PCRX - Earnings call transcript Q1 2024 | Pacira BioSciences, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Thank you for standing by. My name is And I will be your conference operator today. At this time, I would like to welcome everyone to Q1 2024 Pacira BioSciences Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Susan Mesco, Head of Investor Relations. Please go ahead.

Susan Mesco

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

Joining Frank Medical Chief Financial here me Charlie today's Officer. and are for Jonathan Lee, Chief Slonin, session. Chief question-and-answer Officer, also Officer; is Executive Reinhart,

me expectations. Before current may this call based statements involve today and represent our risks you will we remind that uncertainties. forward-looking include begin, statements of and let Such on judgment as

the factors risk website. to that could which company, the the from refer with will With now Pacira concerning affect our turn over please SEC filings the information Lee. SEC, I the available are call For or Frank to that,

Frank Lee

And trusted and to track also year, and lives. products, afternoon, opioids-bearing I which company and for since solid continue priority I'm patients' focused Thank our It's today. been of say is is year. start X make the on good PCRX-XXX. This important sales briefly which on on are pleased productive all you, a impact on to off time our an an to exciting touch joined Susan, this EXPAREL, I'll everyone. earlier

Let's start EXPAREL. with

potential. the Our its goals realize marketplace long-term preparing to are fully and organization centered on

advancing Let in educational the activities in and Premier. in the we've new outpatient and EXPAREL Medicare reimbursement third, me such progressing X XXXB and awareness extremity to separate second, First, beginning our and access of price, partnerships as new progress average walk nerve patient XXXX: around key through settings selling GPO X% with lower launch plus made expanding the ASP, XXXX you or for implementation NOPAIN; X in drivers EXPAREL through advancing of block indications; pricing

a not some market taking knee, proposition presence a painful all XX nerve mL very dose with with strong seeing an anesthesia any consistent remind we're of also delivering receptivity lower and is EXPAREL control in results surgeries. To and opioids extremity to with opioid-sparing lower care, patients are start where block, ankle TKA days reporting surgical of launched community X the Physicians attractive I'll single value procedures. across following pain the foot sites extremity for with we you, segment. positive

advanced other of also extremity education relationships through procedures the and like to lower build training foot and procedures. in uptake ACL and market. product in We uptake a expect We're segment this repair, working ankle slower would

to now ahead opportunity the in reimbursement the changes EXPAREL Turning with for outpatient upcoming procedures.

X% EXPAREL important EXPAREL of reimbursement CMS across reimbursing will marks cost It eliminate at Separate ASP settings beginning milestone. plus the fully January outpatient in of an barrier by XXXX. all

migration We've for steady of care systems care, resources market patients. care CMS the see in room we implement Given best away allocated outpatient utilization EXPAREL practice settings. and education help inpatient drive for from as to hospital state health EXPAREL expanding ample

operational excellence the procedures with accounts, There centers. organization and we're in outpatient a X to are X.X in within surgical with million maximize opportunity, settings ambulatory and roughly of million procedures marketing, ensure CMS enhancing functions capabilities split outpatient as talent settings million hospital annual performed roughly new important strategic our at market procedures this such To access. critical and X.X medical

a through parallel, to the of Earlier this health across forefront procedures. partnerships. nearly care we're the we GPO In partnership in whose programs, systems relevant care of hospitals opioid-sparing be action pricing management. XX% makers. We're initiatives new these education, afford EXPAREL Through opportunity covers helping systems our and to pain the at and of Premier also for network significant health market decision awareness, with pricing advancing key way we're paving XXXB NOPAIN year, drive announced participation preferential

are expect up post-launch, to what this to the the of first net we EXPAREL partnership our Premier partnership a from starting only short, impact Premier. with data days, early initial X do with pleased accounts with is modest it seeing In months still While sales In do. we're volumes on we're dollars. at

Importantly, X we have additional GPO process. in partnerships

As our products Charlie respect and according driving emphasize iovera° is performing margins for margins I sales the plan the to I'm for solid on ZILRETTA for quarter. with consolidated EXPAREL weighed With on to on in ZILRETTA are guided growth but want share margins growth. line top to pleased to quarter. say margins, iovera°, landed both details more and will shortly, focus that while primary range, our

the margins As will in grow benefit. top line, turn we

helper-dependent development intra-articular Switching on or therapy PCRX-XXX. treatment interleukin-X product research and for of updates like IL-XRa candidate adenovirus our quick few a OA, knee. codes antagonist, the gears I'd of gene to This for the pipeline. share osteoarthritis, novel to receptor

has PCRX-XXX potential cells disease-modifying a IL-XRa. believe own the turning production agent become sites by we leading of Here, the therapeutic into to patient's

Last PCRX-XXX. cytokine As At background, in knee American noncore processes OA study featured XXXX, month, results encouraging presented Phase Meeting a also podium of of Cell known catabolic that this Society Society and OARSI, week in International, the to XX-patient from IL-X the or the as Congress data at is Vienna. reduction tied progression. presentation in Research will of be in the Baltimore. The the a Gene Osteoarthritis inflammatory Annual with Therapy we I of World a to the preliminary contribute and joint

all X effect single as sustained clinical a outcomes by injection for intra-articular levels post-injection. that year showed at PCRX-XXX patient-reported at data demonstrated dose This assessed of least

in with have we favorable and profile. PCRX-XXX data was fall. be submit X through a to We the meeting well those years, data at safety presentation for preparing tolerated to medical now are Importantly, shown a

Advisory the X duration are symptomatic for function age million disease currently by million on patients. is Based XX of X to The research considered our and would from from be modifying and pain of or transformative both our a physicians Scientific market feedback treatments while potentially of for year Board, OA more the limited to and improving months. available X XX. the effect under Americans knee, the Of suffering

for patients care system. would RMAT, a and osteoarthritis. meaningful or gene of These Advance Furthermore, product in for Designation the findings Medicine health preliminary promising therapy ever first FDA's durability PCRX-XXX more the year Therapy, economically earned and be clinically or Regenerative

Lastly, unlike other be sold. for goods at will of large be manufactured believe PCRX-XXX cost therapies, gene a able favorable scale we to

opportunity outlook Before call ahead. financial financials, of have million highlight belief that turn plan. significant our offer repurchase the over report. growth stock plan I'd like to call Pacira turn repurchase our review for that value the confidence we our I stock $XXX investment With a the his attractive that, an announcement the in I'll the Charlie to shares to given to and for a over of today's Charlie plans implement This underscores

Charles Reinhart

afternoon our To call. financial I in these sales with you, and on an and found be to good can be you, all A release margin to trends. afternoon. issued along update with I'll will start measures Thank morning. the on the news metrics, GAAP, reconciliation of Frank, this this description remind non-GAAP discussing we

Starting EXPAREL. with

increased offset quarter modest EXPAREL rollout partnership growth contracted our $XXX.X in volume First by was discounts mix. in of driven vial a which versus with shift million $XXX.X sales the to well partially as million X%, XXXX, in as by of January Premier

quarter XXXX. and compared million ZILRETTA quarter to sales first $X of $XX.X to versus in First million the sales iovera° in to XXXX million $XX.X million improved $X increased

On first consolidated margin basis, margins. Turning to our gross percent quarter XX%. non-GAAP a was

guided XX%, our year and ZILRETTA impacted consolidated and our for landed margins within guided the quarter. first to While of were XX% EXPAREL full range below iovera° margins negatively range gross margins quarter

expense, quarter R&D to non-GAAP reported million million $XX.X the For year. $XX.X last first increased from

costs, note, manufacturing OA. Phase development This suite approach Of study the X% XXX-liter in activities and capacity San year-over-year for Diego. the scale-up which the first of from $X.X the increase includes expansion manufacturing is product expense for ZILRETTA primarily relates prior in III year our as down completion million EXPAREL to pre-commercial the shoulder recently start-up approved the quarter R&D we activities of

up for a came Non-GAAP with largely SG&A and legal This from million other is $XX.X quarter, extent, in expense to Paragraph $XX.X to first lesser to increase the new last costs CEO. due and transition the year. a litigation fees is IV our and associated million at with professional associated which

versus million $X.X expense reported to year. improved interest last First million quarter $X.X

This and hand. term savings are a significantly of March allocation B shareholder the EBITDA strategy, was loan $XX.X interest on creating the using delivered adjusted on And driven expense we lastly, quarter we focused A new positive XXXX, with million. to long-term With our associated term of another retirement capital loan cash of on by XX, respect value.

stock Today, capital productive believe returns use our which opportunistically will we capital announced plan, gives and program shareholders. that shareholders. undervalued, stock we a We repurchase is us a as million for share generate favorable view repurchase to $XXX our to flexibility that the our our of return

of margin gross follows: as full $XXX Turning million; guidance of expense to $XX million. stock-based non-GAAP our $XX $XXX million; call to to non-GAAP $XX million XXXX to With XX% I'll turn we guidance. of compensation year R&D million expense million the Today, reiterate revenue to SG&A Frank. to that, $XXX XX%; to $XXX total million; for million of of back non-GAAP $XX and

Frank Lee

is opportunities you, indications, pleased and setting ZILRETTA providing we're to non-opioid position progress next for leadership we've made for launching thus very progress further preparing also with making far closing, the entrench pain our and ahead year leveraging opportunity EXPAREL, the XXXX, The management reimbursement Thank iovera°. In that stage solutions. for Charlie. lies I'm growing the in growth new in significant us

for continue open to shareholders, growth serve. ready strategy care execute that, for systems importantly, on the we're and operator, create focused we We're With transform health the the sharply call lives questions. will value growth most our patients we of as to

Operator

from the Markets. your [Operator Capital first of with question Instructions] Gregory RBC Renza And comes line

Gregory Renza

I the all Premier quarter, and GPO for on contract. on appreciate Congrats Frank, on the and the progress. especially EXPAREL the the updates color

So of and a you the and the performance its influence just thinking you EXPAREL how more to with could over potentially couple about XXXX? view coming cadence comment that that wondering impact contracting on online, and how team the should you alluded on be the if

Frank Lee

It's Yes, on we're days, it's we're we're couple you working more, for We're excited what seeing. Because the thanks, about January, Thanks question. in thing as comments. what still excited we we're days early now, a my per this about mentioned. early right? but seeing signed Greg. And

Let a it bit me more little turn that. give Charlie to to over on color

Charles Reinhart

Greg, likely contract of third quarter quarter. later kind so second that would the have is the in one the we in a and another maybe a expectation from perspective second rollout

the in probably year. throughout rolling Frank peak. the activity of contracts So isn't at said, And quarter its are as first the the

this to warmed by up. it for of a relationships. have the end anticipate But X takes time we So get little year GPO that we'll them active

Frank Lee

And color the in respect with coming addition better to there partner to us contracts, to what educate starting [indiscernible] GPOs is let on reimbursement the just outpatient with in this what's XXXX. do some to enables me to membership add additional their January at

Gregory Renza

similar bolus a at of call when in of what could as comfort NOPAIN, you I that, for with Got keeping for look would the too it early to it my with a comes X question. it's theme But patients to some what point And when have it. mentioned. to sense. just that million tell with That makes it, And like, trajectory talking maybe know patients comes CMS? about XXXX, course, you

And thinking XXXX to start opportunity we then and comfort patients opportunity, the it at you from should as commercial comes when at that additional those a capturing that for trajectory level as about kind double of of your prepare beyond? what and point

Frank Lee

doing good Greg. We're a that's work a question, lot of now. Yes,

you resources toward prior our reallocated NOPAIN. from know, as discussions, we've So

prepared. some year. work sense sales of better various with to much as number going are get of model thinking lot on we in able the market my have of how a some to folks and is uptake in quite the prepared we're be what of closer getting so better only that with uptake of the we versus our research clarity of the working end better And there's doing quantitative qualitative insight but going the of provide discussions a in that of a we're the to of partnership NOPAIN the terms the interest view and And And on with in going year. not And that we're we know end now uptake doing We're partners are about a having parties, we'll to come settings, I segments terms have various that later. earlier bit NOPAIN. into think along to towards

take And commercial to as will follow payers of time mentioned, it for we suit. course, some

which some we fall. will as the that we're IR, so that Broadly Susan be our Head on And will -- some Mesco, getting timing focused on as speaking, course, initial well. we're clarity mentioned better And settings release information due from those provide hosting feedback will in of in marketplace. before, the that

other next to we can Greg, move no the I questions, caller. are think, if there

Operator

next line David Sandler. Amsellem with of Piper question comes the Your from

David Amsellem

I questions. of have a couple

First, plans commercial going confidence plans of it's I indeed is follow time, then talk And CMS? you more for here my for suit? Just about understand that NOPAIN. guess, you with that event? know plans, you to suit if that it question commercial of can time them will said, commercial payers follow you relates that commercial when follow to with take lag secondly, to Frank, might these I a to how long it talk dialogue the and lead to some take as ultimately, will, your your help us is, XXXX

question on cost last the just is And structure. then the

going wondering the I'm company You and where allocating of XXX long-term and in to strategy iovera° ZILRETTA NOPAIN. course, fit the terms talked forward? of about of resources

Frank Lee

the thanks for David, questions.

ASP a opportunity to focus known on NOPAIN, which I of as plus about me CMS reimbursement trying in Initially, setting, substantial. let X X ASC quite patients really we outpatient just First, but you is the as setting as know, approximately million one provide X quantified we're make million that at in for on and context HOPD sure the this we've little the as think bit patients.

got need we right EXPAREL. patients that to in us opportunity of those amount in good access of of So we've front make we to that marketplace with provide job the do sure a to education a fair

area. before the that reallocated make from clarity NOPAIN how that's bolstering to so now parts are of importantly, specifically you've me better further in of that's going resources we're of broader commercial As commercial, our we bolster We've access, the resources, more we think in out medical to we much see there heard that and organization, up say 'XX. And end company and think I of 'XX, and towards start and be again, over stand 'XX the market progress. as going we the commercial progress other I year, have course playing terms the to to

So that's where we are with that.

focused before, to and of growing good terms see. With making what sales EXPAREL. and good very you we heard are deliver. ZILRETTA in progress We're regard on sharply said solid from that we to as making can are But we're we've progress will And iovera°, I've there. what earlier, continue able been as

doing disproportionate we're of terms in EXPAREL, So resourcing towards that.

launch. We are treating this like a product

that's so situation. approaching And the we're how

Charles Reinhart

David, Charlie. this is

shoulder XXX, please note, Just are spasticity trials we study building ZILRETTA of and in and on study. clinical your both investing comment for OA iovera° with the the

going investment is there So on.

Operator

next comes the of Parikh, Your Hardik line JPMorgan. question from

Hardik Parikh

ruling? on market latest couple Just of have of what guys could was where eVenus. scenarios -- had a us wondering in kind just some some the actions the that of of patent meantime the you could I challenge could likely guys terms from XXX the questions take kind you in give and based if out more of thinking play on eVenus actions

just kind in the is from to comes July? that on Or of confirm, I front? wanted that ruling there comes judge -- the expectation any still And is change the

Frank Lee

question, for Hardik. Thanks the

little a bit background. Just of

by And litigation expect first we June. so of the the do patent end on ruling sometime

And so be -- before. of got will what with patents just that's need consistent we that remind, to And to a that's what number said litigated. other we've

the launch product decide eVenus course, their In to need addition, to product and eventually approved point. some get of will at

a Kristen me are some to turn ahead, there color here. it number let additional So provide things to of but over

Kristen Williams

Thanks.

said, which We of read the to is the is the an stay to since out expect when end still by we July all February on isn't there As XX-month up. X, planned Frank you talked trial. update really at it

launch before put being Frank to reiterated opinion new we as those as issued and we've order court's in would that IP patents, detail produce in then. eventually Book-listed eVenus And Orange the to little to to hurdles forward and actually mentioned, additional through a release, continue look product. we EXPAREL, and So our we get need are a around

addition release, our and but of March other and additional the ones in Book-listed Orange to X patents, another in method are just matter, did composition in after it's have So those X of we XXX. use

there quite they But we're said, get that then to So continue other we'll a are few resolution I order. the need to to we new that getting And still are have as through. will here in produce to XXX IP continue patents forward to short looking through to work on and all patents care.

Hardik Parikh

EXPAREL progressing various then range. granular detail was gross full margin the within more the just the And Great. guidance about among mentioned kind year the are -- example, more Diego? U.K. the on San little you facilities, versus one in give in if wondering you how I of margins one a could bit for was

Frank Lee

Yes. that, Thanks for Hardik.

I well. think, overall, we're progressing

by broken really haven't specifically down site. We it

As want later I come online you Charlie, few XXX-liter know, don't the -- to coming in words going a to on is this is know, year. margins. about facility you if say

Charles Reinhart

long listen the driven major gross the EXPAREL. term, No, on. the in margins equipment is to going One is two for manufacturing improvement by the factors vials manufactured in be

XXX-liter the importantly less So even is the XXs. the more expensive total But volume. than probably is generally

focused on top margins we're follow. driving and that So can expanding so line, volume vial

Operator

James. comes the question next Nachman of Gary with Raymond from Your line

Gary Nachman

the place? NOPAIN a with year? the coming target certain as maintain you of buyback? How next how have Frank, with you'll being still organization. place first, that think convert Do next And to by have [indiscernible] of on plan do year? I in amount talk the share that. the need aggressive that is take to due for contemplated then cash with you And about most been you modernization your commercial think of you more that's progress prepare midyear the for

through So maybe that talk as well.

Frank Lee

Gary. for Great. the Thanks questions,

the on commercial organization. First,

and level, organizations. a and we've making plans very on progress plans, and Officer, we're to good the bolstering we're Chief market mentioned talked progress At commercial, As Commercial I a high on and medical about on that's modernizing track. hire making earlier, good access

folks management our reimbursement strategy team, payer market team the as operations. and as expanding addition, In access we're field number in of well

those So that are track. on things are all

the of marketing addition, our commercial very teams looking including resourcing at organization, carefully medical broader In bolstering our we're and teams.

and things going company a of where resources believe those NOPAIN our for our make away and areas So here them track investing from are the by supported it's difference we again, to here, right on certain launch. reallocating

good making as So that's I'd a and characterize on our organization, comment commercial we're progress. it

to expect respect second the And largely let just believe an that value share turn that here. in our speaking, we underscore year. I'll attractive given of our is investment the to say buyback, to ahead. in me the in the With sometime And half be confidence it's we does growth outlook. place that it it really Charlie

So over let Charlie, you. to me it turn

Charles Reinhart

thanks And for the you, Thank Frank. Gary, question.

on So flow the operationally balance positive, you a that we year. that's cash have we point as having reported generate out, sheet. just business cash $XXX every million roughly We listen,

you year. do million money sheet As need point balance we on next a to amount of of repay XX the out, August notes certain $XXX the

going the over commitments we're when as cash think we're -- and so going perspective of $XXX we priorities, And going will whether spend about we're needs make we we're from balance the benefits to a all not to to flow use time. balance going shareholders. to And opportunistically any we our million it that

Gary Nachman

All Great. Frank. one Actually, follow-up right. maybe for

you the little comes What Just you've of you are in What seen seem are resources pipeline. pretty mentioned the Charlie, before, next following XXX? about behind put it? far data Phase steps a excited so next? what there I. the will bit investing you for You sort

you things year? that is start year? that to how wait curious, next something will see I'm this So unfold likely Or until could

Frank Lee

Yes, Gary.

what any ahead in year investment, and will us certainly 'XX. in to But bit effort through So do. it's of in largely, need of and There be of be quite more we of 'XX, that and an terms sort a thinking important spend terms planning this question. will 'XX

about excited we're so And it.

and Advisory some data, the As We've data opportunity review of ASGCT. OARSI had also presented Board. get this an the I have mentioned, mentioned, Scientific to as with the at week I we

And the we vet to continue so data.

it forward. our But this clinical continue We in will the occur of a strategy strategy we'll beyond. and through in also vetting activity, development think and be largely going planning terms lot 'XX year, to investments and of

Operator

Truist Les comes question the line of next Your with Sulewski Securities. from

Unknown Analyst

on opportunity does This Les. for And you Jeremy is exactly view the you? with PCRX-XXX? do recent how the help designation How

Frank Lee

very vetting and what for strategy. means RMAT opportunity designation a osteoarthritis. work gene data the It's as further is the development the therapy And Yes. and first interesting FDA this is in think we that because closely that company the will about

wonderful develop stay truly a that make the to that patients. going extent is be And this forward, this could we FDA. asset to the this close So opportunity we sure transformational for with

thought from months our to durability, As that research I leaders, and discussions mentioned market benefit research, treatments offer know is patients with current X or months earlier, transformational. and market based of more considered whereas on X we XX

new And PCRX-XXX for that, the deliver extent patients. option treatment so that could be this to can important an

we'll data So very as development based the continue put RMAT FDA about the to vet data excited the well. and we're but together, on and plan designation the obviously

Operator

the from comes of Oren question Livnat, Wainwright. H.C. next Your line

Oren Livnat

A Congrats quarter. of pretty clean questions. on a couple

to questions small the have landscape we're follow-on talking of I NOPAIN just earlier kicks in. here. on procedures. Just build market broader to make the I overall commercial you about Like what share pretty want of obviously, understand after sure about

past procedures. highlighted you've XX about the think outpatient in I million commercial relevant

following just cover do a it help terms me Just about there about those at you feel I bit. talk covering to share make mean plans just now, want on, about market EXPAREL hence understand, you and what to me is? all, they'll improvement so CMS access do that Or are I understand is not And when have follow-up. small even with we're your it and compelled a if in plans? talking

Frank Lee

Yes.

Oren. plans when they'll some will oftentimes the commercial I'm is reimbursement, evaluate out about talking So to therapy. CMS time if new question, come will and with that cover take first thanks for What and

the the with so things. that commercial And at now our side task to very hand commercial accelerate work on of payers adoption to closely is

in that setting but we currently, be. have as oftentimes, ASC it a be could reimbursed C-code do straightforward it's said, not and can the Now that

use here, normally CMS commercial to And so engage with sooner they payers now opportunity follow to have NOPAIN we an reimbursement would. than and this to

so now a it. what broader But again is really remind But substantial make the a opportunity And to that's we're really to impact. trying with there's CMS just even patients. I'll that you this do

the that's idea. So

Oren Livnat

Okay.

I so have million, I'm like obviously use you a of clear, just lot you a mean, in mean, So million all $XXX outpatient now, product, $XXX I it's patients. said, not

I is now how just point understand So afterwards? wanted across and that's being reimbursement, done even outpatient entire the some suboptimal that to meaningfully board of at commercial your change could

Frank Lee

What's bundle. setting, is the provides is pulling with reimbursement Yes. in for out ASP the that for important the HOPD in NOPAIN thing legislation outpatient X% it example, which, of plus

So this is important.

will product reimbursed the So separately. be

now add of plus think you for you in access setting. that and the value top add or delivers provides on XXXB reimbursement, I an if up favorable clinical through given ASP attractive this what So GPOs X EXPAREL proposition

been cost a And oftentimes, the have issues barrier. of some

is important. this So

commercial This sort of by extent to that any accelerates payers. followed formula So be launch. reimbursement something is further will the to extent that

Oren Livnat

Okay. And for on developing we if it out? going to forward take potentially? just forward, are another as language you someone this this know out-license how should going up. to there extent interpret based said company is if Or the else want just develop to turns maybe I that to that want know don't too looking data be pretty that your to forward I But parse the the to to and I extent closely. I follow then asset irritating. you to can

Frank Lee

are about? product we which sorry, XXX? I'm talking

Oren Livnat

Yes.

Frank Lee

we're go I Look, see, excited our through of development strategy. very I about see. going XXX. thinking a to We're first, here lot about

right plans that to anything about We no have do now.

you. to say I'd what that's So

Operator

Prasad Your comes from next line Balaji question Barclays. of the with

Balaji Prasad

from So me. couple a

the sure can you million? which understand I'm I'm capital rationale While this That's one. already. of two, the for factors, covered allocation if know the And to the not I quantum curious deciding $XXX

just and on And the cadence it procedures year? So going are changed growth EXPAREL incremental the what the sort for expect of And XX in quarter? the to [indiscernible] dynamics that million that XX how quarter [indiscernible] million these previous versus the covered, be maybe we fully in procedures of

Frank Lee

on little Balaji, breaking bit. up You there were a me

that's first think question to I if your repurchase, So stock correct. was the related

again, our outlook the yes, an is in we so I'll and fact investment outlook that here going And it's growth forward. the so have attractive given underscore confidence what that

over your about and question If maybe Charlie. amount, that can the the to cadence is turn I sort of

Charles Reinhart

one it's here. amount. about I -- questions think Balaji, have your And the might of so Charlie been

And from so people looked XX% with perspective, was to market came million. $XXX we what really that's at our kind we of it size, how typical And first-time cap. XX% and up of

end and between we can note it we have and that to back well now -- But quickly, XXXX also it. We the to more makes we the and of we'll get it another utilize go if utilize sense, authorization.

hopefully, something to we're is this So and everybody's opportunistically benefit. we're going to try, going to it use

Frank Lee

was about numbers. some And other broadly just Balaji, Thanks, NOPAIN your and question think, I Charlie.

procedures are total believe fall XX So under that million that we NOPAIN. outpatient could

respect million specifically to million the out Now populations, XX CMS commercial. of and with patient X so settings that XX million, and

within million X about roughly million the the setting. lie million is And roughly and ASC commercial, whereas within are the about HOPD the million so setting inside that in and XX in is that X million million that ASC HOPD X the setting setting, about the X in commercial in X that

clear. So that's hopefully,

Balaji Prasad

If there, follow-up Frank. I could a ask

be today through what not to these million that Just an pathway? XX is incremental will those EXPAREL any EXPAREL procedures of percent or

Frank Lee

Yes.

how is penetration, a our largely patients out can't lot what if of incremental. say think, gate, to But much have about patients that particularly, give about going now of I And large, CMS HOPD speaking, in I X right is be is that the due barriers the impact. right is I number think that ASC, favorable to low, cost hard a very and CMS the this a you I million is existed. and by specifically can fairly and

was thinking the that drive we that NOPAIN behind hence, legislation making passage. And sure to

And was this years the with that's worked so in our the and company saw partnership early coalition past has on passed. thing and voices why over that X

product or out reimbursement And so of the drug fundamentally, reimbursement it's the bundle. pulling

best not there's disincentive for patients. to the the a use financial So product

clear. So hopefully, that's

marketplace, penetration barriers think I where those to room our in we've low got cost So issue. this the penetrate real are given substantial share further

Operator

of comes Your with line the last Serge Needham question Belanger from & Company.

Unknown Analyst

This is Serge. John for on

We have beyond. and year pricing for this EXPAREL two questions regarding

year, on discount into at like might strategy user First, point to And that of some when look so seen the you've context like what can you on effect year improve base? now comes rest far? strategy looks the like for then reimbursement? next based pricing And look what NOPAIN the provide with the improved right does what the what the

Frank Lee

Yes.

you maybe to talk doing What say we're EXPAREL want XXXB, that's you Charlie, bit about what that, strategy. favorable. pricing and a little GPO think when So is here with very I'll about

say I'll then reimbursement the better gets pricing. with And as to the NOPAIN, So obviously, opposed that.

beyond maybe can provide so you that, And of bit color. a little Charlie,

Charles Reinhart

Sure.

gross as about includes the under include time, It a hair of also it's So EXPAREL's think If discount. it well. we customer over will total XX%, includes and GPOs point, net XXXB, and prompt-pay to that series And contracts. product at returns this individual a

was I probably your think that question.

by focused price you're talking so in We did much one we're price. pretty we've -- And volume, really If the actually, regard. increases, modest been of expansion about top on line pricing in January. not that

Unknown Analyst

Yes.

a the I think of you year? to next increase? you year more gradual comes do price flip when at discount a more see for Or a change effect, I kind lumpy from of -- the taking of do know, a see beginning NOPAIN just really to the a pricing don't

Charles Reinhart

charge. plus in X critically to the X to our or drive plus prices nothing ASP ASP do the setting has with WACC outpatient So is important we'll volume.

try change can I benefit volume. our to in we our X don't just can will to that ASP we or educate form. from shape customers We're plus So so and potential benefit strategy going they way, know any from that

Frank Lee

John, this I focused we're growth And of go us penetration drive want on the to back NOPAIN. catalyst of opportunity to margin including with is so to some lot -- things, a sharply for questions earlier. growth. solves the and Doing this of

on. we're what that's So focused

Operator

Q&A Head closing That Mesco, Susan now Investor turn conference back for to concludes will our over of session. the remarks. Relations, I

Susan Mesco

today. your on for the you, and questions thanks time Thank all Herman, call and to

that ensure of opportunities for us. well. be we of underscoring continues success. continue crisis, positioned importance for stay are we long-term opioid a the The about the balance national the and ahead excited Thank to lie Throughout the are mission. our year, epidemic well to vital will you, We

Operator

today's you that all gentlemen, Ladies joining. concludes Thank and for call.

now disconnect. may You

Pacira BioSciences (PCRX) 7 May 242024 Q1 Earnings call transcript