(RTTNews) - Pacira BioSciences (PCRX) said its Board of Directors has authorized a share repurchase program of up to an aggregate of $300 million with respect to the common stock, replacing the prior authorization. The share repurchase authorization expires at the end of December 2026.
Frank Lee, CEO of Pacira BioSciences, said, "This increased share repurchase authorization underscores the Board's confidence in Pacira's growth strategy and our commitment to delivering value to shareholders. Our recently established EXPAREL exclusivity runway extends to 2039 and provides long-term visibility that empowers us to confidently execute our 5x30 strategy as we generate significant cash flow."
Also, Pacira said its Board and management team are committed to enhancing the company's operational efficiency and expects to prioritize opportunities to drive margin expansion at the pre-tax net income level to further enhance value for shareholders.
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