0001 [3] - Additional findings included reduced home health utilization and lower inpatient admissions in the commercial population, with P<0.05 for all [3] Specific Results from Spinal Fusion Study - In the spinal fusion study, patients treated with EXPAREL had significantly lower mean total costs of $5,993.17 compared to non-LB analgesia, with P<0.05 [4] - The reduction in total medical costs was $6,001.19, also with P<0.05, and there were decreases in outpatient costs [4] - Patients treated with EXPAREL experienced a shorter length of stay by 1.83 days, with P<0.0001, and no differences in emergency department visits or inpatient readmissions [5] Company Commitment - Pacira is dedicated to advancing the economic understanding of postsurgical pain management through real-world evidence, emphasizing the value of non-opioid approaches like EXPAREL [3] - The findings support the role of EXPAREL in multimodal pain management strategies, aiming to improve patient outcomes and reduce economic barriers to access [3] Upcoming Presentations - Pacira will present these findings at the Orthopaedic Research Society (ORS) 2026 Annual Meeting, highlighting the economic advantages of EXPAREL in orthopedic procedures [1][3]

Core Insights - Pacira BioSciences reported a transformative year in 2025, achieving significant revenue growth and expanding reimbursement coverage for its flagship product, EXPAREL [4][6]. Group 1: Financial Performance - The company finished 2025 with $726 million in revenue, marking the highest gross margins in its history, while treating over 2.5 million patients [3][6]. - Fourth-quarter EXPAREL sales reached $155.8 million, reflecting approximately 7% volume growth compared to the previous year [9][12]. - For 2026, the company guided total revenue between $745 million and $770 million, with EXPAREL sales projected at $600 million to $620 million [22][24]. Group 2: Market Access and Reimbursement - Pacira exceeded its internal goal by ending 2025 with 102 million covered lives under CMS or commercial coverage outside the surgical bundle, which increased to about 110 million in early 2026 [1][6]. - The NOPAIN Act has been credited as a catalyst for reducing financial barriers to non-opioid postsurgical pain management, with 82% of surveyed physicians viewing it as important for non-opioid stewardship [2][6]. Group 3: Product Development and Pipeline - The company is entering a "data-rich" period with its pipeline, including upcoming clinical milestones for ZILRETTA, iovera°, and PCRX-201 [4][18]. - Pacira plans to initiate a Phase 2 study of PCRX-2002 in bunionectomy patients later this year, which is expected to complement EXPAREL [21]. Group 4: Intellectual Property and Partnerships - The company expanded its intellectual property estate to 21 patents and secured a volume-limited settlement with Fresenius, providing visibility through 2039 [5][16]. - A new partnership with LG Chem aims to commercialize EXPAREL in select Asia-Pacific countries, with revenue contributions expected to begin in 2027 [17]. Group 5: Operational Efficiency and Cost Management - Non-GAAP gross margin improved to 80% in the fourth quarter, attributed to better yields from enhanced production facilities [12][13]. - R&D expenses increased to $34.4 million in the fourth quarter, driven by ongoing development costs for various products [14].

Financial Data and Key Metrics Changes - In 2025, the company achieved $726 million in revenue, marking a significant increase compared to previous years, with the highest gross margins in its history at 80% for Q4 2025, up from 79% in Q4 2024 [5][19] - The fourth quarter sales for EXPAREL increased to $155.8 million from $147.7 million in 2024, reflecting a volume growth of approximately 7% [18] - Non-GAAP R&D expenses rose to $34.4 million in Q4 2025 from $22.0 million in the previous year, while SG&A expenses increased to $91.9 million from $70.6 million [20] Business Line Data and Key Metrics Changes - EXPAREL showed solid performance with volume-based growth driven by increased education and awareness, payer adoption, and demand across care sites [7][8] - ZILRETTA sales remained flat at $33 million in Q4 2025 compared to 2024, while iovera sales grew to $7 million from $6.5 million [18] Market Data and Key Metrics Changes - The company ended 2025 with 102 million lives covered outside the surgical bundle, indicating a significant shift in payer policies [15] - The strategic focus on expanding payer coverage in key markets resulted in over 7% volume growth in these areas compared to 2024 [15][16] Company Strategy and Development Direction - The company is committed to its 5x30 strategy, aiming to help 3 million patients annually by 2030, with a focus on expanding its pipeline and strategic partnerships [5][7] - A significant partnership with LG Chem was announced to commercialize EXPAREL in select Asia Pacific countries, with revenues expected to begin in 2027 [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, highlighting a clear strategic direction and improved operational efficiencies [4][12] - The company anticipates steady top-line growth in 2026, with revenue guidance set between $745 million and $770 million [22] Other Important Information - The company executed $150 million in stock repurchases, reducing outstanding shares to approximately 41 million [21] - The company is focused on maintaining a disciplined approach to capital deployment while investing in growth and innovation [21] Q&A Session Summary Question: What constitutes a clinically meaningful signal for the OA readout? - Management clarified that the primary focus of the study is safety, with secondary endpoints related to pain, stiffness, and function being evaluated [28][30] Question: What factors could lead to higher or lower EXPAREL sales guidance? - Management indicated that the steady growth observed in 2025 positions the company well for 2026, with potential market dynamics influencing sales [37][39] Question: What headwinds affected ZILRETTA's performance in 2025? - Management noted that prioritization of EXPAREL and restructuring of sales forces impacted ZILRETTA sales, but they expect growth in 2026 with a fully trained J&J sales team [58][60] Question: Will unexpected business development costs continue? - Management acknowledged that such costs may occur but emphasized a disciplined approach to investments and potential accretive deals [64][66]

Financial Data and Key Metrics Changes - In 2025, the company achieved $726 million in revenue, marking a significant increase compared to previous years, with the highest gross margins in its history at 80% for Q4 2025, up from 79% in Q4 2024 [5][20] - The fourth quarter sales for EXPAREL increased to $155.8 million from $147.7 million in 2024, reflecting a volume growth of approximately 7% [19] - Non-GAAP R&D expenses rose to $34.4 million in Q4 2025 from $22.0 million in the previous year, while SG&A expenses increased to $91.9 million from $70.6 million [21] Business Line Data and Key Metrics Changes - EXPAREL showed solid performance with volume-based growth driven by expanding education and awareness, increasing commercial payer adoption, and growing demand across care sites [6][19] - ZILRETTA sales remained flat at $33 million in Q4 2025 compared to 2024, while iovera sales grew to $7 million from $6.5 million [19] Market Data and Key Metrics Changes - The company ended 2025 with 102 million lives covered outside of the surgical bundle, indicating a significant shift in payer policies and access to EXPAREL [7][16] - The strategic focus on key markets with high procedural volumes resulted in over 7% volume growth in these markets compared to 2024 [16] Company Strategy and Development Direction - The company is advancing its 5x30 strategy, aiming to help 3 million patients annually by 2030, with a clear focus on innovative, non-opioid pain management therapies [5][12] - Partnerships with J&J MedTech and LG Chem are expected to enhance market access and revenue growth, with LG Chem set to commercialize EXPAREL in select Asia Pacific countries [9][63] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, highlighting the successful execution of the NOPAIN Act and its positive impact on non-opioid stewardship [13][15] - The company anticipates steady top-line growth in 2026, with total revenue guidance set between $745 million and $770 million, and EXPAREL sales expected to be between $600 million and $620 million [23][24] Other Important Information - The company has strengthened its intellectual property estate to 21 patents, providing a solid foundation for EXPAREL's sustained growth [8] - The company executed $150 million in stock repurchases, reducing outstanding shares to approximately 41 million [22] Q&A Session Summary Question: What constitutes a clinically meaningful signal for the OA readout? - Management clarified that the primary focus of the PCRX-201 trial is safety, but they will also look for efficacy trends measured by key secondary endpoints [28][30] Question: What factors could lead to higher or lower EXPAREL sales guidance? - Management indicated that the guidance reflects a cautious approach due to potential headwinds in the elective procedure market, while also highlighting the positive indicators from their investments [37][39] Question: What are the barriers to adoption for EXPAREL? - Management noted that while reimbursement is improving, the focus is now on clinical adoption and ensuring that economic stakeholders recognize the value of EXPAREL [51][56] Question: What headwinds affected ZILRETTA's performance in 2025? - Management explained that prioritizing EXPAREL led to some disruption in ZILRETTA sales, but they expect growth in 2026 with a fully trained J&J sales team [59][61] Question: Will unexpected business development costs continue? - Management acknowledged that while there may be occasional unexpected costs, they are focused on disciplined investments that maximize shareholder value [65][68]

Core Insights - Pacira BioSciences reported record-high sales of EXPAREL, driven by a 7% volume growth, marking the strongest fourth-quarter performance in three years [1][4] - The company generated $726 million in total revenue for 2025, a 4% increase from $701 million in 2024, with EXPAREL net product sales reaching $575.1 million, up 5% from $549 million in the previous year [9][11] Financial Highlights - Fourth quarter revenues were $196.9 million, a 5% increase from $187.3 million in Q4 2024 [9][12] - GAAP net income for Q4 2025 was $1.6 million, or $0.04 per share, compared to $16 million, or $0.35 per share, in Q4 2024 [9][12] - Full-year GAAP net income was $7 million, or $0.16 per share, compared to a net loss of $99.6 million in 2024 [11][12] - Adjusted EBITDA for Q4 2025 was $38.7 million, down from $62.5 million in Q4 2024, while full-year adjusted EBITDA was $186.5 million, compared to $223.9 million in 2024 [9][19] Business Developments - The company appointed Samit Hirawat, M.D., to its Board of Directors, enhancing its leadership with over 25 years of clinical development experience [9][14] - A strategic partnership with LG Chem was established to expand the commercialization of EXPAREL in select Asia-Pacific markets, with LG Chem receiving exclusive rights to market the product in the region [9][14] Product Performance - EXPAREL sales in Q4 2025 were $155.8 million, a 5% increase from $147.7 million in Q4 2024 [9][12] - ZILRETTA net product sales were $33 million in Q4 2025, essentially flat compared to $33.1 million in Q4 2024, while iovera° sales increased by 8% to $7 million [11][12] - Total operating expenses for Q4 2025 were $194.5 million, up from $162.5 million in Q4 2024, driven by increased R&D and SG&A expenses [12][19] Future Guidance - For 2026, the company provided guidance of $600 to $620 million in EXPAREL net product sales and total revenue of $745 million to $770 million [20]

Core Insights - Pacira BioSciences, Inc. has appointed Dr. Samit Hirawat to its Board of Directors, expanding the board to 10 members [1][2] Company Overview - Pacira is focused on delivering innovative, non-opioid pain therapies aimed at transforming patient lives [4] - The company has three commercial-stage non-opioid treatments: EXPAREL, ZILRETTA, and iovera® [4] - EXPAREL is a long-acting local analgesic approved for various postsurgical pain management applications [4] - ZILRETTA is an extended-release injectable for managing osteoarthritis knee pain [4] - iovera® is a handheld device providing immediate, long-acting, drug-free pain control [4] - Pacira is advancing a pipeline of clinical-stage assets, including PCRX-201, a gene therapy in Phase 2 development for knee osteoarthritis [4] Leadership and Expertise - Dr. Hirawat brings over 25 years of clinical development and industry expertise, previously serving as Chief Medical Officer at Bristol Myers Squibb [2][3] - His experience includes overseeing global drug development and advancing transformative therapies across various therapeutic areas [2] - Dr. Hirawat has a strong academic background with over 150 peer-reviewed publications [3]

Company Overview - Pacira's mission is to deliver innovative non-opioid pain management therapies to transform lives, focusing on patient-centered care, scientific integrity, and employee well-being [3] - The company reported unaudited sales of $726 million for the previous year and has over 800 engaged employees [3] - Pacira has helped more than 18 million patients to date [3] Product Portfolio - The flagship product of Pacira is EXPAREL, a nerve block solution [4] - Other products include ZILRETTA, a long-acting corticosteroid for osteoarthritis pain, and iovera°, a medical device utilizing cryoneurolysis for pain management [4] Patient Impact - The company highlights success stories, such as a Division 1 soccer player who opted for a non-opioid solution due to family issues with opioid abuse, demonstrating the effectiveness of their products [5]

JP Morgan 44th Annual Healthcare Conference Frank D. Lee Chief Executive Officer PCRX | January 14, 2026 Forward-looking statements and where to find additional information Any statements in this presentation about Pacira's future expectations, plans, trends, outlook, projections and prospects, and other statements containing the words "anticipate," "believe," "can," "could," "estimate," "expect," "intend," "may," "plan," "project," "should," "will," "would," and similar expressions, constitute forward-look ...

Core Insights - Pacira BioSciences has partnered with LG Chem to expand access to opioid-sparing postsurgical pain control in select Asia-Pacific markets through the exclusive commercialization of EXPAREL [1][2] Company Overview - Pacira BioSciences is focused on delivering innovative, non-opioid pain therapies, with three commercial-stage products: EXPAREL, ZILRETTA, and iovera® [3] - EXPAREL is a long-acting local analgesic approved for various postsurgical pain management techniques [3] - ZILRETTA is an extended-release injectable for osteoarthritis knee pain management [3] - Iovera® is a handheld device providing immediate, long-acting, drug-free pain control [3] - The company is advancing a pipeline of clinical-stage assets, including PCRX-201, a gene therapy for osteoarthritis of the knee in Phase 2 development [3] Partnership Details - LG Chem will have exclusive rights to commercialize EXPAREL in the designated territories, leveraging its experience in orthopedic pain management [2] - Pacira will receive an undisclosed upfront payment, a transfer price, and tiered royalties on future sales by LG Chem [2] - LG Chem is responsible for obtaining regulatory approvals in the licensed territories, with plans to file for marketing authorizations in South Korea and Thailand within six months [2]

Core Insights - Pacira BioSciences reported record-high total revenue of $726.4 million for the year ended December 31, 2025, representing an increase from $701.0 million in 2024, driven by strong sales of EXPAREL and share repurchase activities [1][4][6] Revenue Highlights - Fourth quarter EXPAREL net product sales reached $155.8 million in 2025, up from $147.7 million in 2024, with a volume growth of 7 percent [8] - Full-year EXPAREL net product sales were $575.1 million in 2025, compared to $549.0 million in 2024, reflecting a 6 percent volume growth [8] - Fourth quarter ZILRETTA net product sales were $33.0 million in 2025, slightly down from $33.1 million in 2024 [8] - Fourth quarter iovera° net product sales increased to $7.0 million in 2025 from $6.5 million in 2024 [8] - Other revenue, including sales of bupivacaine liposome injectable suspension, was $1.1 million in the fourth quarter of 2025, compared to zero in the same period of 2024 [8] Share Repurchase Program - During the fourth quarter of 2025, the company repurchased 2.0 million shares of its common stock for $50.0 million, with $150.0 million remaining on its current share repurchase authorization [6] Strategic Outlook - The CEO emphasized the company's solid execution and progress in advancing its strategic priorities, positioning it for sustainable long-term success and significant revenue growth moving forward [2]