On November 6, 2026, the United States Court of Appeals for the Ninth Circuit held Pacira BioSciences, Inc. owes royalties on EXPAREL manufactured using its 200-liter process and remanded the 45-liter portion to recalculate pre-judgment interest owed to Pacira.
PCRX · Pacira BioSciences, Inc.
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Pacira agreed to a $36.50 per share acquisition by Viatris, which commenced a tender offer on October 30, 2026 through subsidiary Peach Purchaser Sub Inc. The merger is expected to close before the end of 2026, ending its public listing.
Pacira BioSciences, Inc. withdrew its 2026 financial guidance and will not provide further updates during the pending Viatris offer and merger, also canceling its September 30, 2026 quarterly earnings release and conference call.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Aug 4, 2026TL;DR. Pacira reported Q2 2026 revenue of $192.4 million (+6% YoY) and adjusted EBITDA of $48.7 million, closed the iovera divestiture to Zimmer Biomet for up to $140 million, and lowered total revenue guidance to $735–$760 million (from $745–$770M) to reflect the divestiture while reiterating EXPAREL guidance of $600–$620 million amid softer elective soft tissue procedure volumes.
- + UnitedHealthcare now provides separate reimbursement for EXPAREL outside the surgical bundle, lifting covered lives to over 150 million.
- + EXPAREL net sales grew 3% to $147.8M and ZILRETTA grew 4% to $32.6M in Q2 2026.
- + LG Chem filed for EXPAREL approval in South Korea, with revenues expected to begin in 2027.
- + Cash position remains strong at $251.0 million as of June 30, 2026, further enhanced by $73.6M Zimmer closing payment.
- − Full-year 2026 total revenue guidance lowered to $735–$760 million from $745–$770 million due to iovera divestiture.
- − Elective soft tissue procedures slowed in Q2, pressuring Exparel volumes, particularly in hospital inpatient settings.
- − Non-GAAP gross margin fell to 78% in Q2 2026 from 82% in Q2 2025.
- − Non-GAAP net income of $29.5M ($0.73 diluted) in Q2 2026 declined from $36.0M ($0.74 diluted) in Q2 2025.
- − Adjusted EBITDA of $48.7 million in Q2 2026 declined from $54.3 million in Q2 2025.
- − SG&A increased to $81.3M in Q2 2026 from $77.2M in Q2 2025, partly due to non-recurring costs of contested director election.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| iovera net product sales | $1.98M | FY2026 Q3 | -69.3% |
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| Sales of bupivacaine liposome injectable suspension to third-party licensees | $1.18M | FY2026 Q3 | -56.0% |
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| ZILRETTA net product sales | $29.76M | FY2026 Q3 | +2.7% |
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| Adjusted EBITDA non-GAAP | $48.7M | second quarter | — |
| Bupivacaine liposome injectable suspension | 3.22M | the three months ended June 30, 2026 filing | — |
| Cash received from iovera divestiture | $73.6M | transaction closed July 31, 2026 | — |
| Cash, cash equivalents and available-for-sale investments | $251M | end of second quarter 2026 | — |
| EXPAREL | 147.82M | the three months ended June 30, 2026 filing | — |
| EXPAREL volume growth | 4% | second quarter | — |
| gross vial volume | 4% | the three months ended June 30, 2026 filing | — |
| kit volume (ZILRETTA) | 2% | the three months ended June 30, 2026 filing | — |
| Largest wholesaler | 30% | the three months ended June 30, 2026 filing | — |
| net selling price (ZILRETTA) | 2% | the three months ended June 30, 2026 filing | — |
| Non-GAAP gross margin percentage non-GAAP | 78% | Three Months Ended June 30, 2026 | — |
| Non-GAAP net income non-GAAP | 53.99M | Six Months Ended June 30, 2026 | — |
| Non-GAAP net income per share (diluted) non-GAAP | $0.73 | second quarter | — |
| Second largest wholesaler | 25% | the three months ended June 30, 2026 filing | — |
| Smart Tip net selling price | 2% | the three months ended June 30, 2026 filing | — |
| Smart Tip volume | 19% | the three months ended June 30, 2026 filing | — |
| Third largest wholesaler | 21% | the three months ended June 30, 2026 filing | — |
| Total | 76% | the three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Drug Manufacturers - Specialty & Generic — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
PCRX
this stock
Pacira BioSciences, Inc.
|
$1.46B | +40.9% | +26.0% | — | 8.4% |
|
TAK
Takeda Pharmaceutical Co Ltd
|
$68.47B | +37.5% | — | — | 0.1% |
|
GALDY
Galderma Group AG
|
$53.23B | +10.1% | — | — | 0.0% |
|
TEVA
Teva Pharmaceutical Industries Ltd
|
$51.92B | +42.6% | +4.3% | 101.1 | 2.4% |
|
JHPCY
Jiangsu Hengrui Pharmaceuticals Co., Ltd.
|
$40.66B | — | — | — | 0.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| PCRX | +0.1% | +0.3% | +49.7% | +0.2% | +40.9% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -2.5% | +1.5% | +49.2% | +0.4% | +30.3% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.