The following is a summary of the Pacira Biosciences Inc. (PCRX) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Pacira Biosciences reported third quarter EXPAREL sales of $132 million, a slight increase from $128.7 million in 2023.

• Gross margins for the third quarter were strong at 78%, driven by the performance of all three products: EXPAREL, ZILRETTA, and iovera.

• Adjusted EBITDA for the quarter was $54.7 million.

Business Progress:

• Pacira is focused on expanding the utilization of EXPAREL and enhancing market access initiatives including a new J code effective from January 2025 and separate CMS coverage under NOPAIN.

• The company has new partnerships with Vizient and upcoming GPO partnerships anticipated to cover over 80% of EXPAREL business.

• Advances in product portfolio include a registrational study for ZILRETTA in shoulder OA and a final hospital outpatient and ASC prospective payment system rule for iovera.

Opportunities:

• Pacira's commercial business is poised for growth with new reimbursement policies (NOPAIN) and a product-specific J code for EXPAREL, facilitating expanded access and streamlined billing.

• Strategic partnerships with major GPOs like Vizient, and subsequent market access initiatives substantially widen the opportunity for opioid-sparing pain management solutions.

• The clinical advancement of PCRX-201, a novel gene therapy for OA, presents a significant advancement opportunity, with promising early-stage clinical trial results.

Risks:

• Potential generic competition for EXPAREL could impact market share and price stability, although comprehensive patent strategies are in place to mitigate this risk.

• The full implementation of NOPAIN by healthcare providers might be slower than expected, possibly affecting the anticipated rapid uptake of reimbursement changes.

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