Viatris agrees to acquire Pacira BioSciences for $1.65 billion to add Exparel and Zilretta

Viatris has agreed to acquire all outstanding shares of Pacira BioSciences for $36.50 per share in cash, valuing the equity at $1.65 billion. The two companies signed a definitive agreement, and the deal is expected to close by the end of 2026.

Pacira brings two established, patent protected, high margin products on the US market: EXPAREL® (bupivacaine liposome injectable suspension) and ZILRETTA® (triamcinolone acetonide extended release injectable suspension). In the twelve months to 30 June 2026, Pacira generated about $746 million in revenue and roughly $177 million in adjusted EBITDA. Viatris plans to draw on its intellectual property expertise and track record of extending product lifecycles and sustaining sales after competition arrives, and expects to take the products into selected markets through its global infrastructure.

Scott A. Smith, chief executive officer of Viatris, said the deal is an important step in building the company’s innovative medicines business. He said EXPAREL, used for acute postsurgical pain, and ZILRETTA, used for osteoarthritis knee pain, fit well with Viatris’s fast acting meloxicam opportunity and make it a leader in non opioid pain management, where patients and clinicians still want more options. He added that Pacira also contributes US commercial, market access, medical affairs and global R&D capabilities that complement Viatris’s existing operations, and an innovative pipeline in high value specialty areas with significant unmet need.

Paul Campbell, interim chief financial officer, chief accounting officer and corporate controller at Viatris, said the transaction is expected to be immediately accretive to the company’s financial guidance metrics. He said it will be funded mainly from excess cash, with the remainder from short term borrowings, so the impact on gross leverage should be minimal. He described the deal as consistent with a disciplined, balanced approach to capital allocation that preserves financial flexibility and offers room for cost and revenue synergies.

Frank D. Lee, chief executive officer of Pacira BioSciences, said the company set out to deliver innovative non opioid pain therapies that change patients’ lives, and that it has helped reshape pain management by raising awareness, widening access and driving adoption of opioid sparing treatments. He said he was proud of the team’s work, including building a commercial portfolio that has helped nearly 20 million patients access non opioid pain management and advancing its 5×30 strategy and pipeline. He said Viatris’s shared vision, resources and global scale should speed the company’s mission and bring its therapies to more patients.

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Related Topics and Keywords

Exparel, pacira, Pacira BioSciences, Viatris, Zilretta