Monitor HSR review timeline and any competing bids; the deal is expected to close by end of 2026. Viatris's Q3 2026 earnings call on Nov 5, 2026 will provide further details on financing and integration plans.
Price Chart
Executive Summary
Viatris (VTRS) has agreed to acquire Pacira BioSciences (PCRX) for $36.50 per share in cash, representing an aggregate equity value of $1.65 billion. The deal adds two marketed, patent-protected, high-margin non-opioid pain therapies (EXPAREL and ZILRETTA) to Viatris's portfolio and is expected to close by the end of 2026, subject to regulatory approval and tender of a majority of Pacira shares.
Key Financial Metrics
Key Facts
- Viatris to acquire all outstanding shares of Pacira for $36.50 per share in cash, aggregate equity value of $1.65 billion.
- Pacira generated approximately $746 million in total revenue and approximately $177 million in adjusted EBITDA for the LTM ended June 30, 2026.
- Deal adds EXPAREL (bupivacaine liposome injectable suspension) and ZILRETTA (triamcinolone acetonide extended-release injectable suspension) to Viatris's portfolio.
- Transaction unanimously approved by both companies' boards; Pacira board recommends shareholders tender shares.
- Expected to close by end of 2026; subject to HSR Act waiting period and tender of majority of outstanding shares.
- Viatris expects to fund primarily from excess cash with remainder from short-term borrowings; deal expected to be immediately accretive to Viatris financial guidance metrics.
- Termination fee of $62 million payable by Pacira under certain circumstances (e.g., superior offer).
Financial Impact
Viatris acquiring Pacira for $1.65 billion equity value; Pacira's LTM revenue ~$746 million and adjusted EBITDA ~$177 million.
Risk Factors
- Regulatory approval under HSR Act may be delayed or conditioned.
- Integration risks and potential for lower-than-expected synergies.
- Competing acquisition proposals could emerge given the go-shop provisions.
- Pacira's revenue concentration in two products (EXPAREL and ZILRETTA) poses commercial risk.
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001140361-26-039024 |
| Document: ef20083514_ex99-1.htm | 0001140361-26-039024 |
| Document: ef20083514_8k.htm | 0001140361-26-039024 |
| Document: ef20083514_ex99-2.htm | 0001140361-26-039024 |
| Document: 0001140361-26-039024-index-headers.html | 0001140361-26-039024 |
| Document: 0001140361-26-039024-index.html | 0001140361-26-039024 |
| Document: 0001140361-26-039024.txt | 0001140361-26-039024 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 11d ago | Press Release | $18.26 $18.65 | ▲ +2.14% | ▲ +1.80% | $18.72 (+2.52%) |
Oct 8, 2026 19d ago | 8-K | $17.44 $17.64 | ▲ +1.15% | ▲ +0.55% | $18.72 (+7.34%) |
Aug 6, 2026 11w ago | 8-K | $16.29 $16.43 | ▲ +0.86% | ▲ +0.25% | $18.72 (+14.92%) |
Jun 25, 2026 17w ago | 144 | $16.33 $16.23 | ▼ −0.61% | ▼ −2.26% | $18.72 (+14.64%) |
Jun 18, 2026 18w ago | 8-K | $15.38 $15.75 | ▲ +2.41% | ▲ +3.86% | $18.72 (+21.72%) |
Jun 15, 2026 19w ago | 8-K | $16.04 $15.73 | ▼ −1.93% | ▼ −0.68% | $18.72 (+16.71%) |
May 13, 2026 24w ago | Court Ruling | $17.37 $17.26 | ▼ −0.63% | ▼ −1.41% | $18.72 (+7.77%) |
May 7, 2026 24w ago | 8-K | $17.39 $17.17 | ▼ −1.27% | ▼ −2.10% | $18.72 (+7.65%) |
May 4, 2026 25w ago | 8-K | $15.52 $15.95 | ▲ +2.77% | ▲ +1.39% | $18.72 (+20.62%) |
May 4, 2026 25w ago | Court Ruling | $15.52 $15.95 | ▲ +2.77% | ▲ +1.38% | $18.72 (+20.62%) |
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