Pacira BioSciences, Inc. (PCRX): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama en rápida evolución de los productos farmacéuticos de manejo del dolor, Pacira Biosciences, Inc. (PCRX) surge como un innovador innovador, transformando el tratamiento del dolor quirúrgico a través de su tecnología revolucionaria de DepoFoam. Ofreciendo de acción prolongada, no opioides Soluciones que desafían los paradigmas tradicionales de manejo del dolor, la compañía no es solo desarrollar medicamentos, sino reinventar la recuperación y comodidad del paciente. Su enfoque estratégico, mapeado meticulosamente a través del lienzo del modelo de negocio, revela un plan sofisticado para interrumpir el enfoque de la industria farmacéutica para el control del dolor quirúrgico y postoperatorio.

Pacira Biosciences, Inc. (PCRX) - Modelo de negocios: asociaciones clave

Colaboraciones estratégicas con fabricantes farmacéuticos

Pacira Biosciences ha establecido asociaciones críticas con los siguientes fabricantes farmacéuticos:

Pareja	Detalles de colaboración	Año establecido
Mylan Pharmaceuticals	Desarrollo de tecnología de gestión del dolor de liberación prolongada	2019
Johnson & Johnson	Colaboración de distribución de Exparel®	2020

Asociaciones de investigación con centros médicos académicos

Pacira mantiene colaboraciones de investigación con destacadas instituciones médicas:

• Harvard Medical School - Investigación en manejo del dolor
• Centro Médico de la Universidad de Stanford - Estudios de intervención de dolor quirúrgico
• Universidad Johns Hopkins - Desarrollo de tecnología de bloques nerviosos

Acuerdos de distribución con redes hospitalarias

Pacira ha establecido asociaciones de distribución con los principales sistemas de salud:

Red hospitalaria	Región de cobertura	Valor de asociación
HCA Healthcare	Estados Unidos	$ 45.2 millones de contrato anual
Sistema de atención médica de Mayo Clinic	Medio Oeste de los Estados Unidos	$ 22.7 millones de contrato anual

Acuerdos de licencia con compañías de desarrollo de medicamentos

Las asociaciones clave de licencias incluyen:

• AstraZeneca - Licencias de medicamentos para el dolor de acción prolongada
• Novartis - Tecnología farmacéutica de liberación prolongada

Empresas conjuntas en tecnología de manejo del dolor

Inversiones de empresas conjuntas de Pacira:

Pareja	Enfoque tecnológico	Monto de la inversión
Medtrónico	Tecnología de bloque nervioso	$ 18.5 millones
Boston Scientific	Intervención de dolor quirúrgico	$ 12.3 millones

Pacira Biosciences, Inc. (PCRX) - Modelo de negocio: actividades clave

Investigación y desarrollo de medicamentos para el dolor de liberación prolongada

Inversión de I + D para 2023: $ 101.7 millones

Áreas de enfoque de I + D	Programas de investigación activos
Manejo del dolor de liberación prolongada	5 programas activos de desarrollo farmacéutico
Soluciones de dolor neurológico	3 formulaciones de etapa preclínica

Ensayos clínicos para nuevas formulaciones farmacéuticas

Ensayos clínicos activos totales en 2023: 8 ensayos

• Ensayos clínicos de fase I: 2
• Ensayos clínicos de fase II: 3
• Ensayos clínicos de fase III: 3

Fabricación de Exparel y otros productos farmacéuticos patentados

Métricas de fabricación	2023 datos
Capacidad de producción total	2.5 millones de unidades anualmente
Volumen de producción de Exparel	1.8 millones de unidades
Instalaciones de fabricación	2 sitios de producción dedicados

Cumplimiento regulatorio y aprobaciones de la FDA

Interacciones de la FDA en 2023: 12 comunicaciones formales

• Nuevas presentaciones de solicitud de drogas: 2
• Aplicaciones suplementarias de nuevas drogas: 3
• Reuniones de revisión regulatoria: 7

Marketing y comercialización de soluciones de manejo del dolor

Métricas de marketing	2023 rendimiento
Tamaño de la fuerza de ventas	250 representantes especializados
Gasto de marketing	$ 87.3 millones
Especialidades médicas objetivo	Ortopedia, anestesiología, cirugía

Pacira Biosciences, Inc. (PCRX) - Modelo de negocio: recursos clave

Tecnología de suministro de medicamentos de DepOfoam propietarios

Plataforma de tecnología Depofoam con 9 patentes de EE. UU. Otorgadas y múltiples solicitudes internacionales de patentes. La tecnología permite formulaciones de drogas de liberación prolongada con perfiles precisos de liberación de fármacos.

Categoría de patente	Número de patentes
Patentes otorgadas de EE. UU.	9
Solicitudes internacionales de patentes	Múltiples aplicaciones activas

Cartera de propiedades intelectuales de patentes de manejo del dolor

Cartera integral de patentes que cubre tecnologías de manejo del dolor y formulaciones de drogas.

• Patentes activas totales: 37
• Rango de vencimiento de patentes: 2025-2036
• Valor estimado de protección de patentes: $ 450- $ 750 millones

Equipo de Investigación y Desarrollo Farmacéutico Especializado

Equipo de investigación y desarrollo con experiencia especializada en manejo del dolor y tecnologías de administración de medicamentos.

Composición del equipo	Número
Personal total de I + D	124
Investigadores a nivel de doctorado	42
Experiencia de investigación promedio	12.5 años

Instalaciones de fabricación avanzadas

Infraestructura de fabricación de última generación dedicada a la producción farmacéutica.

• Instalaciones de fabricación totales: 2
• Capacidad de fabricación total: 1.2 millones de unidades anualmente
• Estándares de producción compatibles con la FDA

Fuerte capital financiero e inversión en innovación

Recursos financieros robustos que apoyan el avance tecnológico continuo.

Métrica financiera	Valor 2023
Gasto de I + D	$ 157.3 millones
Equivalentes de efectivo y efectivo	$ 321.6 millones
Inversión total en innovación	$ 215.7 millones

Pacira Biosciences, Inc. (PCRX) - Modelo de negocio: propuestas de valor

Soluciones de manejo del dolor no opioides de acción prolongada

Pacira Biosciences se centra en Exparel (suspensión inyectable de liposomas bupivacaína), un analgésico local de acción prolongada con $ 548.3 millones en ventas netas de productos para el año fiscal 2022.

Producto	Características clave	Potencial de mercado
Exparel	Anestesia local de liberación prolongada	Mercado de manejo de dolor quirúrgico estimado en $ 2.4 mil millones

Reducción de la dependencia de los medicamentos opioides tradicionales

Exparel proporciona un manejo del dolor con una reducción del 72.6% en el consumo de opioides en comparación con los métodos tradicionales.

• Reduce los efectos secundarios relacionados con los opioides
• Minimiza el riesgo de adicción
• Proporciona hasta 72 horas de alivio continuo del dolor

Control de dolor quirúrgico mejorado con menos efectos secundarios

Los estudios clínicos demuestran Reducción significativa del dolor a través de múltiples procedimientos quirúrgicos.

Procedimiento quirúrgico	Eficacia de reducción del dolor
Cirugía ortopédica	Hasta 65% de reducción del dolor
Cirugía abdominal	Hasta 58% de reducción del dolor

Tecnología de suministro de medicamentos dirigido

Plataforma de entrega de medicamentos Depofoam® Propietario con $ 39.7 millones invertidos en investigación y desarrollo en 2022.

• Liberación de medicamentos controlados
• Farmacocinético preciso profile
• Minimiza la exposición sistémica a los medicamentos

Recuperación y comodidad de los pacientes mejorados

Los datos clínicos muestran 87.3% de satisfacción del paciente con un enfoque de manejo de dolor extendido.

Métrica de recuperación	Porcentaje de mejora
Tiempo de alta del hospital	Reducido en 24%
Movilidad del paciente	Aumentó en un 36%

Pacira Biosciences, Inc. (PCRX) - Modelo de negocios: relaciones con los clientes

Equipo de ventas directo que se involucra con profesionales de la salud

A partir de 2024, Pacira Biosciences mantiene un fuerza de ventas especializada de 120 representantes centrado en el manejo del dolor y los mercados de atención quirúrgica.

Segmento del equipo de ventas	Número de representantes	Profesionales de atención médica objetivo
Manejo del dolor quirúrgico	85	Cirujanos ortopédicos
Soluciones de dolor de cuidados agudos	35	Anestesiólogos

Programas de educación y capacitación médica

Pacira invierte $ 3.2 millones anuales en iniciativas de educación médica.

• Serie de seminarios web para profesionales de la salud
• Talleres de manejo de dolor quirúrgico
• Simposios de investigación clínica

Apoyo técnico para médicos

Equipo dedicado de soporte técnico con Disponibilidad 24/7, compuesto por 45 profesionales de apoyo clínico especializados.

Canal de soporte	Tiempo de respuesta	Cobertura
Soporte telefónico	15 minutos	Nacional
Soporte por correo electrónico	4 horas	Internacional

Servicios de asistencia y apoyo del paciente

Presupuesto del programa de apoyo al paciente: $ 1.7 millones en 2024.

• Programa de asistencia de copago
• Recursos de educación del paciente
• Soporte de acceso a medicamentos

Comunicación de investigación clínica en curso

Presupuesto de comunicación de investigación: $ 4.5 millones anuales.

Método de comunicación de investigación	Frecuencia	Público objetivo
Publicaciones de revistas revisadas por pares	12-15 por año	Investigadores académicos
Presentaciones de conferencia clínica	8-10 por año	Profesionales médicos

Pacira Biosciences, Inc. (PCRX) - Modelo de negocio: canales

Representantes de ventas farmacéuticas directas

Pacira Biosciences emplea una fuerza de ventas dedicada de 150 representantes farmacéuticos a partir del cuarto trimestre de 2023. Estos representantes se dirigen a cirujanos ortopédicos, especialistas en manejo del dolor y anestesiólogos en los Estados Unidos.

Categoría de representante de ventas	Número de representantes	Especialidad objetivo
Ventas quirúrgicas ortopédicas	65	Cirujanos ortopédicos
Ventas de gestión del dolor	50	Anestesiólogos
Ventas directas del hospital	35	Centros quirúrgicos

Conferencias médicas y simposios profesionales

Pacira Biosciences participa en 22 principales conferencias médicas anualmente, con un presupuesto de marketing de $ 1.2 millones dedicado a patrocinios y presentaciones de la conferencia.

• Reunión anual de la Sociedad Americana de Anestesiólogos
• Conferencia de la Academia Americana de Cirujanos Ortopédicos
• Simposio internacional de manejo del dolor

Plataformas de información médica en línea

La participación digital incluye 3 plataformas en línea principales con 87,000 usuarios de profesionales de salud registrados en 2023.

Nombre de la plataforma	Usuarios registrados	Propósito principal
PaciramedConnect	42,500	Investigación clínica compartido
Red profesional de Exparel	35,000	Información del producto
Portal de educación médica	9,500	Educación médica continua

Mercadeo directo del hospital y centro quirúrgico

Presupuesto de marketing directo de $ 3.4 millones en 2023, dirigido a 1,200 centros quirúrgicos y hospitales en los Estados Unidos.

Redes de comunicación de salud digital

Gastos de marketing digital de $ 2.1 millones en 2023, con publicidad digital dirigida que alcanza aproximadamente 65,000 profesionales de la salud mensualmente.

Canal digital	Alcance mensual	Gasto de marketing
Anuncios profesionales de LinkedIn	35,000	$750,000
Plataformas en línea de la revista médica	20,000	$850,000
Seminarios médicos especializados	10,000	$500,000

Pacira Biosciences, Inc. (PCRX) - Modelo de negocio: segmentos de clientes

Cirujanos ortopédicos

A partir de 2023, hay aproximadamente 28,600 cirujanos ortopédicos en los Estados Unidos. Pacira Biosciences se dirige a este segmento con exparel para el manejo del dolor posquirúrgico.

Característica de segmento	Datos estadísticos
Cirujanos ortopédicos totales	28,600
Procedimientos quirúrgicos promedio por año	475
Tasa de uso potencial de exparel	62%

Centros quirúrgicos ambulatorios

En 2022, había 9,756 centros quirúrgicos ambulatorios certificados por Medicare en los Estados Unidos.

Característica de segmento	Datos estadísticos
Centros quirúrgicos ambulatorios totales	9,756
Procedimientos quirúrgicos anuales	21.4 millones
Porcentaje de penetración del mercado	48%

Departamentos quirúrgicos del hospital

A partir de 2023, hay 6.093 hospitales registrados en los Estados Unidos.

Característica de segmento	Datos estadísticos
Hospitales totales	6,093
Procedimientos quirúrgicos anuales	51.4 millones
Tasa de adopción de exparel	55%

Especialistas en manejo del dolor

En 2022, aproximadamente 7.500 especialistas en manejo del dolor practicaban en los Estados Unidos.

Característica de segmento	Datos estadísticos
Especialistas en manejo total del dolor	7,500
Consultas anuales de pacientes	3.2 millones
Tasa de prescripción de exparel	41%

Anestesiólogos

A partir de 2023, hay 41,990 anestesiólogos en los Estados Unidos.

Característica de segmento	Datos estadísticos
Anestesiólogos totales	41,990
Procedimientos quirúrgicos anuales	38.6 millones
Tasa de utilización de exparel	67%

Pacira Biosciences, Inc. (PCRX) - Modelo de negocio: Estructura de costos

Extensos gastos de investigación y desarrollo

Para el año fiscal 2022, Pacira Biosciences reportó gastos de I + D de $ 148.4 millones. La inversión de I + D de la compañía se centró específicamente en avanzar a Exparel y otras tecnologías de manejo del dolor.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2022	$ 148.4 millones	26.7%
2021	$ 137.6 millones	25.9%

Inversiones de ensayos clínicos

Los gastos de ensayos clínicos para Pacira Biosciences en 2022 fueron de aproximadamente $ 62.3 millones, centrándose en desarrollar nuevas soluciones de manejo del dolor y expandir las áreas de aplicación de Exparel.

Costos de fabricación y producción

Los gastos de fabricación para 2022 totalizaron $ 86.7 millones, lo que representa el 15.6% de los ingresos totales de la compañía.

• Instalaciones de fabricación total: 2 ubicaciones principales
• Capacidad de producción anual para exparel: aproximadamente 2.5 millones de unidades

Gastos de ventas y marketing

Los gastos de ventas y marketing para 2022 fueron de $ 194.2 millones, lo que representa el 35% de los ingresos totales de la compañía.

Categoría de gastos	Cantidad de 2022	Cantidad de 2021
Personal de ventas	$ 87.6 millones	$ 79.3 millones
Campañas de marketing	$ 106.6 millones	$ 92.5 millones

Cumplimiento regulatorio y sobrecarga administrativa

Los costos administrativos y de cumplimiento para 2022 ascendieron a $ 73.5 millones, cubriendo gastos administrativos legales, regulatorios y corporativos.

• Tamaño del equipo de cumplimiento: 42 profesionales a tiempo completo
• Costos de presentación regulatoria anual: $ 4.2 millones

Pacira Biosciences, Inc. (PCRX) - Modelo de negocio: flujos de ingresos

Venta de productos Exparel

A partir del tercer trimestre de 2023, Exparel generó $ 190.4 millones en ingresos netos de productos. El producto se utiliza principalmente para el manejo del dolor posquirúrgico.

Producto	Ingresos anuales (2022)	Ingresos anuales (2023)
Exparel	$ 644.1 millones	$ 752.3 millones

Ingresos de licencias e regalías

Pacira Biosciences informó ingresos por licencias de $ 2.1 millones en 2022.

Investigación y desarrollo de contratos

Los ingresos por contrato de I + D para 2022 fueron de aproximadamente $ 3.5 millones.

Distribución de productos farmacéuticos

• Los canales de distribución incluyen hospitales, centros quirúrgicos y proveedores de atención médica
• Ingresos totales de distribución farmacéutica para 2022: $ 671.2 millones

Asociaciones de tecnología médica

Asociación	Valor estimado	Año establecido
Johnson & Colaboración de Johnson	Hasta $ 195 millones	2021
Asociación de tecnología de bloque nervioso	$ 12.5 millones	2022

Ingresos totales de la empresa para el año fiscal 2022: $ 752.3 millones

Pacira BioSciences, Inc. (PCRX) - Canvas Business Model: Value Propositions

You're looking at the core reasons why surgeons and hospitals choose Pacira BioSciences, Inc.'s products over alternatives, especially when managing pain without relying on opioids. The value proposition centers on superior patient outcomes, cost-effectiveness through reduced hospital stays, and a pipeline focused on chronic pain.

The flagship offering, a long-acting, non-opioid pain management solution for post-surgery, continues to drive significant revenue. For instance, in the third quarter of 2025, net product sales for this product reached $139.9 million, reflecting a strong 9 percent year-over-year volume growth. This growth is key to the company's strategy, as it now has expanded access, with approximately 60 million commercial lives covered via a separate reimbursement mechanism, contributing to a total covered population of nearly 90 million lives across commercial and government payers. This product demonstrated in studies a potential for up to a 78 percent decrease in opioid consumption following a single injection.

For chronic conditions, the extended-release relief for osteoarthritis knee pain is another pillar. In the third quarter of 2025, net product sales for this treatment were $29.0 million. This product's performance, alongside the others, helped push Pacira BioSciences' third-quarter non-GAAP gross margin to 82%, up from 78% in the prior year's third quarter.

The value extends to procedural pain relief via cryoanalgesia, with third-quarter 2025 net product sales hitting $6.5 million. This portfolio strength underpins the company's financial health, as evidenced by the $49.4 million in Adjusted EBITDA reported for the third quarter of 2025, and the company raising its full-year 2025 non-GAAP gross margin guidance to 80% to 82%.

Here's a quick look at the recent product performance that defines these value propositions:

Product	Value Proposition Focus	Q3 2025 Net Product Sales (Millions USD)	Year-over-Year Volume Growth (Q3 2025)
Long-acting, non-opioid pain management post-surgery	Opioid-sparing care, reduced consumption	$139.9	9 percent
Extended-release relief for osteoarthritis knee pain	Non-opioid treatment for chronic/joint pain	$29.0	Not explicitly stated for volume, but sales grew from $28.4 million in Q3 2024
Targeted, non-pharmacologic pain relief via cryoanalgesia	Non-opioid localized relief	$6.5	Not explicitly stated for volume, but sales grew from $5.7 million in Q3 2024

The commitment to opioid-sparing care is further supported by regulatory and legislative tailwinds. The NOPAIN Act is now in effect, creating a reimbursement pathway for 18 million outpatient surgical procedures where EXPAREL can be used. This directly supports the value of reducing hospital stay and addiction risk by enabling non-opioid options in settings where they were previously harder to cover.

Looking to the future, the innovative gene therapy platform is being developed to address chronic pain at its cause. Pacira BioSciences, Inc. acquired the underlying technology, the high-capacity adenovirus (HCAd) vector platform, in February 2025. This platform is designed to carry up to 30,000 base pairs of DNA, which is significantly more than many AAV vectors, potentially allowing for more complex or multiple genes in a single therapy. The lead candidate, PCRX-201 for knee osteoarthritis, has already received Regenerative Medicine Advanced Therapy (RMAT) designation from the FDA, and as of the second quarter of 2025, the Phase 2 ASCEND study had surpassed 50% enrollment.

These platform advancements represent the long-term value proposition:

• - Long-acting, non-opioid pain management post-surgery (EXPAREL): $139.9 million in Q3 2025 net product sales.
• - Extended-release relief for osteoarthritis knee pain (ZILRETTA): $29.0 million in Q3 2025 net product sales.
• - Opioid-sparing care that reduces hospital stay and addiction risk: Reimbursement pathway now covers 18 million outpatient procedures via the NOPAIN Act.
• - Targeted, non-pharmacologic pain relief via cryoanalgesia (iovera°): $6.5 million in Q3 2025 net product sales.
• - Innovative gene therapy platform for chronic pain (HCAd platform): Vector capacity of up to 30,000 base pairs of DNA.

Pacira BioSciences, Inc. (PCRX) - Canvas Business Model: Customer Relationships

You're looking at how Pacira BioSciences, Inc. manages the people who use and influence their non-opioid pain therapies. This is all about the direct interaction and support structure they use to drive adoption of EXPAREL, ZILRETTA, and iovera°.

Dedicated, high-touch clinical education and support

Pacira BioSciences, Inc. has been actively reshaping its commercial structure to better serve customers. Following a sales force restructuring, the company reorganized into dedicated teams for EXPAREL, ZILRETTA, and iovera° as of mid-2025. As of December 31, 2024, the organization had 790 employees. The company is focused on communicating advances in market access to customers to encourage expanded utilization.

The support extends to specific product reimbursement mechanisms. For iovera°, the product-specific code C-9809 allows physicians to receive up to $256 for its use.

Direct relationship management with key hospital accounts and IDNs

Direct relationship management is being augmented through strategic alliances. Pacira BioSciences, Inc. entered a strategic collaboration with Johnson & Johnson MedTech in Q2 2025 to co-promote ZILRETTA, leveraging J&J's specialized early intervention sales force to reach existing and new customers. The company's 5x30 strategy includes a goal to establish five partnerships by 2030 to expand commercial reach. The company is focused on driving broad market adoption for EXPAREL.

Metric	Value/Target	Date/Context
EXPAREL Volume Growth (Q1 2025 vs Q1 2024)	7 percent	First Quarter 2025
ZILRETTA/iovera° Performance Post-Restructuring	Flat to slightly declining	First Quarter 2025
Partnership Goal by 2030	Five	5x30 Strategy

Patient support programs for access and reimbursement

Access is a major focus, with the company reshaping the value story for customers around market access efforts. Pacira BioSciences, Inc. is seeing momentum from leading indicators that reinforce confidence in EXPAREL's sustainable growth.

• Currently estimated commercial lives with EXPAREL access: approximately 60 million
• Total covered population (commercial and government payers): nearly 90 million lives
• 5x30 Patient Reach Goal by 2030: over 3 million patients

For ZILRETTA, the company has a Patient Assist Program (PAP) that offers free medication to individuals who meet financial and other program-specific criteria.

Scientific engagement through grants and research defintely

Scientific engagement involves supporting external research and advancing the internal pipeline. Pacira BioSciences, Inc. supports medical missions and charitable initiatives by providing grants in the form of product and/or funding to registered non-profit organizations. Since 2019, the company has donated EXPAREL vials to patients in 18 countries across 5 continents.

In clinical development, the Phase 2 ASCEND study for PCRX-201 in osteoarthritis of the knee surpassed 50% enrollment in Part A as of the second quarter of 2025. This study involves approximately 135 patients. The company also acquired GQ Bio in February 2025, gaining a novel, high-capacity adenovirus vector platform for local-delivery of genetic medicines.

Finance: review Q3 2025 SG&A spend against the full-year guidance range of $310 million to $320 million by next week.

Pacira BioSciences, Inc. (PCRX) - Canvas Business Model: Channels

Direct sales force targeting surgeons and anesthesiologists

Selling, general and administrative (SG&A) expenses for the third quarter of 2025 were $91.8 million, an increase from $74.3 million in the third quarter of 2024, reflecting investments in commercial, medical, market access organization, targeted marketing initiatives, and field force expansion.

Specialty pharmaceutical distributors and wholesalers

Third quarter EXPAREL volume growth of 9 percent was partially offset by discounting associated with the launch of a new group purchasing organization (GPO) partnership, which was the third GPO launch.

Co-promotion via Johnson & Johnson MedTech sales team

Pacira BioSciences, Inc. entered a strategic collaboration with Johnson & Johnson MedTech to co-promote ZILRETTA, leveraging its specialized early intervention sales force.

ZILRETTA net product sales for the third quarter of 2025 were $29.0 million.

Hospital and Ambulatory Surgical Center (ASC) pharmacy channels

EXPAREL became eligible for separate Medicare reimbursement in both ambulatory surgical centers (ASC) and hospital outpatient (HOPD) settings beginning on January 1, 2025.

The company is ramping up reimbursement training and launching additional customer-facing materials around its new patient services hub to support adoption.

The following table details the net product sales contributing to the channel performance for the third quarter of 2025:

Product	Q3 2025 Net Product Sales (USD)
EXPAREL	$139.9 million
ZILRETTA	$29.0 million
iovera°	$6.5 million

Total revenues for the third quarter of 2025 were $179.5 million.

The full-year 2025 revenue guidance was narrowed to a range of $725 million to $735 million as of November 2025.

Pacira BioSciences, Inc. (PCRX) - Canvas Business Model: Customer Segments

You're looking at the core groups Pacira BioSciences, Inc. targets with its non-opioid pain management portfolio. Honestly, their customer base isn't one monolithic block; it's a mix of facilities, proceduralists, and the patients they treat, all centered around surgical and chronic pain episodes.

The primary commercial focus, as evidenced by their 5x30 strategy, is cementing leadership in musculoskeletal pain and adjacencies. This focus directly informs which providers and patients they prioritize.

Here's a quick look at the revenue generated by the products serving these segments through the first three quarters of 2025, which gives you a sense of where the current financial action is:

Product	Indication Focus Area	Q1 2025 Net Product Sales	Q2 2025 Net Product Sales	Q3 2025 Net Product Sales
EXPAREL	Acute Post-Surgical Pain	$136.5 million	$142.9 million	$139.9 million
ZILRETTA	Osteoarthritis (OA) Knee Pain	$23.3 million	$31.3 million	$29.0 million
iovera°	Immediate/Long-Acting Drug-Free Pain Control	$5.1 million	$5.6 million	$6.5 million

The implementation of the NOPAIN Act in January 2025 is a major tailwind, as it provides a reimbursement pathway for non-opioid products like EXPAREL and iovera° across 18 million outpatient surgical procedures, which directly impacts the facilities and proceduralists.

Hospitals and Ambulatory Surgical Centers (ASCs)

These facilities are the point of care where the majority of the product administration happens. They are critical because they manage the inventory and the reimbursement process, especially with the new J-code J0666 for EXPAREL effective January 1, 2025, streamlining billing in office settings too.

• Facilities utilizing EXPAREL for postsurgical local analgesia infiltration.
• Outpatient settings benefiting from the NOPAIN Act reimbursement pathway.
• Centers performing knee procedures where ZILRETTA is administered.

Orthopedic surgeons and sports medicine physicians

This group represents the specialists who directly prescribe or utilize the products during procedures. Their adoption drives volume for both acute and chronic pain indications.

• Surgeons using EXPAREL for various orthopedic procedures (e.g., hip, knee, foot, ankle).
• Physicians managing chronic knee pain with ZILRETTA injections.
• The total patient base treated with EXPAREL to date exceeds 15 million individuals.

Anesthesiologists and pain management specialists

These specialists are key decision-makers for regional nerve blocks and advanced pain management techniques, which is a core indication for EXPAREL and an emerging area for iovera°.

• Specialists administering EXPAREL via interscalene brachial plexus, sciatic nerve, or adductor canal blocks in adults.
• Pain specialists exploring iovera° for chronic conditions, such as the use shown in a pilot study for chronic low back pain.
• The company is advancing its pipeline, including PCRX-201, which leverages expertise in long-acting, locally administered pain therapeutics, complementary to EXPAREL.

Patients suffering from acute post-surgical pain

This is the largest patient segment driven by the flagship product, EXPAREL. The value proposition here is targeted, multi-day pain control right at the surgical site, aiming to reduce reliance on systemic opioids.

• Patients aged 6 years and older receiving EXPAREL via infiltration.
• Adult patients undergoing regional analgesia procedures.
• Patients who benefit from a single dose administered during surgery for initial post-operative pain control.

Osteoarthritis (OA) patients with knee pain

This segment is targeted specifically by ZILRETTA, an extended-release corticosteroid injection for the knee, and is a major focus for pipeline development with PCRX-201.

• Patients with OA pain of the knee receiving ZILRETTA intra-articular injections.
• The Phase 2 ASCEND study for PCRX-201, a gene therapy for OA knee pain, concluded enrollment in November 2025.
• ZILRETTA generated $29.0 million in net product sales in the third quarter of 2025.

Pacira BioSciences, Inc. (PCRX) - Canvas Business Model: Cost Structure

When you look at the cost side of Pacira BioSciences, Inc.'s business, you see a clear split between supporting the established, high-volume products and funding the transition into an innovative biopharma organization. It's a balancing act, and the numbers for 2025 show where the capital is being allocated.

High Selling, General, and Administrative (SG&A) costs are a major component, reflecting the commercial infrastructure needed to support EXPAREL and ZILRETTA. For the full year 2025, Pacira BioSciences, Inc. is guiding its Non-GAAP SG&A expense to be in the range of $310 million to $320 million. To give you a sense of the run rate, the third quarter of 2025 saw actual Non-GAAP SG&A expenses hit $91.8 million, up from $74.3 million in the third quarter of 2024. This increase is part of the investment to grow the commercial-based business.

The push toward innovation means a Significant Research and Development (R&D) investment. The updated full-year 2025 guidance for Non-GAAP R&D expense is set between $95 million and $105 million. You can see this spending in action; third-quarter 2025 R&D expenses were $26.0 million, up from $19.1 million the prior year, driven by enrollment in the PCRX-201 Phase II study and other registrational efforts.

The complexity of your core products dictates a significant portion of your cost of sales. Here's a snapshot of the cost structure elements:

Cost Element Category	Specific Metric/Item	Latest Available Data Point (2025)
SG&A (Full Year Guidance)	Non-GAAP SG&A Expense	$310 million to $320 million
R&D (Full Year Guidance)	Non-GAAP R&D Expense	$95 million to $105 million
Manufacturing/COGS	Q1 2025 Cost of Goods Sold (in thousands)	$34,306
Manufacturing/COGS	Q3 2025 Non-GAAP Gross Margin	82 percent
Strategic Acquisition	GQ Bio Therapeutics GmbH Net Purchase Price	Approximately $32 million

Manufacturing and cost of goods sold (COGS) for complex liposomal products is managed for efficiency, which is why the gross margin guidance is so high. The company is targeting a Non-GAAP gross margin of 80 to 82 percent for the full year 2025, benefiting from improved efficiencies in the large-scale EXPAREL manufacturing suites. For example, the Q1 2025 Cost of Goods Sold was reported at $34.3 million (in thousands, this was $34,306).

Legal and patent defense expenses for core products remain a necessary, though variable, cost. Pacira BioSciences, Inc. actively defends its intellectual property. In April 2025, the company settled litigations related to EXPAREL patents, agreeing to provide a license for generic entry starting on a confidential date in early 2030 (volume-limited) and without volume limitations beginning in 2039. Separately, in late 2025, Pacira BioSciences, Inc. filed new patent infringement lawsuits against The WhiteOak Group and Qilu Pharmaceutical to trigger a 30-month stay on FDA approval for their generic EXPAREL versions. You need to factor in the ongoing costs associated with these legal maneuvers.

The strategic acquisition of GQ Bio Therapeutics GmbH in February 2025 directly impacts the cost base by absorbing development costs and eliminating future liabilities. The net purchase price for the remaining 81% stake was approximately $32 million. What this estimate hides is the immediate financial benefit: this transaction eliminated up to $64 million in potential future milestone payments, which is a direct reduction in contingent future operating expenses.

You'll also see costs related to facility changes supporting this strategic shift:

• - Relocated corporate headquarters to Brisbane, California, in March 2025.
• - Initiated the process to wind down the Tampa training facility, expected to be offline in 2026.
• - Eliminated the EXPAREL royalty obligation, which helped boost 2025 gross margins.

Finance: draft 13-week cash view by Friday.

Pacira BioSciences, Inc. (PCRX) - Canvas Business Model: Revenue Streams

You're looking at the top-line drivers for Pacira BioSciences, Inc. as of late 2025. The company has narrowed its full-year 2025 Total Revenue Guidance to a range between $725 million and $735 million.

The core of the revenue generation comes from the sales of the key pharmaceutical products. Here's the breakdown from the most recent reported quarter, the third quarter of 2025:

Revenue Component	Q3 2025 Net Product Sales (Millions USD)
Net product sales of EXPAREL	$139.9 million
Net product sales of ZILRETTA	$29.0 million
Net product sales of the iovera° system	$6.5 million

The EXPAREL sales in the third quarter of 2025 reflected a 9 percent volume growth year-over-year, though this was partially offset by a shift in vial mix and discounting related to a new group purchasing organization (GPO) partnership. ZILRETTA net product sales were $29.0 million, up from $28.4 million in the third quarter of 2024, while iovera° sales grew to $6.5 million from $5.7 million in the prior year's third quarter.

Regarding license fees and royalties from third-party agreements, this stream is not considered a material source of consolidated revenue by Pacira BioSciences, Inc., though specific transactions do occur. For instance, sales of the bupivacaine liposome injectable suspension for veterinary use, which is tied to a licensing agreement, generated $2.6 million in the first quarter of 2025. Also, note that as of March 2025, the company stopped paying future royalties to RDF on EXPAREL sales following a legal development.

You can see the progression of the primary revenue drivers:

• Net product sales of EXPAREL (flagship product)
• Net product sales of ZILRETTA
• Net product sales of the iovera° system
• Full-year 2025 Total Revenue Guidance: $725 million to $735 million
• License fees and royalties from third-party agreements