Viatris to Acquire Pacira in US$1.65bn Pain Management Deal

In the latest pharmaceutical industry deal, Viatris has announced plans to acquire Pacira BioSciences, a specialist in innovative non-opioid pain therapies. 

The deal, thought to be worth around US$1.65bn, adds Pacira’s two patented medicines, acute post-surgical pain therapy Exparel and osteoarthritis knee pain treatment Zilretta, to Viatris’ portfolio.

Pacira generated approximately US$746m in total revenue during the last twelve months ended 30 June 2026. 

Viatris CEO Scott Smith says the acquisition marks a further step in the company’s strategy to strengthen its innovative medicines portfolio and drive sustainable growth.

On LinkedIn, following the announcement, Scott writes that the deal “advances the strategy we laid out earlier this year – to drive our base business, fuel our innovative portfolio and modernise for sustainable growth.

“Pacira brings established medicines, a promising pipeline and important capabilities that complement our existing portfolio and strengthen our position in non-opioid pain management, an area of significant unmet need.

“Just as importantly, this is about where we go from here. We see an opportunity to build on these medicines and capabilities to support the continued growth of our innovative medicines portfolio.”

Viatris is a global healthcare company formed in 2020 following the merger of Mylan and Pfizer’s Upjohn division. Headquartered in Pittsburgh, Pennsylvania, it aims to expand access to medicines worldwide, offering a portfolio spanning generics, branded medicines and over-the-counter products across therapeutic areas, including cardiovascular disease, oncology and ophthalmology. 

Reducing opioid overreliance

Central to Viatris’ decision to acquire Pacira is the opportunity to strengthen its position in non-opioid pain management, as healthcare providers seek additional options for treating acute and chronic pain.

Alongside Pacira’s two marketed therapies Exparel and Zilretta, the company is developing candidates for additional pain management applications, potentially broadening the range of conditions that can be treated with non-opioid approaches.

The acquisition comes against the backdrop of the US opioid crisis, which has exposed the risks associated with opioid dependence and the importance of appropriate pain management strategies. 

Although opioid-involved overdose deaths have declined from recent peaks, they remain a significant public health concern, with the crisis still labelled a public health emergency. 

The US recorded an estimated 54,743 opioid-involved overdose deaths in 2024, down from 83,140 in 2023, according to data from the Centres for Disease Control and Prevention (CDC).

Frank Lee, CEO of Pacira, says developing non-opioid alternatives for pain management has been central to the company’s mission. 

On LinkedIn, he writes: “For more than two decades, our mission has been clear: to deliver innovative, non-opioid pain therapies to transform the lives of patients. Together, we have helped reshape the conversation around pain – raising awareness, expanding access and accelerating the adoption of opioid-sparing therapies.

“I’m incredibly proud of what our team has built: a leading commercial portfolio that has reached more than 20 million patients, meaningful progress against our 5x30 strategy, and an innovative pipeline with the potential to shape the future of patient care.”

Expanding product reach

Viatris also expects the acquisition to complement its own pipeline of non-opioid pain treatments, including a fast-acting formulation of meloxicam for moderate-to-severe acute pain.

The US Food and Drug Administration (FDA) accepted Viatris’ new drug application for the candidate in May 2026, with a regulatory decision expected by the end of December.

If approved, the treatment would further strengthen the company’s position in acute pain management, alongside Pacira’s established therapies for post-surgical pain and osteoarthritis-related knee pain.

Beyond its existing US market, Viatris plans to use its international infrastructure and intellectual property expertise to extend the reach of Exparel and Zilretta into selected markets, while maximising the long-term value of the acquired portfolio.

Financially, the deal is expected to be immediately accretive to Viatris’ financial guidance metrics. The company intends to fund the transaction primarily through excess cash, supplemented by short-term borrowing, which it expects to have a minimal impact on its gross leverage ratio.

Subject to customary closing conditions, the acquisition is expected to complete by the end of 2026, marking a further step in Viatris’ strategy to expand its innovative medicines business and establish a stronger position in non-opioid pain management.

Viatris – key partners

Gilead Sciences

CEO: Daniel O’Day | HQ: Foster City, California

Viatris and Gilead have collaborated to expand global access to remdesivir, an antiviral developed for COVID-19. Their partnership reflects a shared focus on making treatments available to patients across international markets, particularly during a public health emergency when equitable access to medicines was a major challenge. 

TB Alliance

President & CEO: Dr Mel Spigelman | HQ: New York

Viatris has partnered with TB Alliance to increase access to pretomanid, a medicine used in combination regimens to treat certain forms of drug-resistant tuberculosis. The collaboration brings together pharmaceutical manufacturing and development capabilities with a global health organisation focused on developing and delivering more effective, affordable tuberculosis treatments. 

Bill and Melinda Gates Foundation

CEO: Mark Suzman | HQ: Seattle, Washington

The Gates Foundation has worked with Viatris to expand access to affordable HIV treatment in low- and lower-middle-income countries. The partnership supports efforts to address barriers to essential medicines in underserved communities, aligning with Viatris’ wider mission to improve global access to quality treatments and strengthen healthcare provision in resource-limited settings.