Pacira Biosciences Reports 3.9% Revenue Growth

By Bobby Samwell • Friday, January 10 15:22 • Permanent Link

Pacira Biosciences, Inc. has announced its preliminary unaudited total revenue of $701.0 million for the year ended December 31, 2024, compared with $675.0 million for the year ended December 31, 2023. This represents an increase of $26.0 million or approximately 3.9% year-over-year.

In terms of product revenue, the company reported a double-digit compounded annual growth rate. The fourth quarter exparel net product sales increased to $147.7 million in 2024 from $143.9 million in 2023. Additionally, the fourth quarter zilretta net product sales increased to $33.1 million in 2024 from $28.7 million in 2023, and the fourth quarter iovera° net product sales increased to $6.5 million in 2024 from $6.0 million in 2023.

For the full year, exparel net product sales increased to $549.0 million in 2024 from $538.1 million in 2023. Zilretta net product sales increased to $118.1 million in 2024 from $111.1 million in 2023, and iovera° net product sales increased to $22.8 million in 2024 from $19.7 million in 2023. Other revenue, including sales of bupivacaine liposome injectable suspension and royalties, also saw an increase to $11.1 million in 2024 from $6.1 million in 2023.

The company also announced its five-year growth-oriented plan, "5x30," with objectives that include treating more than three million patients per year, achieving double-digit compounded annual growth rate in product revenue, improving profitability by five percentage points in gross margin over 2024, expanding the clinical pipeline with five novel programs in development, and establishing five partnerships including pipeline and commercial agreements.

The financial information provided in the press release is preliminary, unaudited, and subject to adjustment. Pacira expects to report its complete financial results for the fourth quarter and full-year 2024, along with the company’s financial guidance, later in the first quarter of 2025. As a result of these announcements, the company's shares have moved 11.0% on the market, and are now trading at a price of $20.61. For more information, read the company's full 8-K submission here.

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