{"schema_version":"1.0","type":"article","title":"台微體止痛新藥贏過Exparel，授權價看漲","url":"https://drugnews.com.tw/articles/2026-10-23-tlc590-exparel-postsurgical-pain-phase3.html","markdown_url":"https://drugnews.com.tw/articles/2026-10-23-tlc590-exparel-postsurgical-pain-phase3.md","lang":"zh-Hant","date":"2026-10-23","publish_at":"2026-10-23T08:00:00+08:00","updated_at":"2026-10-23","category":"商業分析系列","topic":"公司研究","tags":["術後止痛","TLC590","TLC-KY 台微體","Exparel","非鴉片止痛藥"],"summary":"開完刀最痛那幾天，美國醫院靠 Exparel。Viatris 才花 16.5 億美元買下它，11 天後台灣 TLC-KY 的 TLC590 在三期正面對打：止痛贏、鴉片也用得少，168 小時仍顯著。","key_points":["到 2027 年 12 月 31 日前，TLC-KY（7924）會簽下 TLC590 的美國授權，首付款高於 TLC599 在 2022 年授權 Endo 時的 3,000 萬美元；依據是 TLC590 在 2026 年 10 月 19 日公布的三期中，次要指標頭對頭贏過 Exparel。","TLC590 三期收 304 位拇趾外翻手術病人，主要指標術後 72 小時疼痛顯著低於安慰劑（p=0.0024），對 Exparel 的 72 小時疼痛（p=0.0202）與鴉片類用量（p=0.0177）也顯著較低，168 小時仍顯著（p=0.0226）。","Viatris 在 2026 年 10 月 8 日宣布以每股 36.5 美元、約 16.5 億美元收購 Exparel 的 Pacira；Exparel 2025 年淨銷售 5.751 億美元，2026 年第二季 1.478 億美元，年增 3%。"],"facts":[{"claim":"TLC590 三期受試者人數","value":304,"unit":"人","as_of":"2026-10-19","source":"https://udn.com/news/story/7241/9824345"},{"claim":"TLC590 對安慰劑 72 小時整體疼痛 p 值（主要指標）","value":0.0024,"unit":"p 值","as_of":"2026-10-19","source":"https://udn.com/news/story/7241/9824345"},{"claim":"TLC590 對安慰劑 救援鴉片類用量 p 值","value":0.0109,"unit":"p 值","as_of":"2026-10-19","source":"https://udn.com/news/story/7241/9824345"},{"claim":"TLC590 對 Exparel 72 小時整體疼痛 p 值（次要指標）","value":0.0202,"unit":"p 值","as_of":"2026-10-19","source":"https://udn.com/news/story/7241/9824345"},{"claim":"TLC590 對 Exparel 救援鴉片類用量 p 值（次要指標）","value":0.0177,"unit":"p 值","as_of":"2026-10-19","source":"https://udn.com/news/story/7241/9824345"},{"claim":"TLC590 對安慰劑 168 小時整體疼痛 p 值","value":0.0168,"unit":"p 值","as_of":"2026-10-19","source":"https://udn.com/news/story/7241/9824345"},{"claim":"TLC590 對 Exparel 168 小時整體疼痛 p 值","value":0.0226,"unit":"p 值","as_of":"2026-10-19","source":"https://udn.com/news/story/7241/9824345"},{"claim":"Viatris 收購 Pacira 每股現金價","value":36.5,"unit":"美元","as_of":"2026-10-08","source":"https://www.indianpharmapost.com/ma/viatris-to-acquire-pacira-biosciences-for-165-billion-bolstering-non-opioid-pain-treatment-portfolio-22115"},{"claim":"Viatris 收購 Pacira 交易總額","value":1.65,"unit":"十億美元","as_of":"2026-10-08","source":"https://www.indianpharmapost.com/ma/viatris-to-acquire-pacira-biosciences-for-165-billion-bolstering-non-opioid-pain-treatment-portfolio-22115"},{"claim":"Exparel 2025 年淨產品銷售","value":575.1,"unit":"百萬美元","as_of":"2026-02-26","source":"https://investor.pacira.com/node/19206"},{"claim":"Exparel 2024 年淨產品銷售","value":549,"unit":"百萬美元","as_of":"2026-02-26","source":"https://investor.pacira.com/node/19206"},{"claim":"Exparel 2026 年第二季淨產品銷售","value":147.8,"unit":"百萬美元","as_of":"2026-08-04","source":"https://www.sec.gov/Archives/edgar/data/0001396814/000162828026052527/pcrx-06302026x991.htm"},{"claim":"Exparel 2026 年上半年淨產品銷售","value":291.1,"unit":"百萬美元","as_of":"2026-08-04","source":"https://www.sec.gov/Archives/edgar/data/0001396814/000162828026052527/pcrx-06302026x991.htm"},{"claim":"Journavx 2026 年第二季營收","value":50,"unit":"百萬美元","as_of":"2026-08-05","source":"https://www.managedhealthcareexecutive.com/view/acute-pain-drug-journavx-helps-drive-vertex-growth-in-second-quarter"},{"claim":"Journavx 2026 年第二季營收季增率","value":71,"unit":"%","as_of":"2026-08-05","source":"https://www.managedhealthcareexecutive.com/view/acute-pain-drug-journavx-helps-drive-vertex-growth-in-second-quarter"},{"claim":"Journavx 2026 年上半年處方數","value":"約 90 萬","unit":"張","as_of":"2026-08-05","source":"https://www.managedhealthcareexecutive.com/view/acute-pain-drug-journavx-helps-drive-vertex-growth-in-second-quarter"},{"claim":"Zynrelef 2026 年第二季淨產品銷售","value":11.1,"unit":"百萬美元","as_of":"2026-08-10","source":"https://ir.herontx.com/node/17851"},{"claim":"TLC599 授權 Endo 首付款（2022 年）","value":30,"unit":"百萬美元","as_of":"2022-06-13","source":"https://www.newswire.ca/news-releases/endo-executes-agreement-with-tlc-to-commercialize-phase-3-orthopedic-product-for-the-treatment-of-osteoarthritis-knee-pain-853434315.html"},{"claim":"TLC599 授權 Endo 首付加開發法規生產里程碑上限","value":140,"unit":"百萬美元","as_of":"2022-06-13","source":"https://www.newswire.ca/news-releases/endo-executes-agreement-with-tlc-to-commercialize-phase-3-orthopedic-product-for-the-treatment-of-osteoarthritis-knee-pain-853434315.html"},{"claim":"TLC599 日本授權總金額上限","value":203,"unit":"百萬美元","as_of":"2026-10-19","source":"https://udn.com/news/story/7252/9822494"},{"claim":"TLC-KY 重登興櫃每股參考價","value":200,"unit":"新台幣元","as_of":"2026-06-25","source":"https://udn.com/news/story/7254/9589022"},{"claim":"TLC590 相關專利數","value":"90 餘件","unit":"件","as_of":"2026-10-19","source":"https://udn.com/news/story/7241/9824345"}],"sections":["01｜開完刀最痛的三天，美國醫院靠什麼撐","02｜同一把尺：四個非鴉片止痛藥誰在賺錢","03｜TLC590 這次證明了什麼","04｜Viatris 剛買下 Exparel，TLC590 的價碼反而變高","05｜台灣主角：TLC-KY 從下櫃到三期翻身","台股連結","參考資料"],"references":[{"title":"TLC新藥三期大勝、碾壓美國主流藥 挾Best in Class優勢搶攻百億商機","source":"經濟日報（聯合新聞網","date":"2026-10-19","url":"https://udn.com/news/story/7241/9824345"},{"title":"TLC-KY長效止痛新藥解盲成功 預計最快明年底美國上市","source":"自由時報","date":"2026-10-19","url":"https://ec.ltn.com.tw/article/breakingnews/5611408"},{"title":"TLC停牌 新藥解盲聚焦","source":"經濟日報（聯合新聞網","date":"2026-10-19","url":"https://udn.com/news/story/7252/9822494"},{"title":"快訊／注意！這家生技股下午4點召開重訊 說明新藥解盲結果","source":"三立新聞網","date":"2026-10-19","url":"https://www.setn.com/news/1924944"},{"title":"Viatris to acquire Pacira BioSciences for $1.65 billion bolstering non-opioid pain treatment portfolio","source":"Indian Pharma Post","date":"2026-10-11","url":"https://www.indianpharmapost.com/ma/viatris-to-acquire-pacira-biosciences-for-165-billion-bolstering-non-opioid-pain-treatment-portfolio-22115"},{"title":"Viatris communications regarding tender offer for Pacira（Form SC TO-C, Ex.99.1","source":"SEC","date":"2026-10-08","url":"https://www.sec.gov/Archives/edgar/data/0001396814/000114036126039148/ef20083527_ex99-1.htm"},{"title":"Pacira BioSciences Reports Fourth Quarter and Full-Year 2025 Financial Results","source":"Pacira BioSciences","date":"2026-02-26","url":"https://investor.pacira.com/node/19206"},{"title":"Pacira BioSciences Q2 2026 results（Form 8-K, Ex.99.1","source":"SEC","date":"2026-08-04","url":"https://www.sec.gov/Archives/edgar/data/0001396814/000162828026052527/pcrx-06302026x991.htm"},{"title":"Acute pain drug Journavx helps drive Vertex growth in second quarter","source":"Managed Healthcare Executive","date":"2026-08-05","url":"https://www.managedhealthcareexecutive.com/view/acute-pain-drug-journavx-helps-drive-vertex-growth-in-second-quarter"},{"title":"Vertex Announces FDA Approval of JOURNAVX (suzetrigine), a First-in-Class Treatment for Moderate-to-Severe Acute Pain","source":"Vertex Pharmaceuticals","date":"2025-01-30","url":"https://investors.vrtx.com/news-releases/news-release-details/vertex-announces-fda-approval-journavxtm-suzetrigine-first-class"},{"title":"Heron Therapeutics Announces Second Quarter 2026 Financial Results","source":"Heron Therapeutics","date":"2026-08-10","url":"https://ir.herontx.com/node/17851"},{"title":"Heron Therapeutics combo drug for post-surgical pain wins FDA nod on third try","source":"MedCity News","date":"2021-05-13","url":"https://medcitynews.com/2021/05/heron-therapeutics-combo-drug-for-post-surgical-pain-wins-fda-nod-on-third-try/"},{"title":"Endo Executes Agreement with TLC to Commercialize Phase 3 Orthopedic Product for the Treatment of Osteoarthritis Knee Pain","source":"Endo International（Cision","date":"2022-06-13","url":"https://www.newswire.ca/news-releases/endo-executes-agreement-with-tlc-to-commercialize-phase-3-orthopedic-product-for-the-treatment-of-osteoarthritis-knee-pain-853434315.html"},{"title":"台微體改名TLC-KY重新登興櫃…每股參考價200元 創今年生技股掛牌新高","source":"經濟日報（聯合新聞網","date":"2026-06-25","url":"https://udn.com/news/story/7254/9589022"}],"images":[{"alt":"圖1｜三種止痛藥，擋同一道門","url":"https://drugnews.com.tw/assets/articles/tlc590-exparel-postsurgical-pain-phase3/figure-01.png"},{"alt":"圖2｜術後止痛，誰真的在賺錢","url":"https://drugnews.com.tw/assets/articles/tlc590-exparel-postsurgical-pain-phase3/figure-02.png"},{"alt":"圖3｜三期結果一張看懂","url":"https://drugnews.com.tw/assets/articles/tlc590-exparel-postsurgical-pain-phase3/figure-03.png"},{"alt":"圖4｜TLC590 的路線圖","url":"https://drugnews.com.tw/assets/articles/tlc590-exparel-postsurgical-pain-phase3/figure-04.png"}],"cover_image":"https://drugnews.com.tw/assets/articles/tlc590-exparel-postsurgical-pain-phase3/cover.png","publisher":{"name":"Drugnews｜藥時事","url":"https://drugnews.com.tw/","profile":"https://drugnews.com.tw/brand-profile.json"},"citation":"Drugnews｜藥時事（2026-10-23）。台微體止痛新藥贏過Exparel，授權價看漲。https://drugnews.com.tw/articles/2026-10-23-tlc590-exparel-postsurgical-pain-phase3.html","disclaimer":"本文僅供產業研究與知識分享，不構成投資、醫療、募資或個股建議。","translations":{},"relationship":"independent_editorial","disclosure_url":"https://drugnews.com.tw/policy/"}