Shares of Pacira BioSciences, Inc. (PCRX) jumped over 16% on Tuesday morning after the company announced settlement of U.S. patent litigation for Exparel.
PCRX is currently trading at $26.65, up $3.74 or 16.32%, on the Nasdaq. The stock opened its trading at $27.60 after closing Monday at $22.91. The stock has traded between $11.16 and $31.67 in the past 52-week period.
Pacira BioSciences announced that it has settled its litigations with Fresenius Kabi USA, LLC (Fresenius), Jiangsu Hengrui Pharmaceuticals Co., Ltd., and eVenus Pharmaceuticals Laboratories, Inc. related to patents for Exparel (bupivacaine liposome injectable suspension).
In settlement of all outstanding claims in the litigations, Pacira has agreed to provide Fresenius with a license to Pacira's patents required to manufacture and sell certain volume-limited amounts of generic bupivacaine liposome injectable suspension in the United States beginning on a confidential date that is sometime in early 2030.
The license will permit entry of generic bupivacaine liposome injectable suspension before the July 2, 2044 expiration date of the last-to-expire of Pacira's Orange Book-listed patents for Exparel.
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