Pacira raises $102.4 million in follow-on

Pain company Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) raised $102.4 million through the sale of 1.6 million shares at $64 in a follow-on underwritten by Jefferies; Barclays Capital; BofA Merrill Lynch; Wedbush PacGrow; and Brean Capital. Pacira proposed to raise up to $100 million in the offering on Monday, when its share price was $63.61.

Pacira markets Exparel for postoperative pain management in the U.S. The bupivacaine liposome extended-release injectable suspension uses Pacira's DepoFoam drug delivery technology. The company expects 1Q14 net product sales of $34.4 million for Exparel. ...