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Shares of Pacira BioSciences PCRX have surged 66.8% in the past six months against the industry’s decline of 8.7%. The stock has also outperformed the sector and the S&P 500 index during this timeframe.
Strong quarterly results, consistent growth in sales of lead drug Exparel and encouraging pipeline progress have boosted investor sentiment.
PCRX Outperforms Industry, Sector & S&P 500
Image Source: Zacks Investment Research
Exparel’s Performance Fuels PCRX Growth
Exparel, Pacira’s flagship pain-management product, continues to drive sales. The drug is indicated for postsurgical local analgesia in patients aged six years and older. It is also indicated for regional analgesia in adults via an interscalene brachial plexus nerve block, sciatic nerve block in the popliteal fossa and femoral nerve block in the adductor canal.
The Centers for Medicare and Medicaid Services issued a permanent product-specific J-code (J0666) for Pacira’s Exparel to facilitate better insurance coverage for the drug. The new J-code became effective Jan. 1, 2025.
In December 2024, Pacira received the 940 patent from the U.S. Patent and Trademark Office that protects the chemical composition of Exparel ensuring protection against generics in the market through 2044. This ensures the drug’s exclusivity in the pain management market, thereby preventing generic erosion.
PCRX Efforts to Expand Exparel Bode Well
Pacira is seeking to further expand Exparel’s label to treat younger age groups, which should increase the target patient population. The company is launching a phase I pharmacokinetic study to support the expansion of a single-dose infiltration label to include patients under six years of age. Subject to the success of this study, Pacira plans to initiate a phase III registration study to support regulatory filings seeking label expansions in the United States and the EU.
The company is also interacting with regulatory bodies around the world for the use of Exparel as a nerve block in the pediatric setting.
Other Drugs in PCRX Portfolio
Apart from Exparel, PCRX has two other non-opioid treatments: Zilretta and iovera. Zilretta is approved as an extended-release intra-articular therapy providing relief to OA patients with knee pain while iovera is a novel, handheld device for delivering immediate, long-acting, drug-free pain control using precise, controlled doses of cold temperature to a targeted nerve.
These drugs generate incremental sales and boost the top line.
Pacira is also currently looking to expand Zilretta’s indication to include treatment for OA pain in the shoulder. The company initiated a phase III study to evaluate the efficacy of Zilretta in shoulder OA. Based on the success of the study, the company plans to seek label expansion of the drug for this indication.