Viatris said on 8 October it will acquire Pacira BioSciences for $36.50 per share in cash, valuing the pain-therapy company's equity at about $1.65bn. Pacira shares jumped more than 40% on the news.
Market context
The deal adds two marketed US products, EXPAREL and ZILRETTA, and marks a push by Viatris into branded, non-opioid pain medicines to diversify a portfolio heavy in older off-patent drugs. It is structured as a tender offer, so no Pacira shareholder vote is needed, and is expected to close by year-end subject to majority tender and antitrust clearance.
