Pain Management-Focused Pacira BioSciences Loses Patent Fight For Key Drug, JP Morgan Analyst Downgrades On Unclear Path
Portfolio Pulse from Vandana Singh
Pacira BioSciences (NASDAQ:PCRX) lost a patent fight for its key drug Exparel, leading to a significant stock drop and a downgrade from JP Morgan. The court ruled that the '495 patent is invalid, which could erode Exparel's revenue, accounting for 80% of the company's sales. JP Morgan downgraded the stock to Underweight with a reduced price target of $10.
August 12, 2024 | 6:19 pm
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Pacira BioSciences lost a patent fight for Exparel, leading to a 40% stock drop and a downgrade from JP Morgan. The invalidation of the '495 patent could significantly erode Exparel's revenue, which accounts for 80% of the company's sales.
The invalidation of the '495 patent directly impacts Exparel, which is Pacira BioSciences' main revenue driver. The stock dropped 40% following the ruling, and JP Morgan downgraded the stock due to the lack of a clear recovery path.
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