Pacira BioSciences reported first‑quarter 2026 revenue of $177.4 million, up 5 % from $168.9 million in Q1 2025, and earnings per share of $0.60, beating the consensus estimate of $0.5746 by $0.0254 (4.4 %) while falling short of the Zacks estimate of $0.61.
EXPAREL generated $143.3 million in sales, representing 81 % of total product revenue and up 7 % from $136.5 million in Q1 2025, driven by continued volume growth and a favorable vial mix. ZILRETTA and iovera contributed $26.8 million and $6.2 million respectively, up 15 % and 21 % versus the prior year, reflecting expanding market access and reimbursement.
Non‑GAAP gross margin for the quarter was 80 %, slightly below the 81 % achieved in Q1 2025 but within the 77 %‑79 % range forecast for the full year. The modest compression is attributed to a mix shift toward lower‑margin products and the impact of winter‑storm‑related shipping disruptions, while improved manufacturing scale for EXPAREL helped offset some cost pressures.
Pacira reiterated its 2026 guidance, projecting total revenue of $745 million to $770 million and EXPAREL net product sales of $600 million to $620 million, unchanged from the prior guidance. The company also reaffirmed non‑GAAP gross margin expectations of 77 % to 79 % and maintained its outlook for R&D and SG&A expenses.
CEO Frank D. Lee said, 'I'm pleased with our first quarter results,' adding that the company is seeing 'clear' progress across all five areas of its '5x30' strategy. He highlighted that 'In the first quarter, we delivered solid topline performance, highlighted by renewed growth across our commercial portfolio. This performance is fueled by a powerful combination of expanding market access, growing awareness and adoption, and mounting real‑world evidence, all of these are reinforcing each other.'
The company also emphasized its pipeline, noting that 'Importantly, we are now entering a data‑rich period, with key readouts this year expected from Part A of our Phase 2 study of PCRX‑201 in knee osteoarthritis, as well as our registrational studies for ZILRETTA in shoulder osteoarthritis and iovera° in spasticity.' With 21 Orange Book‑listed patents protecting EXPAREL and a growing covered‑life base, Pacira signals continued momentum in both its commercial portfolio and gene‑therapy pipeline.
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