Viatris to buy Pacira for $36.50/share cash in $1.65B deal; expected close by end of 2026

Viatris Inc

Viatris will launch a tender offer at $36.50 per Pacira share in cash, then merge Pacira into a wholly owned Viatris subsidiary under Section 251(h) with no Pacira stockholder vote required.
Pacira brings in-market U.S. products EXPAREL and ZILRETTA; Pacira generated about $746M revenue and $177M adjusted EBITDA in the twelve months ended June 30, 2026.
Viatris expects to fund the deal primarily with excess cash and the remainder with short-term borrowings, with minimal impact on gross leverage and immediate accretion to guidance metrics.
Pacira would owe Viatris a $62M termination fee under specified circumstances; outside date is April 8, 2027, auto-extending to July 8, 2027 for antitrust approvals.
Conditions include tender of a majority of Pacira shares and HSR clearance; Pacira's board unanimously recommends tendering. Viatris reports Q3 2026 results Nov. 5, 2026.

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