Pacira down 25% as FDA approves generic version of Exparel

jmiks Pacira BioSciences ( NASDAQ: PCRX ) plummeted ~25% in Tuesday trading after the U.S. FDA approved a generic version of Exparel (bupivacaine liposome), a non-opioid used for post-surgery local anasthesia.

The agency approved an abbreviated New Drug Application for a generic version from Hengrui Pharma. Exparel is by far Pacira's biggest revenue driver. In Q1, it brought in $132M in revenue.

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