Viatris to acquire Pacira BioSciences for $36.50 per share in cash

Viatris Inc. and Pacira BioSciences, Inc. announced on October 8, 2026 that they had signed a definitive merger agreement under which Viatris agreed to acquire all outstanding shares of Pacira common stock for $36.50 per share in cash, putting the deal's aggregate equity value at $1.65 billion.¹

The acquisition brings Viatris two commercial, patent-protected pain products. Pacira's portfolio includes EXPAREL (bupivacaine liposome injectable suspension) and ZILRETTA (triamcinolone acetonide extended-release injectable suspension), both already on the U.S. market.¹ Financially, Pacira reported roughly $746 million in total revenue and about $177 million in adjusted EBITDA for the twelve months ended June 30, 2026.¹

Under the deal structure, Viatris will launch a tender offer for all outstanding Pacira shares at $36.50 per share, with any shares not tendered converted in a follow-on merger at the same price.¹ The companies said the transaction, unanimously approved by both boards, remains subject to customary closing conditions including tender of a majority of Pacira's outstanding shares and expiration of the applicable regulatory waiting period.¹

According to the accompanying 8-K, the tender offer will stay open for 10 business days, subject to possible extension,¹ and either party can terminate if the offer isn't completed by April 8, 2027, with one automatic extension to July 8, 2027 possible if only antitrust-related conditions remain outstanding.¹ If the agreement is terminated under specified circumstances, Pacira would owe Viatris a termination fee of $62,000,000.¹

The company said it expects the transaction to close by the end of 2026,¹ after which Pacira would become a wholly owned subsidiary of Viatris and its shares would be delisted from the Nasdaq Global Select Market.¹ Morgan Stanley and Cravath, Swaine & Moore are advising Viatris, while Goldman Sachs and Ashurst Perkins Coie are advising Pacira.