Benzinga | Jun 22, 2021 08:08AM EDT

Pacira BioSciences Reports EXPAREL Distribution Deal With Eurofarma In Latin America, No Terms Disclosed

Pacira BioSciences, Inc. (NASDAQ:PCRX), the industry leader in its commitment to non-opioid pain management and regenerative health solutions, today announced that it has entered into a distribution agreement with Eurofarma Laboratories S.A. (Eurofarma) for the development and commercialization of EXPAREL(r) (bupivacaine liposome injectable suspension) in Latin America.

"Through this distribution agreement with Eurofarma, Pacira is significantly expanding its global footprint in one of the fastest growing international markets. This partnership is a key achievement in our global expansion strategy and supports our mission to bring EXPAREL to patients around the world who are in need of a safe and effective opioid alternative for managing postsurgical pain and reducing length of stay," said Max Reinhardt, president ROW for Pacira BioSciences. "The Eurofarma team has considerable experience introducing and marketing innovative medical products throughout Latin America and we are confident they will be an ideal partner in this region."

"This new partnership reflects the tireless work to improve the patient surgical experience and to reduce reliance on opioids in Latin America. By partnering with Pacira, Eurofarma benefits from access to the best-in-class asset in postsurgical pain," says Martha Penna, vice president of innovation at Eurofarma.

Under the terms of the agreement, Eurofarma obtains the exclusive right to market and distribute EXPAREL in 19 countries in Latin America, including Argentina, Brazil, Colombia, and Mexico. In addition, Eurofarma will be responsible for regulatory filings for EXPAREL in these countries. Pacira will receive royalties based on Eurofarma's future commercialization of the product and is also eligible to receive milestones payments that are triggered by the achievement of certain regulatory and commercial events.

Jones Day is acting as legal advisor to Pacira in connection with the transaction.