Updated Version 3 - Viatris Bets on the Non-Opioid Pain Medication Sector with a $1.65 Billion Acquisition of Pacira
路透社2026/10/08 14:46Viatris has proposed an acquisition price of $36.50 per share, representing a 44.8% premium over Pacira’s last closing price. This acquisition will drive Viatris’ transition from the generic drug business to the field of patented pharmaceuticals. The company stated that the transaction is expected to be completed by the end of 2026 and will immediately enhance its financial metrics. On Thursday, Siddhi Mahatole from Reuters reported that pharmaceutical company Viatris (VTRS.O) announced a $1.65 billion cash acquisition of Pacira BioSciences (PCRX.O), aiming to add two non-opioid pain medications to its portfolio and expand beyond its core generic drugs into the high-value branded drug market. Viatris will acquire Pacira at $36.50 per share, a 44.8% premium over its last trading day closing price. In early trading, Pacira’s stock surged around 44%, while Viatris shares fell nearly 2%. Oppenheimer analyst Les Sulewski commented that the premium was “full price” and noted limited antitrust risk. He mentioned that Pacira has faced pressure from activist investors since November 2025, and with the stock close to the offer price, investors appear confident the deal will close with limited expectations for a higher bid. Through this transaction, Viatris will obtain Pacira’s “Exparel” (for the management of acute postsurgical pain) and “Zilretta” (for pain associated with osteoarthritis of the knee). In 2025, these two products are expected to achieve net sales of $575.1 million and $116.6 million respectively. Viatris stated it plans to promote these drugs in select international markets, seeking new growth drivers while deepening its presence in the patented drug segment. CEO Scott Smith said the acquisition “creates synergies with our fast-acting Meloxicam market opportunity and positions us as a leader in non-opioid pain therapeutics.” The US Food and Drug Administration is expected to decide by December 27 whether to approve Viatris’ rapid-acting Meloxicam for the treatment of moderate to severe acute pain. Viatris said it plans to mainly use excess cash to finance the acquisition, with the remainder raised through short-term borrowing. The company noted the deal will have a minimal impact on its overall leverage. Previously, Viatris raised its annual adjusted profit forecast in August thanks to strong branded drug sales and growth in the Chinese market. However, the company continues to face pressures from manufacturing setbacks in India, including a fire at its Nashik plant, as well as intense competition in the generics market. Both parties expect the deal to be completed by the end of 2026. Viatris said the acquisition will immediately improve its financial guidance metrics.
Full revision, updated share price data in paragraph 2, and added analyst commentary in paragraph 3.
Siddhi Mahatole
Reuters, October 8 - Pharmaceutical company Viatris (VTRS.O) announced Thursday that it will acquire Pacira BioSciences (PCRX.O) for $1.65 billion in cash, a move that will add two non-opioid pain medications to its portfolio and aims to expand into the high-value branded drug market beyond its core generic drugs business.
Viatris will acquire at a price of $36.50 per share, representing a 44.8% premium over the previous trading day’s closing price. In early trading, Pacira stock surged by about 44% while Viatris shares dropped nearly 2%.
Oppenheimer analyst Les Sulewski said the premium was “full priced,” and he believes there is limited antitrust overlap risk. He noted that since November 2025, Pacira has been under pressure from activist investors, and commented that Pacira’s stock price being close to the offer indicates investor confidence the deal will close, with little expectation for higher bids.
Through the deal, Viatris will acquire Pacira’s “Exparel” (for alleviating acute post-surgical pain) and “Zilretta” (for treatment of knee osteoarthritis-related pain). In 2025, these drugs are expected to reach net sales of $575.1 million and $116.6 million, respectively.
Viatris stated it intends to promote these two drugs in certain international markets, seeking new growth drivers while deepening its presence in the patent-protected pharmaceuticals sector.
Viatris CEO Scott Smith said the acquisition “creates synergies with our rapidly growing meloxicam market opportunity and establishes us as a leader in non-opioid pain management therapies.”
The US Food and Drug Administration is expected to decide by December 27 whether to approve Viatris’ fast-acting meloxicam for the treatment of moderate-to-severe acute pain.
Viatris stated it plans to primarily use excess cash to fund the acquisition, with the remainder to be raised through short-term borrowings. The company said the transaction will have minimal impact on its overall leverage ratio.
Previously, thanks to strong branded drug sales and growth in the Chinese market, Viatris in August raised its annual adjusted profit forecast (link).
However, the company still faces pressure from production setbacks in India, including a fire at its Nashik plant and intensifying competition in the generic drug market. (link)
The two sides expect the deal to close by the end of 2026. Viatris stated the acquisition will immediately boost its financial guidance metrics.
(To facilitate non-native English speakers, Reuters provides its coverage translated automatically into multiple languages. As automated translation may contain errors or lack context, Reuters does not guarantee the accuracy of the translated texts, which are provided solely for the convenience of readers. Reuters is not liable for any damage or loss caused by the use of automated translation services.)
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