BUZZ-Pacira secures pain drug patent deal until 2030; shares up

Reuters
08 Apr
BUZZ-Pacira secures pain drug patent deal until 2030; shares up

** Shares of drugmaker Pacira BioSciences PCRX.O rise 15% to $26.35 in extended trading

** PCRX says it has settled patent lawsuit with Fresenius Kabi over co's lead drug, Exparel

** Exparel is a drug that provides extended pain relief for up to 72 hours after a surgery

** Fresenius can sell limited amounts of generic Exparel starting early 2030

** The agreement allows Fresenius to sell without volume restrictions beginning in 2039 in the U.S.

** Brokerage Jefferies says it believes that the settlement is the "key to unlocking a re-rate in the multiple" and expects the co's revenue growth to "accelerate" with the removal of litigation overhang

** As of last close, stock up 21.6% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10