Viatris Bets Big on Non-Opioid Painkillers With Pacira Buyout

Viatris Inc. (NASDAQ:VTRS) announced Thursday that it agreed to acquire Pacira BioSciences Inc. (NASDAQ:PCRX) for $1.65 billion, strengthening its position in non-opioid pain management.

Under the agreement, Viatris will pay $36.50 per share in cash for all outstanding Pacira shares. Viatris reported $886.5 million in cash and cash equivalents for its second fiscal quarter ending June 30, 2026.

Following the announcement, Viatris stock fell nearly 3%, while Pacira BioSciences stock surged more than 44%.

Deal Expands Viatris’ Pain Management Portfolio

The acquisition will add two established, patent-protected treatments to Viatris’ portfolio.

EXPAREL treats acute pain following surgery, while ZILRETTA provides extended-release treatment for knee pain associated with osteoarthritis.

Pacira generated approximately $746 million in revenue and $177 million in adjusted EBITDA during the 12 months ended June 30, 2026.

Viatris also plans to expand the products into select international markets through its global distribution network.

CEO Scott Smith said the acquisition supports Viatris’ strategy to expand its innovative medicines business.

He added that Pacira’s products complement Viatris’ fast-acting meloxicam opportunity. The deal also strengthens the company’s U.S. commercial operations, market access, medical affairs and research capabilities.

Acquisition Expected to Boost Earnings

Viatris expects the transaction to immediately contribute positively to its financial guidance metrics.

Interim CFO Paul Campbell said the company plans to fund most of the purchase using excess cash, with the remainder coming from short-term borrowing.

As a result, Viatris expects minimal impact on its gross leverage ratio while maintaining financial flexibility.

The company also anticipates opportunities to reduce costs and increase revenue through operational synergies.

Deal Expected to Close by Year-End

Both companies’ boards unanimously approved the transaction, which remains subject to regulatory clearance and shareholder tender conditions.

Viatris expects to complete the acquisition by the end of 2026. Following the transaction, Pacira will become a wholly owned subsidiary, and its shares will stop trading on Nasdaq.

Price Action: Viatris shares were down 2.66% at $17.02 and Pacira BioSciences shares were up 44.05% at $36.29 at the time of publication on Thursday, according to Benzinga Pro data.

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