PCRX - Earnings call transcript Q2 2018 | Pacira BioSciences, Inc.

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Operator

Good day, ladies and gentlemen, and welcome to the Q2 2018 Pacira Pharmaceuticals Earnings Conference Call. At this time, all participants are in a listen-only mode.

Following management's prepared remarks, we will have a question-and-answer session, and instructions will be given at that time. And as a reminder, today's conference is being recorded for replay purposes. I would now like to introduce your host for today's conference, Susan Mesco, Head of Investor Relations. ahead. go Please

Susan Mesco

and call Halley, results. everyone. to Welcome Thank discuss good our conference to XXXX second today's you, morning, quarter financial

Joining Scranton, are Executive me Chief Financial and call Chairman our on Chief and Charlie Dave Reinhart, Officer; Chief our Stack, Richard Officer. Medical Officer; Dr. today's

filings Please call risks of current to we statements expectations. refer Before today's represent let are and today or with statements forward-looking our factors remind from our me include start, Stack. business. as and now Such involve may based uncertainties. that judgment available website you affect will Dave risk to will With could SEC the on our turn the our that over the the that, I for SEC information that call our concerning

David M. Stack

morning, postsurgical and solely driving accelerated joining. We Good advancing initiatives wholly-owned Susan. our pain. for EXPAREL, for everyone, opioid-free aimed remain several thanks analgesic growth at to committed Thanks, of

extremely mark with Now halfway past are strong trends pleased the the for with we we seeing EXPAREL. XXXX, are

dedication has which key the sustained multiple and home EXPAREL for of Our continued, fruit. benefits the tipping a and on growth. to represents driving on and is procedures customers settings, of focus EXPAREL focus care Adoption we bearing across and believe hit point, constituents dedicated opportunity – continued

for we second quarter. press you previewing release results a line issued financial the As our know, on July top XX

EXPAREL growth April Let XX%, detailed to me year-over-year June. We sales for in of provide accelerating a more XX% XX% few with posted from in highlights.

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this day comment into the Assuming period, no XXXX. effect following this go January beginning X, changes to will XX proposal

success commercial using with commercial also EXPAREL to side to procedures on payers patient satisfaction reduce the setting the to and more and seeing costs. transition more are We and provider greatly improve ambulatory

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Richard E. Scranton

today's call. Thanks, joining Dave. Good morning all to

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We expect study year. later this this launch to

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Pediatric that a In our of process Investigation peripheral prepared teams development also Europe block. kicked include are have the nerve [Plan] China, PIP partnership Program clinical have off the the in (sic) for We defining and or in we strategy. studies will

with regulators requirements. this discuss meet clinical intention China to the is Our in trial year later to the

assess as with the products, additional have far our DepoMeloxicam we conducted animal using additional effect administration sites. as candidate Finally, studies different to

in make We we'll assessing go, the no-go months. are upcoming and decision a next steps

several continue to We in in-licensing in also preclinical tandem DepoFoam-based have products evaluate development opportunities. and

complementary base. to focus Charlie? With walk commercial turn over stage through to I'll customer and that results. our commercial clinical assets Our the financial that, is Charlie call to on are and focus our EXPAREL

Charles A. Reinhart III

everyone. morning, good Thank you, and Rich,

this to that into morning. believe be metrics these we measures quarter additional and these press our continuing July. discussing financial trends a acceleration this The issued includes through of insights we're of I'd Financially, quarter we review release terrific includes The reconciliation the in we for you a financial they aspects had sales press provide with why positive a and pleased with GAAP remind our we also like will release financial the description we business. non-GAAP morning second I measures. are Before results, to seeing extremely

full we're to for of a $XXX to from Looking EXPAREL million. million in $XXX prior range our be year our million $XXX to $XXX position ahead, million to raise to happy guidance

are our our encouraged as block, partnership, such As of in seeing Dave we launch confident with the and in mentioned, of we use trends ambulatory JNJ taking sales key outlook, long-term brachial nerve by EXPAREL hold, drivers reimbursement EXPAREL and positive very are the developments the plexus setting, practices. and growth for in the near expanding

to orthopedic strategy a uptick as EXPAREL is management with of plexus JNJ rotator brachial into upper of incorporate growth spine, continue EXPAREL our pain shoulder, seeing second now the accounts product the quarter and launch accounts XXXX in the quarter use second million XX% for This last an and in key to new where to soft the hip and an sales $XX.X strategies, we're execution procedures and the partner in of in which compared field fracture. move the Net specifics procedures, million me growth Let as mL tissue cuff, their quarter. $XX.X procedures EXPAREL for was the successful expanded underscores blocks EXPAREL XX increased both for extremity year. our demand like of in driving nerve and to vials existing block, to due increase both mL XX anesthesiologists of

non-GAAP margin versus XX% second the gross quarter last of quarter for second of year. the XXXX for Our was XX%

lowered was quarter for and versus The million facility favorably in XXXX by margin for of XXXX second second the decreased driven Our vial. completion research cost $XX.X our of studies decrease X expenses gross quarter which R&D the Non-GAAP was second year. increased by in block. our largely development $XX.X last of nerve quarter Phase million the utilization, per impacted to

both increased Our quarter public affairs million last XXXX in and to administrative internal options for expanded $XX.X the which second of non-GAAP EXPAREL expenses year, primarily second to our to compensation plexus like of are quarter related directly campaign selling, to due expenses JNJ to to block. the million of launch and EXPAREL; linked commissions general improving brachial incremental the for compared and sales; focused of $XX.X access on nerve non-opioid incentive higher

net resulted or XXXX share this non-GAAP a million in loss the or and basic of last of $X.X All diluted quarter $X.X per for diluted of of $X.XX per share income the second year. and $X.XX compared million quarter second basic net for with non-GAAP of

quarter remains in with Finally, our million cash cash approximately investments. and strong position as ended the $XXX we

guidance, gross Looking from ahead of also financial guidance, XX%. in to to sales to to its XX% range to addition XX% margin our guidance our EXPAREL improving are we increasing non-GAAP full-year our previous XX%

be will non-GAAP expense XXXX $XX of million million, With (sic) higher non-GAAP of this Beyond expectations over Dave. this, I remains the R&D the call that, $XX $XXX million. same: compensation financial [XXXX] to the remainder to back expense we that $XX the and of end $XX range; guidance of at to with our of expense turn stock-based to SG&A million $XXX now million will million;

David M. Stack

Thanks, pleased Charlie. year, of are during half are to for revenue performance and In the delighted strong be with closing, guidance XXXX. our increasing we our this extremely first

the build position multiple the operating gateway strong is to of upon reduce as ever. of expect room use role year-to-date, to EXPAREL established expand a Pacira in and abuse. procedures opioid across stronger as a we drive to to foundation than the We the use

which We and the be and advantage, long-acting infiltration, blocks only significant nerve field difficult brachial to are and will a opioid-free, approved first-to-market regional for analgesic challenge. blocks, local plexus

to growing the have adoption. the EXPAREL operator. Halley? with particularly over are have turn the a to of solidifying surgical in and reimbursement to call more widespread the partnerships, favorable We of multiple that, I'd and strong level verticals, collaborations partnership that And like JNJ drive role we

Operator

you. Thank

question from of Stanicky Markets. Randall RBC first comes Capital Our

now is line Your open.

Ashley Ryu

XX% procedures towards surgery said Randall. unbundling granularity ambulatory can in Ashley on segment. customer Hi, little that I the Dave, bit now. more the that base segment for are you you you your Ryu past see a previously more CMS mentioned the the the Clearly, proposed over is kind provide important good next morning. about moving it's for is an growing JNJ ASCs. think do But know growing have how years. this ortho And around for few only of centers. This of I tailwind had

can proposal? more of the color impact you if CMS quantification provide a Thanks. just around So the the bit little potential of

David M. Stack

for Thank question. the you Yeah.

market, to are on very unbundling going outpatient put guidance We've We through focus partners SCA. CMS not that is proposed And of engaged specifically there business. this recently especially say provide developing like other surgeons Aetna actively community. future think we what and to and value to Cigna in force the than oral/maxillofacial material our we've ambulatory plastic on been sales to is address out the surgeons, and to a the it

So I CMS around we've program tell of you the what hands that fully is. exactly our value the got can

are a We any of the comment in middle in period case. XX-day

so And part XXXX our of certainly will it be guidance.

moving knee important patients even spine mentioned KOLs, moving their You there been outpatient the to especially has moving their surgeons are very Medicare call in practices that tell the very are correct with to that to interested key surgeons, outpatient can outpatient Aetna hip environment. I CMS you who proposal, patients the knees, for environment. are the who very We environment. we are see, new on now that the and

I can't and where to position quantify see this future you we us. important that a I'm numbers. it So really in But tell I with today the as can

Ashley Ryu

Thank you. sense. makes Great. Yeah, that

nerve guidance? Charlie, the bit updated around to provide contributions follow-up, you block more could a little granularity quick a As the

Charles A. Reinhart III

products the the sales us, higher to XX been base. the has growing rate vial. mL nerve not are we're It on growth been versus is going block it nicely. any and mL block Well, a what detail at what both comments are to mL. however, mL the smaller Both significant growth impacting are XX seeing point, very difficult, nerve this simply exactly is we've of because the provide say to had obviously, in important Obviously, XX XX significantly is

David M. Stack

the just I is what XX thinking can it's going seeing cuff, going not think numerical, is take EXPAREL mL block and about it, I this if us. look if vial some think to only we're to the in I anesthesiologist, that, at you a were we of again, of give way very I'll – shoulder community front-edge of And and the in cuff have efficacy then to bring regional we're Maybe medical eliminated nerve it's couple important of color and the – TAPs blocks to but more PEC at is, the shot has about once fascia like they mentioned we a product efficacy EXPAREL. Rich blocks expanding rotator lot a anesthesiologist of or any see in uses the what commentary a rotator a a the confidence which the times. in field iliaca, any use safety that and

important it see that realm. we So in being very

control, the market. with mean, products patients on to launch, multivesicular to with over the fairly They important really our be anesthesiology and on We able educating a educate perspective, of who frankly study. opioids, community this liposomes. also getting lot I to is this years of several partnership. how WAC that time price. many customer just advance I oral a so and competitive reduction opioid-free a on provide I'll of mean, even a of pain are we've & XX% EXPAREL, think Johnson to days and them the Johnson that are from – We've demanding responsible are us four XX% highlight knowledge safety that been last medical shoulder their the $XXX to of for makes in had in the

to hysterectomy either strategically you where Johnson, are anesthesiologists the & and folks these I with partnership how in And moving or about in – bit seen EXPAREL access for got time. folks users and through a one a to surprising little go they The to understand our important out where yet. very talking an But would to the things hernias approval indication is that, both block XXX things places and had people start us to so like in of places period extremity a that Johnson the haven't we've that talking is. is we are nerve P&T to a that, the – of we're then through that's about say also even committee or committee, back orthopedic regional and programs, short indications, the formulary safety new of EXPAREL

So, I us. for deal think big a is this very

Ashley Ryu

for Got so color. much it. Thank you your

David M. Stack

Thanks.

Operator

you. Thank

question next Douglas Barclays. of comes from Our Tsao

is line open. Your

Douglas D. Tsao

with for of the Hi, some the good Dave, made Thanks just taking payers. progress about question. spoken you've morning. you've commercial

terms over seeing potentially walk curious, much sort think of your how in business sort to – that of that sort and Just EXPAREL for then or the progressing commercial then of be of you accelerate the think Maybe opportunity, sort unbundling of for potentially this an being it start to the relative that time? blocks, playing a you could you will out. block and is to mechanics that And of big see see of maybe for could and people using seen do use and that that bigger? other through how side comment just primarily that. regional potentially past you if And you Medicare rest in as that really is of you highlighted nerve the and you're some just common accelerant do the of the

David M. Stack

terms a is in of go It head-scratcher Doug. Thanks, we'll a in J-code. bit the here terms Yeah. of where of

to much here. as if in question can, I make your at answer I'll free it feel me doesn't any as sense back So detail but come

not no that it even believe of obvious get folks EXPAREL been are that payers there EXPAREL. to use covers the has because J-code, exactly reimbursed for So though to for And a EXPAREL. payers plan the they have the how commercial paying the commercial is

example. So, I'll give an you

J-code one milligram. payer the have $X.XX old We CXXXX and of pays the that a C-code or old uses

is CXXXX, $X.XX paying then negotiating uses protocols payer we a separately that specific EXPAREL and paying bundle inside for payer have a mill, ERAS another another but have who and is payment We that the for bundle. without

do J-code the that opportunity And CMS there imagine the when for that of we so with could believe else. get you go everything solves we problem question because have that the like always into payers is, us the center, first can gravitate will And we to some J-code this? all an way do a to we actually simpler ambulatory they isn't

ambulatory a Medicare that's cetera. And of of age, part so, comorbidities question. sort is, of patient population Part and match not two one because the et perfect is your settings for

our commercial bigger the market Medicare potential the to at much in the segment ambulatory market. the of So, than has be view, least

here so, CMS on the many fronts. opportunity is important us J-code to really And

was you to well, to CMS next know we're read the knees guys ambulatory about field grow, that I'm We environment blocks. procedures. question, all sure OPP then and fronts. really to will us your going more more It's for variable, on the to and opening from guidance you Doug. As so, highly Doug, the ambulatory multiple in important have think continue centers And year. last

room, a So, have block has fundamental that the a they I pain Where but this regional the a to everywhere. where anesthesia be it's I case here. careful hospital administered, don't and overstate want in not a way program is specifically control change is

part address not or very see a can for so you this the regional it's doing any body, specific rapidly trying specific but where program they're body to of everywhere. part nerve of that growing do a a surgery almost they very instead And movement where regional anesthesia fairly

And so because know itself the block three got satisfies growing the But indication. a don't we're we just movement rapidly. again, if that question, of off on spear see months again, over last we is we nerve it's Doug. think that I tip since that the – the taken as in the

Douglas D. Tsao

helpful. very Thank so That's much, No. you Dave.

David M. Stack

Thanks, Doug.

Operator

you. Thank

from of comes David Piper Jaffray. question next Our Amsellem

Your line open. is

David A. Amsellem

Thanks.

a just couple. So,

but providing is two, you're not to terms from as surgical right And want know favorable the ambulatory ambulatory in it centers that number the given centers now then, safe have surgical in one? sense portion going say and is to the to unbundling, to going of the you're a benefit? that's blocks? see on mix unbundling comes did other ambulatory Thanks. hospital, of plexus So, words, done what that you in centers, where effect number these are these from I a of primarily I to get that the largest brachial outside the specifics, In

David M. Stack

ambulatory surgeries, I cuff surgeries, abdominal of in cetera, reverse things, those hysterectomies. peripheral we shoulder well go care If settings as carpal in David. as surgery, rotator are tunnel, kinds order, Thanks, generally see the repair, surgery, can what et hand

ambulatory all centers of almost strategic programs in We have procedures of like And in David, that have now hernia, care hysterectomies. environment. are an ambulatory number a in them being done

the again, will be a it So, is in many practiced ways, way art the being locale. in

insult. anesthesia signal There of things. have where and patient room, upper like pain be be we any that procedure no extremity type ever a or enters actually be those be the a There block be plexus will has pain program, regional before of surgical acute to the so you a will has turning for the especially the So absolutely, wound. no will a brachial off given will before operating unwound any the patient

practice way it we only much a and care. There the think they've was arc. scenario David? not to either to where will So the reimbursement where question, folks they ambulatory is given convert will the using can't because providing been EXPAREL that EXPAREL using new settings and bupivacaine is scenarios there care rapidly those cost, improved paid the program we anesthesia EXPAREL it, a where be get opportunity. patient available people that they've paid will or is for regional there EXPAREL been for fairly the no answer being But think hindrance Does very of actually in that using

David A. Amsellem

Yeah. right in And think sneak terms just in if terms helpful. now mix in That's may a follow-up, I of the I of...

David M. Stack

sorry. I'm yeah, Oh,

David A. Amsellem

willing that, to you ambulatory disclose if can you're versus talk know to the...? surgery, I ...hospital don't but

David M. Stack

I'll what last the asked said then. we data on perfect. the think reiterate Randall call, far I and question The that from is

the brachial sources now a by we a what as that plexus different think was understand So had I is we it – before to of to data a mean, conclusion. here the exists couple influenced highly business and data together come cobbling before But we're block.

So that two those are I'm putting this. significant fairly asterisks behind

was ambulatory roughly XX%. was Our business pure that

– Aetna, specifically And this it pay stepping of opioid these the of is the to prolonged or was the is, in payers, EXPAREL. reimbursement of of we with either we it get allowing that the business in pain a front for look think of huge use our to a In either XX% some that pocket or programs of so for way patients if newer commercial either and epidemic was payment at driven advance by allows relief out was opioids. the willing people code those without cases, who're government

And long on so, I think that would so here, give and ambulatory. for the you both we're opportunity blocks tour the nerve idea for bullish why

David A. Amsellem

Thank you.

David M. Stack

Thanks, David.

Operator

you. Thank

Our Steinberg Jefferies. comes David of from next question

Your open. line is

David Michael Steinberg

A couple much. questions. very of Thanks

you mentioned And on give become of think gross will and know that update technology (XX:XX) the said Difficulty] I you in an focus oral you've spray ramp-up your going? can when [Technical how operations, in on margins and it happens you've the – First, surgeons, you the confirm part when before, you Difficulty] (XX:XX). can can that I [Technical apologize is that plastics and mid-XXs get your if to that it past

Now that acquisitions, you're forwards? additional that thing going (XX:XX) sort [Technical on more Difficulty] of comments and in-licensing any

David M. Stack

I got some of that, David.

answer don't I you're out your and in if back, So fading questions, badly. come really

from spray. the think mid-XXs is question the in first I gross margins,

ruling given China product now, David, growth and the Difficulty] of the the [Technical is CMS understand. especially and Our right (XX:XX) the focus XXX-liter getting rapid

our come about a we've about in in So, to that UK, equal is the San that operation. to got the facility Diego of will online come is that online capacity Swindon

$XXX next will And we so expect you have could facility of thought we $XXX I'll could round Right worth give make those the will use a as EXPAREL. as in Diego if months, each Swindon that us million to numbers, large we San XX-liter just make four that behind and skids. it that of online, few – is make times in the million opportunity is

make on million And facility of its EXPAREL. worth that another will $XXX so own

$X.X EXPAREL. over have worth margins. improved saw San have the scale, get margin the you So we spray. improvement won't of would we XX%, to to we if the quarter liter, Behind we will when make we And last full but at quarter, left this Diego get running billion opportunity that XXX to significantly is

improved a actually with As partner Europe with gross rate we way especially spray United it's margins and our at opportunity working opportunity for the facilities, margins Patheon in tax States, XX% narrowing. the to in is with our improved XXX-liter the opportunity look to the out with and the

be so we're EU And States. sure United we'd would XXX if risk. for will. would you if the And use another basis it's facility XXX-liter moving a technology, be for the next and facility China not to in David, that we at what use willing be, facility to should European points we the facility looking it the accept the should new the and And U.S. Americas, then for turns out, I'm the it

manufacturing for we sure is you. that the risk, I'm into with spray sense books go so not if associated risk actually And new product on pipeline. technique the is clearly this a forward our the as to that worth putting makes

and So that anything think, David. graduated you point, last from very out training from be one oral asked force I Friday. I'll the specific surgeons we've David, about second seen there. whether plastics this on and sales They and maxillofacial the is

still all happy know, I working to as as day, about they're know. far that I I'm all So report every that's but

happened. bad So... How's that? has So nothing

David Michael Steinberg

great on sales So Tuesday then? or no Monday

David M. Stack

hoping that know wrong, know don't lot we've I And got but yet. of opportunities. on that Not a the of. I'm I'm that then I front, M&A

that et us, number to in we're customers developing obviously. TELA, looking to the needs products. moving look of for The view move of soft forward our important surgeons. would world and nature they're we can a relationship on the things, So their those something us telling And see of what cetera. of OA with have those a that to are focus forward folks get that's we us, very Johnson tools and on us also you are. need a we we're especially orthopedic a current for the around care audiences, for invested not & where anesthesiologists, at We're looking products medical what given in of looking is and benefit at tissue, we've setting to then The specific have both for know important where very We're Johnson And surgeons partnership if different medical technologies. we Johnson of to complementary they to ways important allows & us number new only our setting. the at to have is can ambulatory be focused established could that so kinds collaboration. ambulatory and we the the the Johnson improve

in have other that Ron all very and a the bringing next call, Ellis things David. in able done, got we've be and about that And his but the a of done to so, team I hope those they've not of number we'll job talk opportunities China fabulous only significant

David Michael Steinberg

Very Okay. helpful. Thanks.

David M. Stack

Okay. David. Thanks,

Operator

you. Thank

Our question Corey comes Seaport. Davis of next from

open. is line Your

Corey George Davis

go want I commercial reimbursed to in Dave, much. to how very to make clear a payers J-code how to to it get ambulatory care back the setting. Thanks for get important your is about it more comments

J-code, you have So how you mechanism and which does decision it that to help that in assuming get to process? by what's CMS kind again reapply the of the that sticks

David M. Stack

It the David – David so Yeah. is Corey. process, –

it milligram the J-code, we a paid a marketplace. code So which – it's typically we was a had in a C-code ambulatory It had that's is an or actually procedure for never EXPAREL. C-code an CXXXX APC code $X.XX and called

the will payment code. a paid What and use We for a code of expect, will then in receive happen then the gravitate we go payers January complementary traditionally the as is EXPAREL. marketplace that all from that code for we mechanism to using that CMS will we process be reimbursement would to have the as use comment through go of that to up that J-code X, and the then

is CMS commercial So the there and payment rate. separate the will payers unless nomenclature adopt some basically, negotiated

negotiating earlier, their EXPAREL them is will we from the yet, those news, But have bundles in to this perspective reimbursement had had a week well. since that for bill bundles pull want separately those have as EXPAREL people haven't any chance I we've of Corey. are for of again, that a out discussions said discussion and and As bundles. with We'll we they my ASCs separate to then have do a guess paying because have around with to then

Corey George Davis

that the took more to And then, but Okay. inpatient hospital Thanks. CMS' first off care it in the last do a though not decision also not was behind centers. take inpatient-only centers, I reimburse choose list procedure secondarily, knee quick it outpatient surgeries to think you made off And good CMS think list? done year was in for a it the then ones. they two – unbundle step, even ambulatory What rationale wasn't decision the in to they but didn't

David M. Stack

I'll first the one first. take No,

is a So bit different of it animal. a

was So or not the was that the an use environment hospital define a OPPs it whether that OR, part system, a of those calculation to be simple environments, where in via it's it patient outpatient always whether some in the of type docs walkway but in a same was and the pharmacy. same where by treatment was same center, the hospital provided was of almost the still an drug generally in to from being the are environment being able person hospital actually treated

the actually of having problem them the was in just And EXPAREL. made, a bad so, that, good decision because data with didn't code use support was that had analysis that their was not the appear of The that it made not know data either course, to that available. don't environment is is that is awful. And or whether a harmed decision we a

times, the down improve script CMS by to HHS, as see folks where do actually way, So the that in and OPP continue ability EXPAREL patient to satisfaction, satisfaction, because reduce hospitals and is the patients at and the discussions we'll expectation, you've using we with our Corey, have sending to of the costs. provider heard several

are providing and drug the is of still people in certainly else, the if well is effect so the as Washington setting, now. opioid OPP with in nothing ambulatory And And having got that I as a we've CMS that to demonstrating by we setting. know epidemic HHS that not possible work now lot where a on

wouldn't The So discussions actually I can we think I'm collaborative, my think on last I the it. continuing stake forward but how and discussions life I to on the very more. I'm are Corey, here, looking right do piece,

well. believe going to are the the knees that an unbundled not XXXX, Xst still for I ambulatory OPP, they – they Come knee they it in for in as is pay pay setting January but of in setting. accurate. would an ambulatory or So, to start

Corey George Davis

Thanks. right. mistaken that, I been on All Okay. but... might have

David M. Stack

Yeah.

went extend did is, I was to get least OPP they that wanted and and announcements. it on some they how to going, preliminary think was that visibility the then what at they to knees,

Corey George Davis

Thanks, Dave. Great. Okay.

David M. Stack

Corey. Thanks,

Operator

you. Thank

JPMorgan. next Chris Our from question Schott of comes

is Your open. line

Unknown Speaker

And for Hi, follow-up. what's is us thank there? markets are your actually Can happening you and what's you attractive you. with international EXPAREL? on think front Catarina update on most have strategy quick a (XX:XX) This then on Which I do ex-U.S. Chris. the do

David M. Stack

minutes. I to distracted was the I'm have Can sorry, going honest totally be repeat here, couple of question? for a you I'm to

Unknown Speaker

front are Can Which markets and do happening your us on update with on Sure. EXPAREL? international you strategy what's what's ex-U.S. attractive you there? the most think

David M. Stack

And you. this Rich in detail. Thank covered sure. Oh, some

So, partner a China we've got called in Nuance.

some been have product how in there is significant relative – middle changes to approved. China the in are We a

million. So and trying to partners what on exactly the is is referenced marketplace C-Sections in give is we're happen. in I there right or China that just you X United our to done States month make is find sense, a there C-Sections that path XXX,XXX enormous. And folks how a of China our exactly the through going here to way and together X.X our mean, regulatory every The be have had year. done lot discussions to million just Rich every

Behind is Canada some the the application the geography, Europe. Middle so East beyond discussion. for will specific the MAA are Latin file China in two marketplace. MENA, ex-U.S. terms discussion. to partner opportunities. are any under discussions for of significant we is Africa we under for get XXXX, geographies. the big a marketplaces on discussion. some hard value and America, a entire Union, North it's then far for will we to look too them, Those in have cover So and Japan of Early European under

to lot to against we them sure on that and have the of So we of got applied upfront and are but that these wanted we then opportunities, so have Union take the we've make the the that we'll opportunities, do resources China got we frankly. a European as rest biggest resources

Unknown Speaker

story Pacira potential at those partnerships just wouldn't then you're them have it important entrant new Great. what How giving Thank a quick specifically from you? looking are the perspective kind in And who a you. advantage place, of when you to of follow-up. do a see

David M. Stack

the Well, not just itself. company like epidemic problem. I that is guess by opioid all, There first anyway treetops, God, problem such enormous. – Oh, started out a the solve can massive the I that is just if a in of Pacira

we And so of tick I now. boxes, have dozens if partnerships the

for are patients about about America, just (sic) If patient patient [Partnership] Breastcancer.org, BoneSmart, patients to demanding you about think of advocacy, mean, Drug-Free that Partner they're physicians helping education educate non-opioid how us sure with – alternatives know alternative. making a Shatterproof, their a non-opioid their and speak and dozens people them, I just there's who

UT who about not the ongoing went the And kind think surgical and alternatives. Cleveland those of of have It's on approval the major mean, their about. Johnson Johnson, but little just of you a presence putting on embedded with other Aetna I the the just that presented MD their of with when massive & Anderson, I is If without I and Duke, now several talking at their this at programs, what opportunity customers. to folks. website use & the like Clinic, icon, Johnson nerve the block, is that of I'm with all that for EMR. those relationship just Pacira, and you assistance we've led and a to reps, for protocols, the Knoxville, had academic their protocols are a it's you payers, have and mean, Mayo AdCom about ERAS DocFind not then, click people company training EXPAREL mean, meetings, their their them to their we know-how, major Clinic, programs not orthopedic Shatterproof, Johnson, only icon, with centers, that folks and EXPAREL I go into opioid-free learn mean, part

So, we partnerships, the of given people XXX would if nowhere. need, we without had be or in scope field, XXX the the frankly, the

I – way even didn't would we all company if imagine have So are like these can't the be partnerships. there's what the partnerships no for –

Unknown Speaker

thank you. Great,

David M. Stack

Thank you.

Operator

Thank you.

Serge Our Company. comes & Belanger question from from next Needham

Your open. is line

Serge Belanger

Good Hi. morning.

Was early accelerate Just prepared and comments growth the for had to the for seen Dave, with you through growth mentioned on couple May end reported your in terms numbers questions you that June? July. in a me. you of growth that par continue of

David M. Stack

least. At

Serge Belanger

focus their with sales since towards just think an of And now? soft they've the around mentioned label guess tissue has of sales if force will expansion? and overview own And force, their you last that kind it numbers whether refocused year anesthesiologists. to of start the changed the just Where your kind impactful I you addressing new Can On in the effort of enacted? off sales Is JNJ. your extend they been you then efforts, give the Okay. still the a ASC think current CMS approval focus then, are that most opportunity. proposals us I and

David M. Stack

take I'll shot. Yeah. a

forces. Synthes So, the partnership DePuy with have the – verticals JNJ we four sales

& in Marry Johnson actually & presence to Johnson and no So recon marketplace if force a had so issues through great a their data, able in Johnson had With had all. surgery obvious, sales Johnson you a the in scenario recon that was marketplace. right? give stop spine neutral will, impact the us where some we world was with that and at bleeding, the the had we PILLAR orthopedic where

follow use those no had Johnson would surgeons the we you previously Johnson hospitals spine so these times, And on could who about we we've calls and programs & in as come where saw to talked presence. many then

nerve the partnership trauma off. would really cuff nerve block, quadrant medicine and I have groups the rotator arthroplasty nerve things groups block. shoulder sports big So taken blocks, and with win like the upper pre Since that was say our the and

one And to resource like stealing everything and the so I other. not would – separate, because we're that they're from say it's

and and two in a us is being of all opportunity a the can that care. trauma you in by last in single relationships four that mean, partnership. great would the iliaca a possible the much where say trauma fracture an continue us JNJ more nerve that advancement sports organizations I block nerve able leads made sort first I come scenario active fields give days things through like gave to fascia us So be shot and and that. have the to imagine block on, that's And to would to that medicine hip

with we are us, working anesthesia. For

is the on where cetera. We getting are soft on are formulary also tissue. of drug still in-charge institution, it we focused to new But et the

X/Xs, for soft was breast think hip recon. addressed other have enough with point, fascia see the tissue And reconsider we're kinds surgeons and doing the going there for with TAPs is know couple iliaca we've marketplace of to them enough we out aggressively and business week. I tissue the all that, through here on and us U.S. things to And so, reimbursement hemorrhoidectomies of come in for things fracture, plastics. We've that a we'll where put your the now how focused effective Those PEC surgery haven't is work folks are hopefully the are together last are block that very a the got of CMS, We as the the intention anesthesiologist nicely. work cover oral, still the fair for a are. that that the low-XXs. improved XX% probably third to infiltration and hernias of opportunity into right? ambulatory it's number this field to roughly we out CMS, and the that and if are group blocks We we other field. months and of soft that in in about of maxillofacial to the care for for surgeons, opportunity, all The and the that a plastic ASC at available mapped oral And

we've from as CMS. think put we to And But said we'll opportunities. then, there those we're the like given take I a we've from had folks out should a there. ruling it learn all times will group this it be how to of big dozen going don't week big on will lot since from I first so a And how And only that couple the be. know react

Serge Belanger

Okay. Thank you.

David M. Stack

Okay. Thank you.

Operator

you. Thank

from Partners. Ami comes Leerink Fadia question next Our with

Your line is open.

Ami Fadia

taking in asked setting before and with is, approval been form if late. a ambulatory approval question because different this call. not unbundling apologize Thanks whether or in the surgeries morning. in for how I can question I is And made the gets setting Good in the Hi. potential you joined of a the help The has understand has hospital CMS a hospital to trend surgery be to to influence an going respect done? outpatient to done get versus sort a with decision a where of a some respect setting? change me or with ambulatory that potentially outpatient

David M. Stack

treated question. in no the is ambulatory There very universal, is is prefer patients that not that physicians Increasingly, be we setting if Yeah. close. that would greatly mean, it's answer a I see simple what that to but to is possibility. and

but being think that are a age is in will going procedures, the made, on average driven care by the things advanced How that et decision some with increasingly patients, there would vast an actually think, setting, around to multiple for comorbidities cetera. be not you cost. greatly need resuscitation, acute physicians to only or we setting. appreciate So But or ambulatory patient ambulatory would be keep majority I of

the a if an are environment where care. scenarios in patients save environment, lose there to there require So the from less. expensive cost environment the services to of if many can of move outpatient loses lose the is obvious the being example, all move of doesn't that's hospital a because you the you used the because the also started but move thumb a like then not can primary OR, ambulatory where doesn't environment, procedures own will times most that to a patient outpatient payers, environment the environment. strategy, I'll it were hospital for sound you rule that be they to the number you, patient hospital a have It talking a And think expensive in of marketplace is of patient Hospitals to their environment, might hospital of the total we hospital less. a from hospital business but so formal are XX% OR to much but And agree, that inpatient an the money. administrator

payers have an where especially environment environment and the pushing environment. with and hard moving patients have are So outpatient a an on this they accepted relationship their they to ambulatory to whenever can, that

are the now but treat we not physicians monetarily care of you – environment, confidences, being in total So, would cost because tell to patients payer. have I savings the we've where relationships got to to incented any scenarios ambulatory disclose an going I'm that

their the surgery in So physician better does actually doing ambulatory an setting.

irregularly any. it's basically ambulatory where pockets aggressive are States, there's across there very is and of much because very there It So pockets care quickly. of United isn't evolving administered the

the opioids. environment you that make almost you thing lose patients for and it's – doses wasn't one dynamic an available these that with use a low treat large when opportunity very is is available we so well, that opioid to or ambulatory pain And when had strategy, them when of no a think sure you we – to

Ami Fadia

to of cases, if because you course? in do necessary not it why CMS you're day, mean EXPAREL inpatient thought end setting, may think trying sort that at the of avoid both unbundle have same the of And to the the Yeah. it was thing would in opioids,

David M. Stack

Yeah.

Ami Fadia

other... inpatient I is patient understand getting that means some that the

David M. Stack

question. fair a It's

Ami Fadia

treatments IV? by ...pain

David M. Stack

And a that bipartisan down spent, very highly man, get like on hard It Yeah. an support. affront might be is charged anything looks months over there months, the months. Act. But XX know, last you nine I've political guys it the to scenario. is It especially Affordable to look, Care

not We're continue epidemic I But impossible, – it So is hoping that Commission and I figured opportunity step step. and this D.C. in the haven't Washington we was of alternatives administration, undoing to that I'm that this wouldn't to work done this, say I and that is first a improvements use forward. going that you're when forward, maybe in hoping bipartisan a support by all something was now, it's impossible. looks anything the see previous like is it's Opioid it just I that the by the that non-opioid the will tell going requires supports especially say, would should yet. first done out you opioid that

Ami Fadia

Maybe more two Okay. just questions.

can outpatient the actually nerve And how used of you are you of the the a is you if currently the that what you then, is evolve have in in ambulatory the which inpatient and block the that versus bit have little EXPAREL also, utilization Firstly, Thank where months? type data? done give are last setting so maybe hospital mix much. hospital setting, surgeries seen me more couple in on color of

David M. Stack

– people more to is the and quite setting been ambulatory the outpatient procedures remember, hurdle reimbursement to significant moving ambulatory and it's The a environment.

can that why we think that important. at. get be But that's So you is things the the would easily extremities, this so it

hand – have surgery, so been – knees, have you're if the going block places obvious to are in if ankle has you're surgery, important why shoulder nerve and that it's surgery, plexus that's to So the going block brachial for those environment.

considered acute and The physician others that from a would be are to be perspective. surgeries the a less from risk

because previously didn't the time thinking to use they OR and the that you're very that needed hysterectomies like that where environment. things didn't hernias So patient highly-acute they and want about like things think

So that's the way these the history has procedures. driven

aggressive an you said from now spine see years where it outpatient. spine would to outpatient were lucky has think are ago, it's Five you almost the spades we become see see and have in that done to you to spine, going in now more the thought procedures move towards everywhere. commonplace inpatient do procedures, I moving going you to surgeons you're if

rapidly. to discharge hospital, that very very remember to make of impossible if So the from of surgery could procedure, control solve to wasn't I see do with the and available more a large then it of And the you more was you're dynamic to I I problem, think overnight doses treat these that's you order work the patients the hours, because patient you doesn't have right? opioids patient patients. think once spine you're to you them stay, there, it's for in outpatient because So, in to the technical pain that don't procedures competence ASCs them. not grown opportunity pain. it very go in was whole cool surgeon where you when another a doing – XX the scenario any – of clear going the all us a use when mean, you we painful not have And have can that

I Okay? With that we're – think so, Halley, done?

David M. Stack

time updates an and in the look your future. this So, to questions thank providing morning. for forward additional We you

next. Next soon. New We you is very after forward to the Wedbush up Thank you in us the week for Conference seeing York much. look all

Operator

the and for does conference. thank and you program, now Everyone, great you Ladies disconnect. may have gentlemen, a participating conclude This in day. today's

Pacira BioSciences (PCRX) 2 Aug 182018 Q2 Earnings call transcript