Full Breakdown
Viatris to Acquire Pacira BioSciences in $1.65 B Cash Deal
By Drooid · · How we work
Deal Overview
On October 8, Viatris announced a definitive agreement to purchase all outstanding shares of Pacira BioSciences for $36.50 per share in cash, valuing the transaction at $1.65 billion. The offer represents a 44.8% premium to Pacira’s last closing price. Pacira’s stock jumped roughly 44% in morning trading, while Viatris shares fell about 2%, according to Reuters. The acquisition is slated to close by the end of 2026 and will make Pacira a wholly owned subsidiary, delisting its common stock from the Nasdaq Global Select Market.
Strategic Rationale
Viatris said the purchase expands its portfolio beyond generic drugs into non-opioid pain management, adding the patented therapies Exparel (acute postsurgical pain) and Zilretta (knee osteoarthritis pain). The company views the move as a step toward “higher-value branded medicines” and a means to diversify revenue streams amid competitive pressure in its core generics business.
Financial Highlights
- Deal price: $36.50 per share, 44.8% premium.
- Pacira 2025 product sales: Exparel generated $575.1 million and Zilretta $116.6 million.
- Pacira 12-month results ending June 30, 2026: approximately $746 million in total revenue and $177 million in adjusted EBITDA (Investing; Tradingview).
- Viatris plans to fund the purchase primarily with excess cash, supplemented by short-term borrowings, and expects minimal impact on its gross leverage ratio.
Official Statements
Viatris CEO Scott A. Smith framed the acquisition as an “important step” in advancing the company’s innovative medicines strategy. Interim CFO Paul Campbell emphasized that the transaction is projected to be immediately accretive to Viatris’s financial guidance metrics and will be financed largely with cash, preserving the firm’s leverage profile.
Verbatim Quotes
- “The proposed transaction is expected to be immediately accretive to our financial guidance metrics,” — Paul Campbell, Interim CFO, Chief Accounting Officer & Corporate Controller, Viatris “The proposed transaction is expected to be immediately accretive to our financial guidance metrics,” — Paul Campbell, Interim CFO, Chief Accounting Officer & Corporate Controller, Viatris
- “The pending acquisition of Pacira BioSciences is an important step in advancing our strategy to build our innovative medicines business,” — Scott A. Smith, CEO, Viatris “The pending acquisition of Pacira BioSciences is an important step in advancing our strategy to build our innovative medicines business,” — Scott A. Smith, viatris CEO