PACIRA PHARMACEUTICALS,INC. (NASDAQ:PCRX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive
Agreement.
On January24, 2017, Pacira Pharmaceuticals,Inc. (Pacira) and
DuPuy Synthes Sales,Inc. (DuPuy) entered into a five-year
arrangement for the promotion and sale of Paciras lead product,
EXPAREL, to the terms of a Co-Promotion Agreement between the
parties (the Agreement).
to the Agreement, Pacira appointed DuPuy as the exclusive
third-party distributor during the term of the Agreement to
promote and sell EXPAREL for operating room use for orthopedic
and spine surgeries (including knee, hip, shoulder, sports and
trauma surgeries) in the United States. DuPuy is entitled to
annual royalty payments on its sales of EXPAREL under the
Agreement, subject to conditions, limitations and adjustments.
The initial term of the Agreement commences on January24, 2017
and ends on December31, 2021, with the option to extend the
Agreement in additional 12 month increments upon mutual agreement
of the parties, subject to certain conditions.
Pacira and DuPuy have mutual termination rights under the
Agreement, subject to certain terms, conditions and advance
notice requirements; provided that Pacira or DuPuy generally may
not terminate the Agreement, without cause, within three years of
the effective date of the Agreement. Pacira also has additional
unilateral termination rights under certain circumstances. The
Agreement contains customary representations, warranties,
covenants and confidentiality provisions, and also contains
mutual indemnification obligations. DuPuy is also subject to
certain obligations and restrictions, including required
compliance with certain laws and regulations and Paciras
policies, in connection with fulfilling their obligations under
the Agreement.
The foregoing description of the Agreement does not purport to be
complete and is qualified in its entirety by the terms of the
Agreement. A copy of the Agreement will be filed by Pacira as an
exhibit to its Quarterly Report on Form10-Q for the quarter
ending March31, 2017.
A copy of Paciras press release announcing the Agreement is
attached hereto as Exhibit99.1.
Item 9.01. Financial Statements and
Exhibits.
(d)Exhibits.
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Exhibit No. |
|
Description |
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99.1 |
Press Release dated January25, 2017. |
About PACIRA PHARMACEUTICALS, INC. (NASDAQ:PCRX)
Pacira Pharmaceuticals, Inc. is a specialty pharmaceutical company. The Company is focused on the development, commercialization and manufacture of pharmaceutical products, based on its DepoFoam drug delivery technology, for use in hospitals and ambulatory surgery centers. Its primary focus lies in the development of non-opioid products for postsurgical pain control. The Company’s lead product candidate, EXPAREL (bupivacaine liposome injectable suspension), which consists of bupivacaine encapsulated in DepoFoam, and is an amide-type local anesthetic indicated for single-dose infiltration into the surgical site to produce postsurgical analgesia. In addition to EXPAREL, DepoFoam is also the basis for its other commercial product, DepoCyt(e), which the Company manufactures for its commercial partners, as well as its other product candidates. The Company’s other product candidates include DepoMeloxicam (DepoMLX) and DepoTranexamic Acid (DepoTXA). PACIRA PHARMACEUTICALS, INC. (NASDAQ:PCRX) Recent Trading Information
PACIRA PHARMACEUTICALS, INC. (NASDAQ:PCRX) closed its last trading session down -0.25 at 38.95 with 424,219 shares trading hands.