Viatris to acquire Pacira Biosciences for $1.65 billion
Viatris announced a plan to buy Pacira Biosciences for $1.65 billion, driving Pacira shares up while Viatris shares fell.
65 billion, sending Pacira stock skyrocketing. The deal expands Viatris' portfolio with "two well-known, on-market therapies," Exparel and Zilretta, Leerink Partners analyst Daniel Clark said in a report. Exparel is a nonopioid, long-acting drug to treat postsurgical pain. Zilretta is an extended-release injection to treat osteoarthritis of the knee.
Both should be immediately accretive to revenue and earnings before interest, taxes, depreciation or amortization, or EBITDA, Clark said. "For VTRS, this is the type of deal that fits well within their capital deployment strategy of purchasing on-market, commercial assets," he said. " Meloxicam is an anti-inflammatory treatment to relieve pain associated with osteoarthritis. 03.
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