Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) Q3 2019 Earnings Conference Call Transcript

Nov 07, 2019 • 08:30 am ET

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Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good morning ladies and gentlemen and welcome to the Q3 2019 Pacira Biosciences Earnings Conference Call. [Operator Instructions] As a reminder this conference call is being recorded.

I would now like to turn the conference over to your host Susan Mesco Head of Investor Relations.

Executive
Susan Mesco

Thank you Whitney and good morning everyone. Welcome to today's conference call to discuss our third quarter 2019 financial results. Joining me on today's call are Dave Stack Chief Executive Officer; Dr. Richard Scranton Chief Medical Officer; and Charlie Reinhart Chief Financial Officer. Before we start let me remind you that today's call will include forward-looking statements based on current expectations. Such statements represent our judgment as of today and may involve risks and uncertainties. Please refer to our filings with the SEC which are available from the SEC or our website for information concerning the risk factors that could affect the company.

With that I will now turn the call over to Dave Stack.

Executive
David Stack

Thank you Susan, Good morning everyone and thanks for joining. 2019 continues to be a terrific year led by significant growth in our core EXPAREL business along with an important asset acquisition in iovera. I'll start by calling out a few key highlights. Broad adoption is accelerating with five consecutive quarters of 20 plus percent year over year growth, validating our trajectory and placing us on a clear plan path to achieve average annual top line growth rates in the high teens for at least the next five years. Our significant partnership with Johnson and Johnson is solidifying the role of XL and painful orthopedic procedures. And we expect this relationship to continue to deliver great value through the conclusion of the agreement in 2021. We are in a terrific position with EXPAREL plus iovera to offer providers and patients a multimodal solution for opioid-sparing pain management before during and after TKA surgery. Our Phase III label expansion studies are on track and designed to add pediatrics and lower extremity nerve block procedures to our already broad label. Our Phase IV opioid-free C-section study which is known as CHOICE we'll read our top line results in January 2020. We are delighted to have Governor Chris Christie join our Board of Directors.

His long time unwavering commitment to the opioid crisis makes them a well suited and valuable member of our board. All in all this strong forward momentum leaves us well positioned to achieve long-term market leadership in non-opioid pain management and regenerative health solutions. To achieve this goal we remain focused on 3 global growth pillars: first driving top line growth through the continued expansion of EXPAREL in key surgical settings and the rollout of iovera as a preferred procedural solution for opioid-free pain management throughout the osteoarthritis patient journey; second leveraging our deep -- our DepoFoam platform to rapidly advanced new clinical candidates; and third building out our product pipeline through innovative partnerships and acquisitions that align directly with our mission infrastructure and physician audiences. Let's start with the