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Pacira Stock Jumps 44% After Viatris Buyout Deal

Viatris2 min read6 sources

Why did Pacira stock jump 44%?

Pacira BioSciences (PCRX) stock rose 44% on Thursday to $36.39 after Viatris (VTRS) agreed to buy it for $36.50 a share in cash, a $1.65B takeover deal.

Key numbers

Offer price per share$36.50all cash
Deal value (equity)$1.65B44.8% premium
PCRX close on Oct 8$36.39+$11.19 (+44%)
Pacira revenue, 12 months to June 30$746Madj. EBITDA about $177M
Exparel + Zilretta 2025 sales$692M+4% vs 2024

What happened

Pacira BioSciences (PCRX) stock rose 44% on Thursday to $36.39 after Viatris (VTRS) agreed to buy it for $36.50 a share in cash, a $1.65B takeover deal. The price is about 45% higher than where Pacira closed the day before. Pacira sells Exparel, a long-lasting non-opioid numbing shot used after surgery, and Zilretta, a knee-arthritis injection, which together brought in $692 million in 2025. Viatris plans to pay mostly with cash it already has and expects to finish the deal by the end of 2026.

Why it matters

Pacira BioSciences shareholders are being offered a fixed cash price, which is why the stock jumped to nearly match it. For Viatris, the deal adds painkillers that are not opioids, a market that doctors and hospitals are trying to grow. Exparel is expected to face cheaper generic copies starting around 2030, so how long its sales hold up is a key question.

Who this affects

Marketbullish
Low impact
Shows buyers still pay big premiums for established drugmakers.
Companybullish
High impact
Pacira holders get $36.50 in cash, and shares trade near it.
Competitorsmixed
Low impact
Non-opioid pain rivals now face a larger, better-funded Viatris.
Industrybullish
Medium impact
Non-opioid pain drugs remain an acquisition target for big drugmakers.

Pacira vs Viatris, Collegium, Heron Therapeutics

Pacira BioSciencesPCRX$1.45B+44.4%11.4x+5.7%
ViatrisVTRS$20.0B-0.3%6.8x+4.4%
Collegium PharmaceuticalCOLL$720M+0.8%3.2x+14.3%
Heron TherapeuticsHRTX$68M-6.8%—+1.0%

As of 2026-10-08

How we got here

  1. Viatris announces $36.50-a-share cash deal for Pacira; Pacira closes at $36.39

  2. Jefferies cuts Pacira to Hold from Buy, with a $36 price target

  3. Deal expected to close by the end of 2026

  4. Generic competition for Exparel expected to begin in early 2030

What to watch

  • Whether most Pacira shareholders tender shares and regulators clear the dealQ4 2026
  • Renewal of Pacira's NO-PAIN contract, which expires in December 20272027-12
  • How Viatris plans to extend Exparel sales once generics arrive2030

Educational content only. Not investment advice.

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