Pacira Pharmaceuticals (PCRX) Tops Q2 EPS by 25c

Pacira Pharmaceuticals (NASDAQ: PCRX) reported Q2 EPS of $0.04, $0.25 better than the analyst estimate of ($0.21). Revenue for the quarter came in at $47.2 million versus the consensus estimate of $42.2 million.

Recent Highlights

• EXPAREL Commercialization: EXPAREL net product sales were $44.9 million in the second quarter of 2014, compared to $15.2 million in the second quarter of 2013. Pacira also reported 363 new accounts ordering EXPAREL in the second quarter of 2014, averaging 28 new accounts per week. Since launch, 2,815 total accounts have ordered EXPAREL through June 30, 2014, with 469 accounts each ordering more than $100,000 worth of product.
• sNDA Submitted for EXPAREL Nerve Block Indication: In May 2014, Pacira announced the submission of a supplemental New Drug Application (sNDA) to the U.S. Food and Drug Administration (FDA) for a nerve block indication for EXPAREL. The sNDA contains positive data from a Phase 3 study assessing the safety and efficacy of EXPAREL in femoral nerve block for total knee arthroplasty, as well as additional safety data from a Phase 3 study of EXPAREL in intercostal nerve block for thoracotomy. The FDA has accepted the filing for review and has set a Prescription Drug User Fee Act (PDUFA) action date of March 5, 2015.
• Data Continues to Support Value of EXPAREL-Based Multimodal Regimen for Postsurgical Pain Control: Last month, Pacira announced the published results from the IMPROVE program, a series of open-label, Phase 4 clinical studies comparing postsurgical narcotic use and health economic outcomes between patients receiving EXPAREL as the basis of a multimodal analgesic regimen versus a standard opioid-based pain management regimen across three surgical procedures—open colectomy, lap colectomy and ileostomy reversal. Published in the Journal of Pain Research, the study showed that the EXPAREL group experienced statistically significant reductions in total narcotic consumption, incidence of opioid-related adverse events (ORAEs), total hospital costs and length of hospital stay by 1.4 days.

For earnings history and earnings-related data on Pacira Pharmaceuticals (PCRX) click here.

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