PARSIPPANY, N.J.--(BUSINESS WIRE)--Jul. 14, 2015--
Pacira
Pharmaceuticals, Inc. (NASDAQ: PCRX) today announced the appointment
of Scott Braunstein, MD, to the newly created position of senior vice
president, strategy and corporate development. Dr. Braunstein brings
over 20 years of knowledge and experience from his time both as a
practicing physician and investor, as well as expertise from numerous
commercial, consulting and operational roles advising on strategy and
organizational objectives for biotechnology and pharmaceutical
companies. He will be responsible for evaluating, integrating and
optimizing the company’s strategic opportunities for the lead commercial
product EXPAREL® (bupivacaine liposome injectable suspension); the
company’s hospital-based sales franchise; the DepoFoam®-based internal
pipeline product candidates; and external in-licensing and acquisition
product candidates.
“We believe Scott will be a valuable addition to the management team as
Pacira continues to grow and mature,” said Dave Stack, president, chief
executive officer and chairman of Pacira. “Scott brings a distinguished
track record of success and a background uniquely tailored to guide,
innovate and follow-through on strategies maximizing both the internal
and external opportunities that best complement our sales organization
and Company goals.”
“It’s an exciting time to join Pacira,” said Dr. Braunstein. “Pacira is
doing important work in the hospital space with EXPAREL to proactively
curb the opioid abuse epidemic where it begins, and its other ongoing
and future initiatives have the potential to not only improve patient
care and support our customers in a dynamic hospital environment, but
also create long-term value for shareholders.”
Dr. Braunstein spent 12 years as a healthcare analyst and portfolio
manager at J.P. Morgan Asset Management, where he invested in and
conducted diligence on a wide variety of pharmaceutical products and
product candidates, pharmaceutical company strategies, business models
and management teams, providing stock recommendations for the entire
J.P. Morgan Asset Equity Group. He also served in a similar role at
Everpoint Asset Management immediately prior to joining Pacira. Earlier
in his career, Dr. Braunstein was an active lecturer and consultant for
several global pharmaceutical companies and provided academic
instruction as assistant clinical professor for Columbia University and
the Albert Einstein College of Medicine. He currently serves on the
Board of Esperion Therapeutics, Inc., STAT Medical and the Cornell
Alumni Association for the College of Agricultureand Life Sciences. Dr.
Braunstein earned his medical degree from the Albert Einstein College of
Medicine, completed his internal medical residency at Cornell
University-New York Hospital and conducted additional research in
immunology and wound healing from 1993 to 1994 at Rockefeller University.
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 flagship product,
EXPAREL® (bupivacaine liposome injectable suspension), indicated for
single-dose infiltration into the surgical site to produce postsurgical
analgesia, was commercially launched in the United States in April 2012.
EXPAREL and two other products have successfully utilized DepoFoam®, a
unique and proprietary product delivery technology that encapsulates
drugs without altering their molecular structure, and 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 currently
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. By utilizing the DepoFoam platform, a
single dose of EXPAREL delivers bupivacaine over time, providing
significant reductions in cumulative pain score with up to a 45 percent
decrease in opioid consumption; the clinical benefit of the opioid
reduction was not demonstrated. Additional information is available at www.EXPAREL.com.
Forward Looking Statements
Any statements in this press release about our future expectations,
plans, outlook and prospects, 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 use of EXPAREL to additional indications, including nerve
block, oral surgery and chronic pain, as well as pediatrics, and the
timing and success of any related clinical trials; 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; the outcome of the U.S. Department of Justice inquiry; 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, 2014, our Quarterly Report on Form 10-Q
for the quarter ended March 31, 2015, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150714005331/en/
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
