Q1 2025 Pacira Biosciences Inc Earnings Call Transcript
Key Points
- Pacira BioSciences Inc (PCRX) successfully settled its patent infringement litigation for EXPAREL, extending exclusivity to 2039.
- The company reported a 7% increase in first-quarter average daily EXPAREL sales and volumes compared to 2024.
- Pacira BioSciences Inc (PCRX) expanded its EXPAREL patent estate, listing its 18th patent in the FDA's Orange Book.
- The acquisition of GQ Bio added a novel platform, a pre-clinical portfolio, and a talented research team to the company.
- The company announced a $300 million stock repurchase program, doubling the previous authorization, indicating confidence in its growth outlook.
- First-quarter sales for ZILRETTA declined to $23.3 million from $25.8 million in 2024, impacted by the transition to new sales forces.
- The adoption of NOPAIN reimbursement is expected to take time, with significant traction anticipated only in the second half of the year.
- Non-GAAP SG&A expenses increased to $76.2 million from $63.8 million last year, due to investments in commercial and market access initiatives.
- The company faces logistical challenges in hospital systems benefiting from NOPAIN, requiring efforts to expedite adoption.
- EXPAREL's pricing was mostly flat, with potential mid-single-digit impacts from GPO contracts coming online.
Good day. Thank you for standing by. Welcome to the first-quarter 2025 Pacira Biosciences earnings conference call.
(Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to our first speaker today, Susan Mesco, Head of Investor Relations. Please go ahead.
Thank you. Good afternoon, everyone. Welcome to today's conference call to discuss our first-quarter 2025 financial results.
Joining me are Frank Lee, Chief Executive Officer; Jonathan Slonin, Chief Medical Officer; and Shawn Cross, Chief Financial Officer. Tony Molloy, Chief Legal & Compliance Officer; and Brendan Teehan, Chief Commercial Officer are also here for today's question-and-answer session.
Before we begin, let me remind you that this call will include forward-looking statements, subject to the Safe Harbor provisions of Federal Securities Laws. Such statements represent our judgment as of today and may involve risks and
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