Pacira BioSciences Inc

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION​

Washington, D.C. 20549

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PACIRA BIOSCIENCES, INC.

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Pacira BioSciences, Inc. (Nasdaq: PCRX) is the industry leader in its commitment to non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway.

The company’s long-acting local analgesic, EXPAREL® (bupivacaine liposome injectable suspension) was commercially launched in the United States in 2012. EXPAREL utilizes the company’s proprietary multivesicular liposome (pMVL) drug delivery technology that encapsulates drugs without altering their molecular structure and releases them over a desired period of time.

In 2019, Pacira acquired the ioveraº® system, a handheld cryoanalgesia device used to deliver precise, controlled doses of cold temperature only to targeted nerves, and in 2021, Pacira acquired ZILRETTA® (triamcinolone acetonide extended-release injectable suspension), the first and only extended-release, intra-articular, corticosteroid injection indicated for the management of osteoarthritis knee pain.

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FRANK D. LEE

Chief Executive Officer

Pacira has market-leading products, a clear sense of purpose, a talented team, and an unwavering commitment to our corporate mission and the impact that our three trusted products are making on patients’ lives. Consequently, we are enthusiastic for the opportunities that lie ahead for Pacira and the patients we serve.

To Our Stockholders,

2023 Accomplishments

2023 marked our tenth consecutive year of positive operating cash flows and we are on strong financial and operational footing to expand our position as the Therapeutic Area Leader in opioid-sparing postsurgical pain management. 2024 will be a key setup year to ensure we are well-positioned to drive significant and sustainable growth in 2025 and beyond. To that end, we are reshaping our executive team, reallocating ex-U.S. and early-stage development resources to the U.S. market, and reprioritizing investments to focus on the start of the Non-Opioids Prevent Addiction in the Nation (“NOPAIN”) Act and operational excellence.

EXPAREL drove profitability through its continued acceptance among healthcare providers as the market’s leading branded long-acting, local analgesic for opioid-sparing postsurgical pain management. Now in its thirteenth year on the market, EXPAREL has treated more than 14 million patients, which reflects the significant impact we are making on patients’ lives.

Among our key accomplishments in 2023 were the regulatory approvals for two key lower extremity nerve blocks and the inclusion of NOPAIN in Congress’s bipartisan Consolidated Appropriations Act of 2023.

This year we are launching EXPAREL for lower extremity nerve blocks to our customers, which we believe is going to grow into a $100 million annual opportunity over time. We have a strong presence in total knee arthroplasty (“TKA”), where anesthesiologists are already performing adductor canal blocks with bupivacaine. Consequently, we expect a faster uptake in this segment, which represents more than one million annual procedures. Conversely, we have a very limited presence in other lower extremity procedures, such as anterior cruciate ligament (“ACL”) repair or foot and ankle procedures. We expect uptake in these segments to be slower. Importantly, we are going to market with an overwhelmingly positive body of data from two head-to-head Phase 3 studies demonstrating four days of superiority to bupivacaine. With respect to safety, EXPAREL was well tolerated with a safety profile consistent with bupivacaine.

As for NOPAIN, this legislation is a real testament to Pacira’s leadership in non-opioid pain management. We believe NOPAIN will be significant for both patients and Pacira. Currently, products used to manage postsurgical pain are largely reimbursed as part of a bundled procedure payment. Bundled reimbursement incentivizes the use of cheaper, generic approaches to managing postsurgical pain that often incorporate opioids. Financial pressures facing healthcare systems further incentivize cost-driven approaches. Pacira recognized early on that bundled reimbursement caused the surgical suite to become an unintended and alarming gateway to chronic opioid use. The company started Voices for Non-Opioid Choices—a nonpartisan coalition that is the champion

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MESSAGE FROM OUR CHAIRMAN AND CHIEF EXECUTIVE OFFICER

behind getting NOPAIN over the finish line. NOPAIN mandates separate CMS reimbursement of non-opioid therapies for postsurgical pain relief across all outpatient settings. It will eliminate the cost barrier through separate reimbursement outside of the surgical bundle for outpatient procedures beginning in January 2025.

Our Mission and Culture

Pacira has market-leading products, a clear sense of purpose, a talented team, and an unwavering commitment to our corporate mission and the impact that our three trusted products are making on patients’ lives. Consequently, we are enthusiastic for the opportunities that lie ahead for Pacira and the patients we serve. This is a special company that I am both humbled and honored to lead through its next phase of growth. Going forward, we will focus on fostering a culture we call One Pacira, grounded on key values and behaviors that include trust, transparency, two-way communication, talent development, and diversity, equity, and inclusion. Throughout my career, I have experienced firsthand how a positive corporate culture plays an essential role in attracting and retaining top talent and driving strong organizational and operational performance.

Commitment to Sustainability

Pacira’s longstanding commitment to sustainability was one of the driving factors behind my decision to join the Company. Our team holds a strong and shared belief that responsible corporate citizenship and sustainable performance are vital to the health of our Company. We’re driving opioid-sparing innovation every day to provide better ways to manage pain safely and effectively, with a commitment to our patients, our culture, and our communities at the core of everything we do.

While we have achieved much, our work is not yet done. In 2024, our Compensation Committee has tied nearly one-third of our corporate goals to be centered around Culture and People. This includes investment in employee development and advancement of our Environmental, Social and Governance (“ESG”) programs.

Building Shareholder Value

Looking ahead, we will hold ourselves accountable to build real shareholder value. We have a commercial portfolio of three best-in-class opioid-sparing products and we remain confident in our ability to grow EXPAREL to blockbuster status by advancing key growth drivers in 2024 and beyond. These include launching EXPAREL in two new lower extremity nerve block indications, preparing for the rollout of NOPAIN in 2025, and expanding patient access to EXPAREL through 340B drug program pricing and new group purchasing organization partnerships.

I want to thank you, our shareholders, and partners on this journey, for the warm welcome and encouragement I’ve received since taking the helm at Pacira.

Together, we are changing the course of pain management and, hopefully, saving patients from the deadly effects of opioid addiction.

All the best,

Chief Executive Officer

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Notice of the 2024 Annual Meeting of Stockholders of Pacira BioSciences, Inc.

You can find more information, including the nominees for directors and details regarding our independent registered public accounting firm and executive compensation in the attached proxy statement.

The list of stockholders entitled to vote at the Annual Meeting will be available for examination by

stockholders for any purpose germane to the Annual Meeting, upon request, for the 10 days prior to the Annual Meeting at our principal executive office, 5401 West Kennedy Boulevard, Suite 890, Tampa, Florida 33609.

Please read the enclosed information carefully before submitting your proxy.

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