Viatris to Acquire Pacira for $1.65 Billion

Pittsburgh, Pennsylvania, U.S., and Brisbane, California, U.S., October 8, 2026

Viatris Expands Its Non-Opioid Pain Treatment Portfolio

The proposed acquisition would add Pacira’s established pain management medicines to Viatris’ existing pharmaceutical portfolio. EXPAREL is a long-acting local anesthetic formulation designed to provide postsurgical pain relief, while ZILRETTA is an extended-release injectable corticosteroid used to manage pain associated with osteoarthritis of the knee. Both products are marketed in the United States and are protected by intellectual property. Viatris said the medicines would complement its strategy of expanding its innovative medicines business and strengthening its position in therapeutic areas with significant patient needs. The company plans to apply its commercial infrastructure, market access expertise and intellectual property capabilities to support the products’ long-term growth and potential expansion into selected markets. Pacira reported approximately $746 million in total revenue and approximately $177 million in adjusted EBITDA for the 12 months ended June 30, 2026. These established products and their commercial performance are central to the proposed transaction, which Viatris expects to contribute positively to its financial guidance metrics shortly after completion. The acquisition would also add Pacira’s commercial, medical affairs, market access and research and development capabilities to Viatris’ existing operations. These resources could help support the development and commercialization of additional therapies in specialty-driven areas.

Acquisition Supports Viatris’ Innovative Medicines Strategy

Viatris has been working to build its innovative medicines business while maintaining its broader global healthcare portfolio. The proposed Pacira acquisition represents a significant investment in branded pain therapies and is intended to accelerate the company’s growth strategy. The deal is expected to complement Viatris’ opportunity in fast-acting meloxicam, an investigational product for acute pain that was awaiting an FDA decision at the time of the announcement. Together, these assets could strengthen Viatris’ presence across different pain management settings, including postsurgical pain and osteoarthritis-related knee pain. However, the outcome of any regulatory review of meloxicam remains separate from the Pacira acquisition. Viatris expects to finance the transaction primarily through excess cash, with the remainder funded by short-term borrowings. According to the company, this approach is expected to preserve financial flexibility and have a minimal impact on its gross leverage ratio. The company also anticipates opportunities for cost and revenue synergies, although the actual benefits will depend on integration and future commercial performance. The proposed transaction aligns with a broader industry focus on developing and commercializing non-opioid pain management options. Such treatments may provide alternatives for appropriate patients and clinical settings, although their suitability depends on individual medical circumstances and product-specific evidence.

$1.65 Billion Deal Awaits Closing Conditions

Under the agreement, Viatris will commence a tender offer to acquire all outstanding Pacira common shares for $36.50 per share in cash. Following completion of the tender offer, any remaining shares will be acquired through a second-step merger for the same consideration. The boards of directors of both companies have unanimously approved the transaction. Pacira’s board has recommended that shareholders tender their shares in the offer. Completion remains subject to customary closing conditions, including the tender of a majority of Pacira’s outstanding shares and expiration of the applicable regulatory waiting period. If completed as expected by the end of 2026, Pacira will become a wholly owned subsidiary of Viatris, and its common stock will no longer trade independently on Nasdaq. Until closing, both companies remain separate entities and the acquisition should be described as a proposed transaction rather than a completed takeover. The deal marks a major development in Viatris’ strategy to expand its innovative medicines business and establish a stronger position in non-opioid pain therapies. Its eventual impact will depend on closing the transaction, integrating the businesses and sustaining the commercial performance of Pacira’s medicines.

Source: Viatris, Pacira BioSciences press release