Pacira BioSciences, Inc.

Schneider Electric SE agreed to acquire U.S.-based engineering software developer PTC Inc. for $22.6 billion, or €20.1 billion, paying $205 per share in an all-cash deal. The transaction was among a string of major deals reported across sectors this week. Viatris said it will acquire all outstanding shares of Pacira BioSciences for $36.50 per share in cash, an aggregate equity value of $1.65 billion, while CD&R and McKesson agreed to acquire Option Care Health for $32.05 per share, valuing it at approximately $5.8 billion including debt, sending its shares up 34% in early trading Tuesday. Energy Transfer agreed to acquire Vaquero Midstream in a $2.625 billion deal consisting of $1.95 billion in cash and about 33.3 million newly issued Energy Transfer common units, and Cenovus Energy agreed to acquire Athabasca Oil in a cash-and-stock deal valued at about C$5.7 billion, a 14% premium to Athabasca's 20-day volume-weighted average trading price. Canadian utilities Emera and Canadian Utilities agreed to an all-stock merger worth C$14.3 billion, or US$10 billion, creating a combined company with a C$72 billion enterprise value and a regulated rate base of C$45 billion serving roughly 6 million customers. Separately, TKO LLC proposed to acquire Service Properties Trust's entire hospitality portfolio for $2.0 billion, and CCC Intelligent Solutions soared 13% in after-hours trading on a report that GTCR and Elliott Investment Management are in advanced discussions to purchase the car-insurance software firm.

Viatris has agreed to buy Pacira BioSciences in a US$1.65 billion all-cash deal, adding two patent-protected non-opioid pain medicines to its portfolio. The transaction brings higher margin pain drugs and fresh expectations to Viatris, which last closed at $17.44. Viatris shares have logged a 5.0% 1 month share price return, a 7.2% 3 month share price return, a 40.0% year to date share price return, and a 1 year total shareholder return of 80.8%. The most widely followed narrative assigns Viatris a fair value of $19.40, framing the Pacira deal inside a broader rerating story built on pipeline progress and base business steadiness. Viatris still faces pressure points, including its reliance on mature, off-patent products and ongoing integration or remediation work that could keep costs unpredictable.

Chipotle shares rose more than 6% after the Financial Times reported that Starbucks has worked with advisors in recent months on a takeover proposal for the burrito chain. The status of the takeover plans could not be immediately learned, and people familiar with the matter said a mega deal of this size might never get off the ground. The Wall Street Journal later reported a statement from Starbucks saying it is laser focused on existing strategy, without saying whether that strategy involves M&A. Starbucks shares fell 4/10 of a percent on the news. In a separate deal, Viatris agreed to buy Pacira Biosciences for 3650 a share, an equity value of about 1.65 billion and a 45% premium to the Wednesday close, sending Pacira up 44% intraday, the most on record.

Broadcom is in early discussions to arrange more than $50B in debt financing to help OpenAI fund purchases of custom artificial intelligence chips the two companies are jointly developing, according to Bloomberg and The Wall Street Journal. Apollo Global Management and Blackstone are among the potential lenders approached by Broadcom, though talks remain preliminary and no deal is expected before year-end, and the proposed package would mirror Broadcom's earlier $60B debt facility arranged for Anthropic. Amazon confirmed Wednesday that it eliminated fewer than 1,000 white-collar corporate jobs, primarily within its Stores division, as first reported by Business Insider, following a broader round of 30,000 job cuts initiated over the past year. Goldman Sachs upgraded Palantir to Buy from Neutral, with analyst Gabriela Borges setting a 12-month price target of $230, representing 18% upside. Viatris agreed to acquire Pacira BioSciences for $36.50 per share in cash, an aggregate equity value of $1.65B, in a deal expected to close by the end of 2026, after which Pacira will become a wholly owned subsidiary of Viatris and its common stock will no longer be listed on the Nasdaq Global Select Market.

Pacira BioSciences signed an exclusive agreement with Molteni Farmaceutici to distribute and commercialize EXPAREL in the European Union and U.K. Under the deal, Pacira will receive an undisclosed upfront payment, a supply price, and royalties on future commercial sales in the licensed territories. Pacira will continue to manufacture EXPAREL, while Molteni will oversee regulatory, market access, and commercialization activities. Molteni plans to launch EXPAREL sequentially in Italy, Germany, Austria, and Poland, with plans to seek approval in Switzerland. The first commercial sale is expected in 2027.

Pacira BioSciences reported second quarter 2026 total revenues of $192.4 million, a 6% increase over the prior year, and updated full-year guidance to $735 million to $760 million following the divestiture of iovera to Zimmer Biomet. EXPAREL net sales rose 3% to $147.8 million, ZILRETTA sales grew 4% to $32.6 million, and iovera sales increased 21% to $6.8 million. The company highlighted UnitedHealthcare's decision to provide separate reimbursement for EXPAREL outside the surgical bundle, bringing total covered lives to over 150 million, and noted that ZILRETTA was placed on UnitedHealthcare's preferred drug list. Pacira expects top-line data from three registrational studies later this year: the iovera spasticity study, the ZILRETTA shoulder osteoarthritis study, and Part A of the Phase 2 PCRX-201 study.

Pacira BioSciences reported a second-quarter profit of $4.65 million, or $0.12 per share, swinging from a loss of $4.85 million, or $0.11 per share, a year earlier. Total revenue rose 6% to $192.40 million, driven by higher product sales and $1.91 million in royalty revenue. EXPAREL sales increased 3.4% to $147.82 million, while ZILRETTA sales edged up to $32.65 million. The company completed the divestiture of its Iovera business to Zimmer Biomet for $73.6 million in cash at closing, with potential milestone payments of up to $70 million. Following the divestiture, Pacira revised its full-year 2026 total revenue guidance to a range of $735 million to $760 million, down from the prior range of $745 million to $770 million, and projects EXPAREL net product sales of $600 million to $620 million.

UnitedHealthcare, the largest U.S. health insurer with about 40 million members, will separately reimburse for Pacira BioSciences' non-opioid pain medicine Exparel when used in outpatient settings such as hospital outpatient departments and ambulatory surgery centers. This decision is expected to improve patient access and support non-opioid pain management after surgery. UnitedHealthcare joins other major national insurers including Aetna, Cigna, TRICARE and Humana, as well as many regional health plans, that already provide separate reimbursement for Exparel rather than bundling its cost into the overall surgical payment. Pacira noted that expanded Medicare coverage under the NOPAIN Act and growing commercial insurer support have created a more favorable reimbursement environment, allowing hospitals and physicians to use the therapy based on medical need instead of cost considerations. Exparel, Pacira's flagship product, generated net product sales of $143.3 million out of total first-quarter 2026 revenues of $177.4 million.

Zimmer Biomet has agreed to acquire Pacira BioSciences' FDA-cleared iovera pain relief device in a deal valued at up to $140 million, including $70 million upfront and future milestone payments. The agreement also includes a collaboration to advance the iovera spasticity program, extending Zimmer Biomet's reach into non-opioid pain management and neuromuscular conditions. The transaction is expected to close in the third quarter of 2026, subject to customary conditions. Zimmer Biomet's recently renewed $2.75 billion in revolving credit facilities provides liquidity to fund the acquisition alongside other corporate needs. The move reflects continued portfolio building around the full episode of orthopedic care, complementing its existing joint replacement and extremities products.