Pacira Pharmaceuticals ($PCRX) announced that it has inked a new deal with DePuy Sythes Sales. The new deal is aimed at promoting the use of EXPAREL (bupivacaine liposome injectable suspension) for orthopedic procedures in the U.S.
The company products are mainly geared towards managing opioid abuse. The company chairman and CEO Dave Stack said Pacira will benefit from the “scale, existing relationships and commercial capabilities of DePuy Synthes.” The company also plans to collaborate with DePuy Synthes field representatives, specializing in joint reconstruction, spine, sports medicine and trauma for boosting its field teams.
The company stock is currently on the downswing, having lost 40% of its value in the past 12 months. However, it seems to be on the mend as it gained over 20% this year so far. The stock is still more than 50% lower than its 52 weeks price, hence offering a good opportunity for the long or medium term investors to start a position.
Pacira also recently announced encouraging projections for its preliminary 2016 revenue. The company said that its total revenues were $276.4 million, compared to $249 million for 2015. Fourth quarter revenues were $72.9 million, compared to $69.3 million in the same period last year. The company’s new collaboration is further expected to boost its revenue and consequently its stock price.