On May 11, 2021 Pacira BioSciences, Inc. (Nasdaq: PCRX), the industry leader in its commitment to non-opioid pain management and regenerative health solutions, reported preliminary unaudited net product sales of EXPAREL (bupivacaine liposome injectable suspension) and iovera° of $43.1 million and $1.5 million, respectively, for the month of April 2021 (Press release, Pacira Pharmaceuticals, MAY 11, 2021, View Source [SID1234579696]). EXPAREL average daily sales for the month of April 2021 were 449% of April 2020, when the COVID-19 pandemic was at its peak and elective surgeries were largely prohibited.
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"We continue to be very encouraged by the robust and expanding demand for EXPAREL and ioverao as the market embraces the significant advantages of opioid-sparing pain control," said Dave Stack, chairman and chief executive officer of Pacira BioSciences. "Long-acting EXPAREL-based blocks are being established as institutional protocol and revolutionizing regional anesthesia by reliably enabling earlier discharge and surgical migration to outpatient sites of care. Our ioverao commercial initiatives are taking hold and driving a significant increase in our customer base as healthcare providers recognize the value of this innovative cold therapy as an opioid-free, drug-free option for long-term pain management."
"The Pacira Innovation and Training Center of Tampa is driving demand for new and existing EXPAREL and ioverao users through best-practice education and training. Looking ahead, given these highly favorable market conditions, as well as EXPAREL utilization consistently outpacing the recovery of the elective surgery market, we believe there is a tremendous amount of growth ahead as the COVID crisis resolves and the elective surgery market normalizes," added Mr. Stack.
The company’s 2021 product sales continue to be negatively impacted by the COVID-19 pandemic, which mandated significant postponement or suspension in the scheduling of elective surgical procedures resulting from public health guidance and government directives. Elective surgery restrictions began to lift on a state-by-state basis in April 2020. In order to provide greater transparency, the company will continue to report monthly intra-quarter unaudited net product sales until it has gained enough visibility around the impacts of COVID-19. The company is also providing weekly EXPAREL utilization and elective surgery data within its investor presentation, which is accessible at investor.pacira.com. The financial information included in this press release is preliminary, unaudited and subject to adjustment. It does not present all information necessary for an understanding of the company’s financial results for the second quarter or full year 2021.