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Fly News Breaks for February 16, 2018
PCRX
Feb 16, 2018 | 07:36 EDT
Needham analyst Serge Belanger downgraded Pacira to Hold from Buy, citing the AdCom panel decision against the label expansion to nerve blockers for Exparel. The analyst notes that while the vote was 6-4 against, five of the anesthesiologists on the panel voted 4-1 against approval, making it more unlikely that the FDA will approve the label expansion even for a narrow indication. Belanger says that he previously viewed the nerve block label as a key growth driver and will have to revise his expectations.
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