Pacira BioSciences, Inc. (Nasdaq: PCRX), the industry leader in its commitment to deliver innovative, non-opioid pain therapies to transform the lives of patients, today announced its five-year growth-oriented plan to accelerate its ongoing transition into an innovative biopharmaceutical organization and become a therapeutic area leader in musculoskeletal pain and adjacencies. In addition, the company reported 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.
5x30 Path to growth and value creation
The company intends to achieve the following five objectives by 2030 (“5x30”):
- Patients: More than three million patients treated per year
- Product revenue: Double-digit compounded annual growth rate
- Profitability: Five percentage point gross margin improvement over 2024
- Pipeline: Clinical pipeline expansion with five novel programs in development
- Partnerships: Establishing five partnerships including pipeline and commercial agreements
“We enter 2025 with a sharp focus on growth, operational excellence and a clear mission to deliver innovative, non-opioid pain therapies to transform the lives of patients,” said Frank D. Lee, chief executive officer of Pacira BioSciences. “Looking ahead, I am energized to lead Pacira during this exciting new chapter as we advance our 5x30 plan to address unmet patient needs in musculoskeletal pain and adjacencies. With a best-in-class commercial portfolio that is producing significant cash flow, we believe we are well equipped to extend our leadership in non-opioid pain management and transform Pacira into an innovative biopharmaceutical organization with a robust pipeline to support sustainable growth and enhanced value creation.”
Preliminary Unaudited Fourth Quarter Revenue Highlights
- Fourth quarter EXPAREL net product sales of $147.7 million in 2024, compared with $143.9 million in 2023. Volume growth and a price increase in 2024 were partially offset by a shift in vial mix and discounting associated with the company’s new group purchasing organization, or GPO, partnerships.
- Fourth quarter ZILRETTA net product sales of $33.1 million in 2024, compared with $28.7 million in 2023.
- Fourth quarter iovera° net product sales of $6.5 million in 2024, compared with $6.0 million in 2023.
- Other revenue, including sales of bupivacaine liposome injectable suspension and royalties, was zero in the fourth quarter of 2024, compared with $2.6 million in the fourth quarter of 2023.
Preliminary Unaudited Full-year Revenue Highlights
- Full-year EXPAREL net product sales of $549.0 million in 2024, compared with $538.1 million in 2023. Full-year net product sales were comprised of average daily volume growth of 4 percent. There were 249 selling days in 2024 and 250 selling days in 2023.
- Full-year ZILRETTA net product sales of $118.1 million in 2024, compared with $111.1 million in 2023.
- Full-year iovera° net product sales of $22.8 million in 2024, compared with $19.7 million in 2023.
- Other revenue, including sales of bupivacaine liposome injectable suspension and royalties, was $11.1 million in 2024, compared with $6.1 million in 2023.
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