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Pacira falls on poor Q1 results

The tiny drugmaker provided an update on the launch of Exparel, its injectable postsurgical pain reliever, and announced Q1 earnings results. Sales rose 49% to $11.6 mil, missing Wall Street's $13.22 mil target. Pacira Pharmaceuticals (PCRX) lost 71 cents per share, worse than the 47-cents-a-share loss last year, and 41-cent loss analysts expected. Exparel sales totaled $10.4 mil, up from $7.8 mil in Q4 '12. The number of accounts ordering Exparel rose to 1,065 from 819 in the December-ended quarter. Shares fell 4.3% to 25.84.