Pacira BioSciences (PCRX) 25th Annual Needham Virtual Healthcare Conference summary

Company overview and strategic priorities

• Focused on delivering non-opioid pain therapies with three commercial products: EXPAREL, ZILRETTA, and iovera°.

• Vertically integrated operations with domestic marketing and manufacturing facilities.

• 2025 revenue reached $726 million, with EXPAREL contributing $575 million.

• Launched the 5x30 plan aiming for five strategic pillars to be achieved by 2030: patients served, product revenue, profitability, pipeline, and partnerships.

• Treated over 2.5 million patients in 2025, targeting 3 million annually by 2030.

Financial performance and growth drivers

• Achieved double-digit top-line growth targets, with EXPAREL volume up 6.2% in 2025 and 8% in the second half.

• Non-GAAP gross margin improved from 76% in 2024 to 81% in 2025.

• Signed three GPO partnerships to drive volume, with price and revenue expected to converge in the second half of 2026.

• Annual price increases anticipated to support double-digit growth.

• Ended 2025 with over $230 million in cash and increased share buyback authorization to $300 million through 2026.

Market access, reimbursement, and policy impact

• NOPAIN Act enacted in January 2025, providing separate reimbursement for non-opioid pain therapies.

• CMS covers 30 million lives, with commercial payers now covering an additional 70 million and often reimbursing at a premium to CMS rates.

• Over 80% of surveyed physicians view NOPAIN as important for non-opioid stewardship; 92% see it reducing opioid prescribing.

• Adoption and protocol changes are strongest in ambulatory surgical centers and community hospitals.

• Three GPO partnerships and a permanent J code have reduced reimbursement barriers.