Pacira BioSciences (PCRX) RBC Capital Markets Global Healthcare Conference 2026 summary

Market performance and product trends

• Q1 2026 saw 7% volume growth and 5% revenue growth, with a gap due to GPO discounting and a shift toward smaller vial sizes, expected to narrow by mid-year as discounting headwinds ease.

• Accelerated adoption of the 10 ml vial is driven by ambulatory surgery centers, while larger IDNs are expected to increase 20 ml usage as they adopt NOPAIN Act benefits.

• Coverage expanded from 30 million CMS lives at the start of 2025 to around 100 million total by Q1, with further significant growth targeted by year-end.

NOPAIN Act and reimbursement landscape

• NOPAIN Act implementation is a key growth driver, with efforts focused on educating early adopters and increasing awareness among facilities.

• Concerns about spillover into inpatient settings are expected to resolve as more products become eligible for outpatient reimbursement.

• The Act is set to expire at the end of 2027, but extension efforts are underway through both CMS administrative channels and legislative advocacy.

Clinical evidence and product value

• Recent presentations highlighted strong clinical and pharmacoeconomic evidence for non-opioid therapies, showing reduced opioid use and healthcare utilization.

• Data from the IGOR registry and major congresses support the value proposition, with fewer inpatient admissions and ER visits for treated patients.