EXPAREL Patent Settlement
Successfully settled patent infringement litigation for EXPAREL, extending exclusivity to 2039 and eliminating RDF royalty obligation, benefiting EXPAREL gross margins by a low single-digit percentage.
Growth in EXPAREL Sales
First quarter average daily EXPAREL sales and volumes were up approximately 7% over 2024, after adjusting for two fewer selling days in 2025.
PCRX-201 Progress
Patient dosing underway in Phase 2 ASCEND study of PCRX-201 in osteoarthritis of the knee, with promising early data suggesting potential for long-term pain relief.
Stock Repurchase Program
Announced a $300 million stock repurchase program, doubling the previous authorization, indicating confidence in growth outlook.
Strong Financial Performance
Consolidated first quarter non-GAAP gross margin improved to 81% from 72% last year, driven by improved costs and efficiencies.