Viatris Acquires Pacira BioSciences in $1.65 Billion Deal to Expand Non-Opioid Pain Portfolio

Viatris Inc. has entered into a definitive agreement to acquire Pacira BioSciences Inc. in an all-cash transaction valued at approximately $1.65 billion ($36.50 per share). This strategic move is designed to bolster Viatris’ innovative medicines business and expand its footprint in the non-opioid pain management market.

Key Strategic Highlights

Valuation & Financing: Viatris will pay $36.50 per share in cash for an aggregate equity value of roughly $1.65 billion. The acquisition will be financed primarily through excess cash and short-term borrowings.
Portfolio Additions: The deal incorporates Pacira’s two flagship, patent-protected, marketed products:
- EXPAREL (bupivacaine liposome injectable suspension) for postsurgical pain management.
- ZILRETTA (triamcinolone acetonide extended-release injectable suspension) for osteoarthritis-related knee pain.
Pipeline Expansion: Includes Pacira’s clinical-stage development portfolio focused on musculoskeletal pain, such as PCRX-201 (an investigational gene therapy for knee osteoarthritis).
Financial Impact: Pacira generated about $746 million in total revenue and $177 million in adjusted EBITDA for the 12-month period ending June 30, 2026. Viatris anticipates the transaction to be immediately accretive to its financial guidance metrics with minimal impact on gross leverage.
Timeline: The transaction is expected to close by the end of 2026, subject to customary closing conditions.