Pacira BioSciences, Inc. reported a total revenue of $700.97 million for the fiscal year ending December 31, 2024, marking a 4% increase from $674.98 million in 2023. The growth was primarily driven by a 2% rise in net product sales of EXPAREL, which generated $548.96 million, and a 6% increase in ZILRETTA sales, totaling $118.09 million. The company also saw a significant 16% increase in sales of iovera°, which reached $22.81 million. However, the company recorded a net loss of $99.6 million, largely due to a goodwill impairment charge of $163.2 million following the approval of a generic competitor to EXPAREL and a court ruling invalidating one of its patents.
In terms of operational developments, Pacira has been actively expanding its product portfolio and market presence. The company launched its 5x30 strategic growth plan in January 2025, aiming to deliver products to over three million patients annually and achieve a double-digit compounded annual growth rate in product revenues by 2030. Additionally, Pacira completed the acquisition of GQ Bio Therapeutics GmbH in February 2025, which is expected to enhance its gene therapy capabilities and align with its growth strategy. The company also received FDA clearance for a new Smart Tip for the iovera° device, designed to manage chronic low back pain, further expanding its product offerings.
Pacira's workforce consisted of 790 employees as of December 31, 2024, with no labor union representation. The company has been focusing on enhancing its sales and marketing efforts, particularly in anticipation of the implementation of the Non-Opioids Prevent Addiction in the Nation (NOPAIN) Act, which mandates Medicare reimbursement for non-opioid products used in outpatient surgical settings starting January 1, 2025. This legislative change is expected to positively impact the adoption rates of EXPAREL and iovera°.
Looking ahead, Pacira anticipates continued growth driven by its strategic initiatives and product innovations. The company aims to leverage its expanded manufacturing capabilities and the anticipated benefits from the GQ Bio acquisition to enhance its product pipeline. However, challenges remain, including the need to navigate a competitive landscape and manage its substantial debt, which totaled $595.3 million as of December 31, 2024. The company is committed to maintaining compliance with financial covenants and exploring additional financing options to support its growth objectives.
About Pacira BioSciences, Inc.
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