Viatris to buy pain therapy maker Pacira BioSciences for $1.65 billion
VTRS•Viatris will acquire Pacira BioSciences for $1.65 billion in cash, paying $36.50 per share, a 44.8% premium to Pacira’s last closing price. The deal is expected to close by the end of 2026 and be immediately accretive to Viatris’ financial guidance metrics.
1. Deal terms
Viatris will pay $36.50 per share for Pacira, a 44.8% premium to its last closing price. Viatris expects to fund the acquisition primarily with excess cash and the rest with short-term borrowings; it said the transaction would have minimal impact on its gross leverage ratio.
2. Pain treatments
The acquisition would add Pacira’s non-opioid pain treatments Exparel and Zilretta, which generated sales of $575.1 million and $116.6 million, respectively, in 2025. Exparel is used to manage acute pain following surgery, while Zilretta treats pain associated with knee osteoarthritis. Viatris said it expects to expand the products’ reach across select markets.
3. Expected close
The deal is expected to close by the end of 2026 and be immediately accretive to Viatris’ financial guidance metrics. The FDA is expected to decide by December 27 on approval of fast-acting meloxicam for moderate-to-severe acute pain.
