Viatris has agreed to acquire Pacira BioSciences for $1.65 billion in an all-cash deal to expand its non-opioid pain management portfolio. Viatris will pay $36.50 per share, representing a 45% premium. The acquisition adds Pacira's treatments Exparel and Zilretta, which generated over $690 million in combined 2025 sales. The deal, expected to close by late 2026, aims to bolster Viatris' position alongside its upcoming FDA decision on fast-acting meloxicam.
Terms and timeline of the acquisition
- ▪Viatris' acquisition price of $36.50 per share represents a premium of approximately 45% to Pacira BioSciences' closing price of $25.20 on October 7, 2026
- ▪Viatris agreed to acquire Pacira BioSciences for $1.65 billion in an all-cash deal, paying $36.50 per share
Acquired pain treatments
- ▪Exparel is used to manage acute pain following surgery, while Zilretta is used to treat pain associated with osteoarthritis of the knee
- ▪Viatris' acquisition adds Pacira BioSciences' non-opioid pain treatments Exparel and Zilretta, which generated 2025 sales of $575.1 million and $116.6 million, respectively, to Viatris' portfolio
Financial impact and funding of the transaction
- ▪Viatris stated that the acquisition of Pacira BioSciences would have a minimal impact on the gross leverage ratio of Viatris
- ▪Viatris expects to fund the acquisition of Pacira BioSciences primarily using excess cash, with the remainder covered by short-term borrowings
- ▪Viatris expects the acquisition of Pacira BioSciences to be immediately accretive to the financial guidance metrics of Viatris upon closing
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