Company: PCRX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001396814-25-000041
Chunk: 75

Company: Pacira BioSciences, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 75
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 The Company recognized acquisition-related charges and other costs of $11.2 million during the year ended December 31, 2022 primarily for severance, legal fees, third-party services and other one-time charges related to the Flexion Acquisition. 

Pacira BioSciences, Inc.  |  2024 Annual Report on Form 10-K  |  Page F-41

Table of ContentsPACIRA BIOSCIENCES, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Restructuring ChargesIn February 2024, the Company initiated a restructuring plan to ensure it is well positioned for long-term growth. The restructuring plan includes: (i) reshaping the Company’s executive team, (ii) reallocating efforts and resources from the Company’s ex-U.S. and certain early-stage development programs to its commercial portfolio in the U.S. market and (iii) reprioritizing investments to focus on commercial readiness for the implementation of separate Medicare reimbursement for EXPAREL at average sales price plus 6 percent in outpatient settings and iovera° up to an additional $255.85 when providers administer iovera° in ambulatory surgical centers and outpatient settings beginning in January 2025 as part of the Non-Opioids Prevent Addiction In the Nation (“NOPAIN”) Act and broader commercial initiatives in key areas, such as strategic national accounts, marketing and market access and reimbursement. The Company recognized $8.5 million of restructuring charges for the year ended December 31, 2024, related to employee termination benefits, such as the acceleration of share-based compensation, severance, and, to a lesser extent, other employment-related termination costs, as well as contract termination costs. The Company’s restructuring charges as of December 31, 2024, including the beginning and ending liability balances, are summarized below (in thousands): Employee Termination Benefits (1)Contract Termination CostsTotalBalance at December 31, 2023$— $— $— Charges incurred (1)3,220 1,709 4,929 Cash payments made / settled(1,985)(20)(2,005)Balance at December 31, 2024$1,235 $1,689 $2,924 (1) During the year ended December 31, 2024, there were $3.6 million of employee termination benefits related to share-based compensation excluded from the table above as they are