** Shares of drugmaker Pacira BioSciences PCRX.O rise 15% to $26.35 in extended trading
** PCRX says it has settled patent lawsuit with Fresenius Kabi over co's lead drug, Exparel
** Exparel is a drug that provides extended pain relief for up to 72 hours after a surgery
** Fresenius can sell limited amounts of generic Exparel starting early 2030
** The agreement allows Fresenius to sell without volume restrictions beginning in 2039 in the U.S.
** Brokerage Jefferies says it believes that the settlement is the "key to unlocking a re-rate in the multiple" and expects the co's revenue growth to "accelerate" with the removal of litigation overhang
** As of last close, stock up 21.6% YTD
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com))
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