Viatris to buy Pacira BioSciences for $1.65B in non-opioid pain push

What's the deal? ViatrisDealroom has a profile for this one. Try Dealroom → has agreed to acquire Pacira BioSciences for $36.50 per share in cash, an aggregate equity value of $1.65 billion. The all-cash deal gives the Pittsburgh-based healthcare company control of Pacira, a maker of non-opioid pain therapies based in Brisbane, California.

What's the endgame? The acquisition adds two patent-protected US products: EXPAREL, for acute postsurgical pain, and ZILRETTA, for osteoarthritis knee pain. Viatris plans to extend the products' lifecycles and expand their reach across select markets within its global infrastructure.

The numbers: Pacira generated roughly $746 million in total revenue and about $177 million in adjusted EBITDA in the 12 months ended June 30, 2026. Viatris expects the deal to be immediately accretive to its financial guidance metrics.

Why now? The two products are "synergistic with our fast-acting meloxicam market opportunity," said chief executive officer Scott A. Smith. He added that the deal positions Viatris "as a leader in non-opioid pain management therapies, an area where patients and healthcare providers continue to seek more treatment options."

The acquisition also hands Viatris Pacira's US commercial, market access, medical affairs, and global R&D capabilities. Viatris plans to fund the deal primarily from excess cash, with the remainder from short-term borrowings, keeping the impact on its gross leverage ratio minimal.

The signal: The deal reflects Viatris's push to build out an innovative medicines business as demand grows for opioid-sparing pain treatment. The transaction is expected to close by the end of 2026.

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