Pacira BioSciences, Inc. has entered into a definitive agreement to be acquired by Viatris Inc. Under the terms of the agreement, Viatris will commence a cash tender offer to purchase all outstanding shares of Pacira common stock for $36.50 per share. This represents an aggregate equity value of $1.65 billion.
The transaction is expected to close by the end of 2026, subject to customary closing conditions, including the tender of a majority of the outstanding shares and the expiration of applicable regulatory waiting periods. Upon completion, Pacira will become a wholly owned subsidiary of Viatris, and its common stock will no longer be listed on the Nasdaq Global Select Market.
Pacira’s board of directors unanimously approved the agreement and recommends that stockholders tender their shares in the tender offer. The deal is structured to be immediately accretive to Viatris’ financial guidance metrics. Viatris plans to fund the acquisition primarily with excess cash, with the remainder funded through short-term borrowings, aiming to have minimal impact on its gross leverage ratio.
Pacira brings two high-margin, patent-protected U.S. products to Viatris: EXPAREL (bupivacaine liposome injectable suspension) and ZILRETTA (triamcinolone acetonide extended-release injectable suspension). In the last twelve months ended June 30, 2026, Pacira reported approximately $746 million in total revenue and approximately $177 million in adjusted EBITDA.
The acquisition is intended to advance Viatris’s strategy to build its innovative medicines business and position the company as a leader in non-opioid pain management therapies. Viatris plans to leverage its intellectual property expertise to extend product lifecycles and expand the reach of the Pacira portfolio across select markets within its global infrastructure.
