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Pacira Pharmaceuticals, Inc.

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Pacira¿¿¿s third-quarter 2015 results were encouraging with the company beating both top-line and bottom-line estimates. Pacira¿¿¿s flagship product, Exparel, continues to perform well. Meanwhile, the company is making efforts to build a leadership team for driving growth of Exparel and other candidates under development. Additionally, Pacira¿¿¿s efforts to develop Exparel for oral surgery and chronic pain are encouraging. The recent resolution of the litigation involving Exparel with the FDA will remove a major overhang from the stock. Moreover, the FDA has approved a labeling supplement for Exparel that will clarify and reinforce the indications for which it was originally approved. However, we remain concerned about Pacira¿¿¿s sole dependence on Exparel for top-line growth.

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