Viatris Inc. has entered into a definitive agreement to acquire Pacira BioSciences, Inc. Under the terms of the agreement, Viatris will acquire all outstanding shares of Pacira common stock for $36.50 per share in cash. This represents an aggregate equity value of $1.65 billion.

The transaction is structured as a two-step process. First, Viatris will commence a tender offer to acquire the shares, which will remain open for 10 business days. Following the completion of the tender offer, Viatris will acquire any remaining shares not tendered through a second-step merger. Upon completion, Pacira will become a wholly owned subsidiary of Viatris and will no longer be listed on the Nasdaq Global Select Market.

Pacira brings two established, high-margin, patent-protected products to Viatris: EXPAREL (bupivacaine liposome injectable suspension) and ZILRETTA (triamcinolone acetonide extended-release injectable suspension). The company reported approximately $746 million in total revenue and approximately $177 million in adjusted EBITDA for the last twelve months ended June 30, 2026.

The transaction, unanimously approved by the boards of directors of both companies, is expected to close by the end of 2026. Viatris plans to fund the deal primarily with excess cash, with the remainder from short-term borrowings. The company expects the acquisition to be immediately accretive to its financial guidance metrics and to have a minimal impact on its gross leverage ratio.

Investors can listen to a conference call regarding Viatris’ third-quarter 2026 financial results and the Pacira transaction on Thursday, Nov. 5, 2026, at 8:30 a.m. ET.