Egan-Jones Recommends Pacira Shareholders Support All Management Nominees

NEW YORK, June 5, 2026 /PRNewswire/ -- Egan-Jones recommends that shareholders of Pacira BioSciences vote FOR all three management nominees on the BLUE proxy card and AGAINST all three nominees put forward by DOMA Perpetual Capital Management LLC at the 2026 annual meeting.

Egan-Jones' analysis concludes that Pacira's performance and fundamentals support continued execution of management's strategy. Total revenue grew 3.6% in fiscal 2025 to $726.4 million, operating cash flow reached $152 million, and free cash flow totaled $136.7 million. Revenue growth also continued into 2026, with first quarter total revenues increasing 5% year over year, including 15% growth for ZILRETTA and 21% growth for iovera°.

Egan-Jones also states that DOMA has overstated the patent risk surrounding EXPAREL. While the 495 patent was invalidated in August 2024, Pacira's current Orange Book estate spans 21 patents from two patent families, and newer filers must contend with a broader and more diverse patent portfolio than existed when the original eVenus litigation began. The report adds that the April 2025 settlement providing volume-limited generic entry beginning in early 2030 and unlimited entry no earlier than 2039 reflects remaining patent strength rather than a collapse of the estate.

The report further highlights Pacira's 5x30 strategy, launched in January 2025, which targets more than $1.1 billion in revenue by 2030 and is already showing measurable progress. Management states that gross margin expansion is largely achieved, with 2025 gross margins reaching 81%, while the company has also returned $200 million to stockholders under a $300 million repurchase program authorized in April 2025.

Egan-Jones also cites a promising pipeline and stronger board qualifications. ZILRETTA, iovera°, PCRX 201, and PCRX 2002 support a credible path toward reducing reliance on EXPAREL over time, while management's nominees bring public policy, drug development, commercialization, and strategic transaction experience that Egan-Jones views as more relevant than DOMA's slate.

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SOURCE Egan-Jones Ratings Company