Viatris has agreed to acquire Pacira BioSciences for approximately $1.65 billion in an all-cash transaction, marking a significant step in its strategy to expand its innovative medicines business and strengthen its presence in non-opioid pain management.
Announced on October 8, 2026, the agreement values Pacira at $36.50 per share (a ~45% premium over Pacira’s closing price of $25.20 prior to the announcement). The transaction is expected to close by the end of 2026, subject to shareholder participation, regulatory requirements and other customary closing conditions. Following completion, Pacira will become a wholly owned subsidiary of Viatris.
The acquisition will add two marketed, patent-protected medicines to Viatris’ portfolio. EXPAREL (bupivacaine liposome injectable suspension) is used for acute postsurgical pain, while ZILRETTA (triamcinolone acetonide extended-release injectable suspension) is indicated for osteoarthritis-related knee pain.
Viatris plans to leverage its global commercial infrastructure and intellectual property expertise to expand the reach of these products in selected international markets. The company also expects the acquisition to complement its opportunity in fast-acting meloxicam and strengthen its US commercial, market access, medical affairs and research and development capabilities.
Pacira generated approximately $746 million in revenue and $177 million in adjusted EBITDA during the 12 months ended June 30, 2026. Alongside its marketed medicines, the company brings a development pipeline focused on specialty-driven therapeutic areas.
Viatris expects the acquisition to contribute immediately to its financial guidance metrics and plans to fund it primarily through excess cash, with the remainder financed through short-term borrowings.
The deal reflects Viatris’ broader effort to build a stronger innovative medicines business while expanding access to non-opioid treatment options. However, the anticipated benefits will depend on successful completion and integration of the acquisition.
Morgan Stanley & Co. LLC is serving as financial advisor to Viatris, and Cravath, Swaine & Moore LLP is serving as legal advisor. Centerview Partners LLC also provided strategic and financial advice to Viatris.
Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Pacira, and Ashurst Perkins Coie is serving as legal advisor.
Written by: Pramit Hazra
Graphics by: Pramit Hazra
