Pacira Patent Void Surprised Investors to Big Selloff, Suit Says

Pacira Biosciences, Inc., current and past executives misled investors on the viability of a patent for its top-selling drug amid litigation, leading to a record stock drop in August 2024, a proposed class action says.

Pacira issued rosy projections about the protection of its post-surgical painkiller after the company had already sustained an adverse ruling, and then the same federal court canceled its ‘495 patent, investor Leandro Alvarez said in a complaint filed Monday in the US District Court for the District of New Jersey.

The company had touted its ability to continue expanding use of Exparel, and the ...