Recent Updates — PCRX

Viatris Inc. has entered into a definitive Agreement and Plan of Merger to acquire all outstanding shares of Pacira BioSciences, Inc. for $36.50 per share in cash, representing an aggregate equity value of approximately $1.65 billion. The transaction involves a two-step process: Viatris will first commence a cash tender offer for at least 50% plus one share of Pacira’s common stock, followed by a second-step merger to acquire any remaining shares. Both boards unanimously approved the deal and recommend that Pacira shareholders tender their shares. The acquisition is subject to customary closing conditions, including regulatory approval under the Hart-Scott-Rodino Act and the tender of a majority of outstanding shares. Viatris expects the transaction to close by the end of 2026 and anticipates it will be immediately accretive to its financial guidance metrics. Pacira BioSciences, Inc. develops and commercializes innovative non-opioid pain therapies.

Pacira BioSciences reported second quarter 2026 total revenue of $192.4 million, a 6 percent year-over-year increase, driven by EXPAREL net product sales of $147.8 million and ZILRETTA sales of $32.6 million. The company achieved GAAP net income of $4.7 million ($0.12 per share) and non-GAAP net income of $29.5 million ($0.73 diluted per share). Pacira closed the divestiture of its iovera° business to Zimmer Biomet on July 31, 2026, receiving $73.6 million in cash after adjustments, with up to $70 million in potential future milestones. The company updated its full-year 2026 total revenue guidance to $735–$760 million and reiterated EXPAREL sales guidance of $600–$620 million. Pacira BioSciences is a biopharmaceutical company focused on innovative non-opioid pain therapies.

On June 28, 2026, Pacira BioSciences entered into a Stock and Asset Purchase Agreement to divest its wholly owned subsidiary, Pacira CryoTech, and assets related to iovera handheld cryoanalgesia devices to Zimmer, Inc. (a subsidiary of Zimmer Biomet). The transaction includes an upfront payment of $70.0 million, with potential contingent revenue-based milestones of up to $70.0 million through December 31, 2031, for a total potential value of $140.0 million. The deal involves the transfer of 66 employees, representing approximately 8% of Pacira's workforce. The transaction is expected to close in the third quarter of 2026. Pacira BioSciences is a pharmaceutical company that develops and commercializes non-opioid pain management products.