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.
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Viatris to buy Pacira BioSciences for $1.65 billion
Viatris said it will acquire Pacira BioSciences for $1.65 billion in cash, or $36.50 a share, a roughly 45% premium to Pacira's Wednesday close. The deal is expected to close by year-end and was followed by a 44% jump in Pacira shares and a 2.2% decline in Viatris.
Viatris Bets Big on Non-Opioid Painkillers With Pacira Buyout
Viatris Inc. (NASDAQ: VTRS ) announced Thursday that it agreed to acquire Pacira BioSciences Inc. (NASDAQ: PCRX ) for $1.65 billion, strengthening its position in non-opioid pain management. Under the agreement, Viatris will pay $36.50 per share in cash for all outstanding Pacira shares. Viatris reported $886.5 million
Viatris to buy Pacira for $1.65 billion in cash
Viatris said it will acquire Pacira BioSciences for $1.65 billion, or $36.50 a share, in cash. The company expects the deal to close by year-end and to have a minimal impact on gross leverage.
Crude Oil Gains 5%; PepsiCo Posts Upbeat Q3 Earnings
U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling over 150 points on Thursday. The Dow traded down 0.39% to 50,978.59 while the NASDAQ declined 0.61% to 27,371.84. The S&P 500 also fell, dropping, 0.37% to 7,772.65. Leading and Lagging Sectors Energy shares jumped by 3% on Thursday. In