PARSIPPANY, N.J.--(BUSINESS WIRE)--Jan. 8, 2015--
Pacira
Pharmaceuticals, Inc. (NASDAQ: PCRX) today provided its unaudited
EXPAREL® and total revenue estimates for the fourth quarter and
full-year 2014.
“We are pleased with the continued success of EXPAREL in the fourth
quarter, growth over the previous quarter and growth for the year, which
we expect to provide the basis of a strong 2015,” said Dave Stack,
president, chief executive officer and chairman of Pacira. “We believe
EXPAREL is a significant brand based on our current infiltration
indication, as well as future opportunities that may further provide
much needed non-opioid treatment options for pain in order to better
address the opioid abuse epidemic in the United States.”
EXPAREL Revenue
-
Fourth Quarter 2014: Pacira expects $59.0 million in net
revenue for EXPAREL in the fourth quarter of 2014, which represents an
increase of:
-
93 percent over $30.5 million in the fourth quarter of 2013.
-
18 percent sequentially over $50.2 million in the third quarter of
2014.
-
Full-Year 2014: Pacira also expects $188.5 million in net
revenue for EXPAREL in 2014, a 147 percent increase over $76.2 million
in 2013.
Total Revenue
-
Fourth Quarter 2014: Pacira expects total revenues of $61.8
million in the fourth quarter of 2014, which represents an increase of:
-
84 percent over $33.6 million in the fourth quarter of 2013.
-
19 percent sequentially over $52.0 million in the third quarter of
2014.
-
Full-Year 2014: Pacira also expects total revenues of $197.7
million in 2014, a 131 percent increase over $85.6 million in 2013.
Pacira will provide final financial results and additional information
on its financial performance in conjunction with the fourth quarter and
year-end 2014 earnings press release and conference call anticipated in
late February.
About Pacira
Pacira Pharmaceuticals, Inc. (NASDAQ: PCRX) is a specialty
pharmaceutical company focused on the clinical and commercial
development of new products that meet the needs of acute care
practitioners and their patients. The company’s current emphasis is the
development of non-opioid products for postsurgical pain control, and
its lead product, EXPAREL® (bupivacaine liposome injectable suspension),
was commercially launched in the United States in April 2012. EXPAREL
and two other products have utilized the Pacira proprietary product
delivery technology DepoFoam®, a unique platform that encapsulates drugs
without altering their molecular structure and then releases them over a
desired period of time. Additional information about Pacira is available
at www.pacira.com.
About EXPAREL®
EXPAREL (bupivacaine liposome injectable suspension) is indicated for
single-dose infiltration into the surgical site to produce postsurgical
analgesia. The product combines bupivacaine with DepoFoam, a proven
product delivery technology that delivers medication over a desired time
period. EXPAREL represents the first and only multivesicular liposome
local anesthetic that can be utilized in the peri- or postsurgical
setting in the same fashion as current local anesthetics. By utilizing
the DepoFoam platform, a single dose of EXPAREL delivers bupivacaine
over time, providing significant reductions in cumulative pain scores
with a 45% decrease in opioid consumption; the clinical benefit of the
opioid reduction was not demonstrated. Additional information is
available at www.EXPAREL.com.
Important Safety Information
EXPAREL is contraindicated in obstetrical paracervical block anesthesia.
EXPAREL has not been studied for use in patients younger than 18 years
of age. 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.
Other formulations of bupivacaine should not be administered within 96
hours following administration of EXPAREL. Monitoring of cardiovascular
and neurological status, as well as vital signs should be performed
during and after injection of EXPAREL as with other local anesthetic
products. 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. In clinical
trials, the most common adverse reactions (incidence greater-than or
equal to 10%) following EXPAREL administration were nausea,
constipation, and vomiting.
Please see the full Prescribing Information for more details available
at http://www.exparel.com/pdf/EXPAREL_Prescribing_Information.pdf.
Forward Looking Statements
Any statements in this press release about our future expectations,
plans and prospects, including statements about our expected revenues,
and other statements containing the words “believes,” “anticipates,”
“plans,” “estimates,” “expects,” 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
our sales and manufacturing efforts in support of the commercialization
of EXPAREL; the rate and degree of market acceptance of EXPAREL; the
size and growth of the potential markets for EXPAREL and our ability to
serve those markets; our plans to expand the indications of EXPAREL,
including nerve block, oral surgery, chronic pain or repeat
administration, pediatrics and the related timing and success of a
United States Food and Drug Administration supplemental New Drug
Application; the adverse effects and impacts of FDA warning letters; our
plans to evaluate, develop and pursue additional DepoFoam-based product
candidates; clinical studies in support of an existing or potential
DepoFoam-based product; our plans to continue to manufacture and provide
support services for our commercial partners who have licensed
DepoCyt(e); our commercialization and marketing capabilities; our and
Patheon UK Limited’s ability to successfully and timely construct
dedicated EXPAREL manufacturing suites; and other factors discussed in
the “Risk Factors” of our most recent Annual Report on Form 10-K for the
fiscal year ended December 31, 2013, and in other filings that we
periodically make with the SEC. In addition, the forward-looking
statements included in this press release represent our views as of the
date of this press release. Important factors could cause our actual
results to differ materially from those indicated or implied by
forward-looking statements, and as such we anticipate that subsequent
events and developments will cause our views to change. However, while
we may elect to update these forward-looking statements at some point in
the future, we specifically disclaim any obligation to do so. These
forward-looking statements should not be relied upon as representing our
views as of any date subsequent to the date of this press release.

Source: Pacira Pharmaceuticals, Inc.
Company Contact:
Pacira Pharmaceuticals, Inc.
Jessica
Cho, 973-254-3574
or
Media Contact:
Pure
Communications, Inc.
Susan Heins, 864-286-9597