Pacira BioSciences Awarded Brand Pharmaceuticals Agreement With Premier, Inc.

Rhea-AI Summary

Pacira BioSciences, Inc. (PCRX) has secured a national group purchasing agreement for Brand Pharmaceuticals with Premier, Inc., effective January 1, 2024. This agreement allows Premier members to access special pricing for EXPAREL® (bupivacaine liposome injectable suspension), a single-dose local and regional analgesic, aimed at improving patient care and reducing reliance on opioids. The collaboration is expected to expand Pacira's reach and provide non-opioid pain management options to more patients. Premier, with its extensive network of U.S. hospitals and health systems, aims to transform healthcare by enabling better care and outcomes at a lower cost.

Positive

• Pacira has secured a national group purchasing agreement with Premier, Inc. for Brand Pharmaceuticals.
• The agreement allows Premier members to access special pricing for EXPAREL®.
• The collaboration aims to improve patient care and reduce reliance on opioids.
• Premier's extensive network of U.S. hospitals and health systems is expected to expand Pacira's reach and impact.

Negative

• None.

Market Research Analyst

The strategic partnership between Pacira BioSciences and Premier, Inc. represents a significant advancement in the distribution and accessibility of non-opioid pain management solutions. By securing a national group purchasing agreement, Pacira stands to increase the market penetration of EXPAREL, potentially leading to increased sales volumes. This agreement is particularly relevant as the healthcare industry continues to seek alternatives to opioid medications due to the ongoing opioid crisis. The potential cost savings and improved patient care outcomes could make EXPAREL a preferred choice for Premier's extensive network, which could, in turn, drive demand and positively impact Pacira's revenue growth.

From a market perspective, this collaboration could enhance Pacira's competitive positioning within the non-opioid pain management market. The agreement with Premier, a company with a substantial footprint in the healthcare sector, may serve as a catalyst for further agreements and partnerships, potentially creating a network effect that amplifies the company's market share. Additionally, the emphasis on value in healthcare aligns with broader industry trends towards cost-effective and patient-centric care, which could resonate with investors and stakeholders looking for companies at the forefront of industry evolution.

Healthcare Policy Expert

The partnership between Pacira BioSciences and Premier is a notable example of how healthcare policy and market dynamics are shifting towards value-based care models. By aligning with Premier's goals of improving patient outcomes and reducing costs, Pacira is positioning itself favorably within the policy landscape that increasingly favors non-opioid alternatives. This agreement could potentially influence healthcare policy by demonstrating the economic and clinical benefits of non-opioid pain management strategies, potentially leading to broader adoption and supportive regulatory policies.

Furthermore, the agreement may set a precedent for how pharmaceutical companies and group purchasing organizations collaborate to address public health issues. As policymakers and healthcare providers continue to combat the opioid crisis, such partnerships could become a blueprint for combining commercial success with public health objectives, potentially impacting future legislation and healthcare standards.

Financial Analyst

From a financial perspective, the agreement between Pacira BioSciences and Premier has the potential to be a growth catalyst for Pacira's stock. The access to Premier's extensive network could translate into significant sales growth for EXPAREL, which is a key driver of Pacira's revenue. Investors will likely monitor the adoption rate within Premier's network as an indicator of the agreement's success and its impact on Pacira's financial performance.

It is important to consider the potential risks, such as the execution risk of rolling out EXPAREL across Premier's network and the competitive landscape of the non-opioid pain management market. Moreover, investors should pay attention to the long-term sustainability of the agreement's benefits, as well as any changes in healthcare policies or regulations that could affect the demand for non-opioid solutions. These factors will be crucial in evaluating the long-term financial implications of the agreement for Pacira.

TAMPA, Fla., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc., (Nasdaq: PCRX), the industry leader in its commitment to non-opioid pain management and regenerative health solutions, has been awarded a national group purchasing agreement for Brand Pharmaceuticals with Premier, Inc. Effective January 1, 2024, the new agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for EXPAREL^® (bupivacaine liposome injectable suspension).

This collaboration is aimed at improving patient care and optimizing cost savings to healthcare organizations and will allow Premier members to access EXPAREL, a single-dose local and regional analgesic that provides prolonged postsurgical pain control while reducing reliance on opioids.

“Premier has an impressive network of U.S. hospitals and health systems, and this collaboration provides Pacira an excellent opportunity to expand reach while improving patient safety and care,” said Frank D. Lee, Chief Executive Officer of Pacira BioSciences. “We are proud to collaborate with organizations like Premier as we continue to advance our mission to provide a non-opioid pain management option to as many patients as possible.”

Pacira and Premier share the common goals of advancing innovation, improving patient care, and pursuing value in healthcare. This collaboration will allow Pacira to further achieve these important objectives while making a lasting impact on healthcare providers and patients across the country.

Premier is a leading healthcare improvement company, uniting an alliance of approximately 4,350 U.S. hospitals and 300,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, consulting and other services, Premier enables better care and outcomes at a lower cost.

About Pacira BioSciences
Pacira BioSciences, Inc. (Nasdaq: PCRX) is committed to providing a non-opioid option to as many patients as possible to redefine the role of opioids as rescue therapy only. The company is also developing innovative interventions to address debilitating conditions involving the sympathetic nervous system, such as cardiac electrical storm, chronic pain, and spasticity. Pacira has three commercial-stage non-opioid treatments: EXPAREL® (bupivacaine liposome injectable suspension), a long-acting, local analgesia currently approved for postsurgical pain management; ZILRETTA® (triamcinolone acetonide extended-release injectable suspension), an extended-release, intra-articular, injection indicated for the management of osteoarthritis knee pain; and ioveraº®, a novel, handheld device for delivering immediate, long-acting, drug-free pain control using precise, controlled doses of cold temperature to a targeted nerve. To learn more about Pacira, including the corporate mission to reduce overreliance on opioids, visit www.pacira.com.

About EXPAREL®
EXPAREL (bupivacaine liposome injectable suspension) is indicated to produce postsurgical local analgesia via infiltration in patients aged 6 years and older, and postsurgical regional analgesia via an interscalene brachial plexus block in adults, a sciatic nerve block in the popliteal fossa in adults, and an adductor canal block in adults. The safety and effectiveness of EXPAREL have not been established to produce postsurgical regional analgesia via other nerve blocks besides an interscalene brachial plexus nerve block, a sciatic nerve block in the popliteal fossa, or an adductor canal block. The product combines bupivacaine with multivesicular liposomes, a proven product delivery technology that delivers medication over a desired time period. EXPAREL represents the first and only multivesicular liposome local anesthetic that can be utilized in the peri- or postsurgical setting. By utilizing the multivesicular liposome platform, a single dose of EXPAREL delivers bupivacaine over time, providing significant reductions in cumulative pain scores with up to a 78 percent decrease in opioid consumption; the clinical benefit of the opioid reduction was not demonstrated. Additional information is available at www.EXPAREL.com.

Important Safety Information about EXPAREL for Patients
EXPAREL should not be used in obstetrical paracervical block anesthesia. In studies in adults where EXPAREL was injected into a wound, the most common side effects were nausea, constipation, and vomiting. In studies in adults where EXPAREL was injected near a nerve, the most common side effects were nausea, fever, and constipation. In the study where EXPAREL was given to children, the most common side effects were nausea, vomiting, constipation, low blood pressure, low number of red blood cells, muscle twitching, blurred vision, itching, and rapid heartbeat. EXPAREL can cause a temporary loss of feeling and/or loss of muscle movement. How much and how long the loss of feeling and/or muscle movement depends on where and how much of EXPAREL was injected and may last for up to 5 days. EXPAREL is not recommended to be used in patients younger than 6 years old for injection into the wound, for patients younger than 18 years old for injection near a nerve, and/or in pregnant women. Tell your health care provider if you or your child has liver disease, since this may affect how the active ingredient (bupivacaine) in EXPAREL is eliminated from the body. EXPAREL should not be injected into the spine, joints, or veins. The active ingredient in EXPAREL can affect the nervous system and the cardiovascular system; may cause an allergic reaction; may cause damage if injected into the joints; and can cause a rare blood disorder.

What is the national group purchasing agreement secured by Pacira BioSciences, Inc. (PCRX)?

Pacira has secured a national group purchasing agreement for Brand Pharmaceuticals with Premier, Inc., effective January 1, 2024.

What product is covered under the agreement for Premier members?

The agreement allows Premier members to access special pricing for EXPAREL® (bupivacaine liposome injectable suspension), a single-dose local and regional analgesic.

What are the goals of the collaboration between Pacira and Premier?

The collaboration aims to improve patient care and reduce reliance on opioids, while expanding Pacira's reach and impact.

Who is the Chief Executive Officer of Pacira BioSciences?

Frank D. Lee is the Chief Executive Officer of Pacira BioSciences.