Pacira Pharmaceuticals, Inc.

10578 Science Center Drive
Suite 125
San Diego, CA 92121
(858) 625 2424

5 Sylvan Way
Parsippany, NJ 07054
(973) 254 3560

TAKING CARE OF PATIENTS, TODAY AND TOMORROW

SEC Filings

10-K
PACIRA PHARMACEUTICALS, INC. filed this Form 10-K on 03/01/2017
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PACIRA PHARMACEUTICALS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

NOTE 6—GOODWILL AND INTANGIBLE ASSETS (Continued)

 
 
Carrying Value
Balance at December 31, 2014
 
$
23,761

Percentage payments on collections of net sales of DepoBupivacaine products
 
7,119

Balance at December 31, 2015
 
30,880

Milestone payment triggered by collections of net sales of DepoBupivacaine products
 
8,000

Percentage payments on collections of net sales of DepoBupivacaine products
 
7,857

Balance at December 31, 2016
 
$
46,737

Intangible assets, net, consist of core technology, developed technology and trademarks and trade names acquired in the Acquisition and are summarized as follows (in thousands):
 
December 31, 2016
 
December 31, 2015
 
 
Amortizable Intangible Assets:
Gross
Carrying
Value
 
Accumulated
Amortization
 
Intangible
Assets, Net
 
Gross
Carrying
Value
 
Accumulated
Amortization
 
Intangible
Assets, Net
 
Estimated
Useful Life
Core technology
$
2,900

 
$
(2,900
)
 
$

 
$
2,900

 
$
(2,819
)
 
$
81

 
9 Years
Developed technology
11,700

 
(11,700
)
 

 
11,700

 
(11,700
)
 

 
7 Years
Trademarks and trade names
400

 
(400
)
 

 
400

 
(400
)
 

 
7 Years
     Total intangible assets
$
15,000

 
$
(15,000
)
 
$

 
$
15,000

 
$
(14,919
)
 
$
81

 
 
Annual amortization expense for intangibles for the years ended December 31, 2016, 2015 and 2014 was $0.1 million, $0.3 million and $0.8 million, respectively.
NOTE 7—ACCRUED EXPENSES
Accrued expenses consist of the following (in thousands):
 
December 31,
 
2016
 
2015
Compensation and benefits
$
11,228

 
$
11,944

Accrued operating expenses
16,538

 
14,601

Accrued royalties
3,822

 
3,731

Accrued interest
1,605

 
1,605

Product returns, rebates and other fees
3,473

 
3,494

Total
$
36,666

 
$
35,375

NOTE 8—DEBT
The composition of the Company’s debt and financing obligations is as follows (in thousands):
 
December 31,
 
2016
 
2015
3.25% convertible senior notes
$
118,531

 
$
118,533

Deferred financing costs
(1,276
)
 
(1,888
)
Discount on debt
(8,517
)
 
(12,605
)
Total debt, net of debt discount
$
108,738

 
$
104,040

Convertible Senior Notes
On January 23, 2013, the Company completed a private placement of $120.0 million in aggregate principal amount of 3.25% convertible senior notes due 2019, or the Notes, and entered into an indenture agreement, or the Indenture, with respect

F- 18

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Contact Investor Relations:
Susan Mesco
(973) 451-4030
Susan.Mesco@pacira.com


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