Viatris agreed to buy Pacira Biosciences for $36.50 a share in cash, valuing the pain-therapy company at $1.65 billion.
Pacira generated about $746 million in revenue over the last 12 months ended June 30, 2026, along with about $177 million in adjusted EBITDA. The deal price represents roughly 2.2 times Pacira’s trailing revenue and about 9.3 times trailing adjusted EBITDA.
The acquisition gives Viatris two marketed products in the U.S.: Exparel, for postsurgical pain, and Zilretta, for osteoarthritis knee pain. Viatris said the businesses are expected to broaden its innovative medicines portfolio and support its fast-acting meloxicam opportunity.
Viatris said it expects the transaction to be immediately accretive to its financial guidance metrics. It plans to fund the purchase primarily with excess cash, with the balance from short-term borrowings, and said it expects only a minimal impact on its gross leverage ratio.
The companies said the deal is expected to close by the end of 2026. Pacira’s board unanimously recommended the tender offer, and the transaction still needs a majority of Pacira’s shares tendered as well as regulatory clearance.
Viatris also said the acquisition adds U.S. commercial, market access, medical affairs and global R&D capabilities, while Pacira said its commercial portfolio has helped nearly 20 million patients access non-opioid pain management. As a result of these announcements, the company's shares have moved -0.28% on the market, and are now trading at a price of $17.49. Check out the company's full 8-K submission here.
