Viatris agreed to buy Pacira BioSciences for $36.50 a share in cash, valuing the company at $1.65 billion.
Pacira generated about $746 million in total revenue over the last 12 months ended June 30, 2026, and about $177 million in adjusted EBITDA. The deal adds two marketed products, Exparel and Zilretta, both described as patent-protected and high-margin U.S. medicines.
The acquisition also gives Viatris a larger foothold in non-opioid pain therapies. Pacira’s portfolio includes Exparel for postsurgical pain and Zilretta for osteoarthritis knee pain. Viatris said the products fit with its fast-acting meloxicam opportunity and expand its U.S. innovative medicines commercial, market access, medical affairs and global R&D capabilities.
Viatris said the transaction is expected to be immediately accretive to its financial guidance metrics. It plans to fund the deal primarily with excess cash, with the balance coming from short-term borrowings, and said it expects only a minimal impact on gross leverage.
The companies said the deal is expected to close by the end of 2026. Pacira’s board unanimously approved the transaction and recommended that stockholders tender their shares. After the tender offer and second-step merger, Pacira will become a wholly owned subsidiary of Viatris.
Pacira said nearly 20 million patients have accessed its non-opioid pain management therapies to date. Today the company's shares have moved 1.78% to a price of $25.20. Check out the company's full 8-K submission here.
