Pacira BioSciences (PCRX) Announces Updates to Board

Pacira BioSciences, Inc. (Nasdaq: PCRX), the industry leader in its commitment to deliver innovative, non-opioid pain therapies to transform the lives of patients, today announced that Laura Brege has been appointed Chair of the Board. Former Chair Paul J. Hastings and Andreas Wicki, PhD. have retired from the Board. These changes align with Pacira’s ongoing commitment to Board refreshment. With these changes, the Board is composed of nine directors, eight of whom are independent and five of whom have joined since October 2023. Each director brings expertise in areas important to Pacira’s business to support Pacira’s 5x30 growth-oriented plan including executive leadership, M&A, research and development, operations, commercialization, manufacturing and supply chain.

Ms. Brege brings over a decade of experience with the Company, and has extensive knowledge of Pacira’s operations, strategy and unique position in the market. She also contributes to the Board 30 years of executive management experience as well as significant operational, development and strategic expertise in the pharmaceutical and biotechnology industries. Ms. Brege has held executive or strategic advisory positions at companies such as BridgeBio Pharma, Inc., Onyx Pharmaceuticals, Inc., and COR Therapeutics, Inc., and has led multiple functions including sales and marketing, business development, commercialization, strategic planning, corporate development, and medical, scientific and government affairs. Ms. Brege’s financial background and extensive experience helping companies develop, deliver and commercialize treatments that improve the lives of patients will be an asset to Pacira as it executes its new 5x30 growth strategy.

“I am honored to step into the role of Chair and look forward to continuing to work with my fellow directors, leadership team and the talented Pacira employees to drive our long-term success,” said Ms. Brege. “This is an exciting time for Pacira as we execute on our new 5x30 growth strategy to drive innovation and create value in the significant and growing markets of high unmet need. I look forward to working with the Board and the management team to help guide the Company toward even greater success while advancing Pacira’s mission of providing non-opioid pain management options to as many patients as possible.”

During his nearly 14-year tenure, Mr. Hastings had a pivotal role in Pacira becoming a leading provider of innovative non-opioid pain management solutions with a portfolio of three best-in-class commercial assets. The Board of Directors is grateful for his strategic insights and many contributions to the company. Dr. Wicki, who has served on the Board since 2006, has been instrumental in overseeing and supporting the execution of Pacira’s strategy and the Board thanks him for his service and leadership.

“I have had the privilege of working alongside an extraordinary team at Pacira for the past 14 years and I am incredibly proud of all that we have accomplished to improve patient care and quality of life,” said Mr. Hastings. “It has been an honor to work with my fellow Board members to oversee the evolution of Pacira’s strategy, including the recent hiring of Frank Lee who has the company on a very strong trajectory and the four new independent directors. Laura is an experienced leader with a deep understanding of the business and its opportunities for value creation, and as we approach the next phase of growth, the Board and I believe that it is good governance and is the right time to transition Board leadership.”

Today’s announcement marks an important milestone in Pacira’s ongoing Board transformation, which began 15 months ago with the appointment of four new independent directors. Pacira remains confident that the current composition of the Board combines the right mix of skills and expertise to oversee the Company’s strategic plan and drive value for Pacira shareholders. In connection with these changes, the Board has also refreshed committee assignments and appointed Alethia Young to succeed Ms. Brege as Chair of the Audit Committee.

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