Pacira Divests iovera® to Zimmer Biomet for up to $140M
Pacira BioSciences, Inc. announced the divestiture of its iovera® system to Zimmer Biomet Holdings, Inc. for up to $140 million. This includes an upfront payment of $70 million and up to an additional $70 million in potential future revenue-based milestone payments through 2031. The company plans to use the upfront net proceeds to strengthen its balance sheet and pay down its senior secured revolving credit facility, aligning with its 5x30 strategy to transition into an innovative biopharmaceutical company.
Key Highlights
- Pacira divested its iovera® system to Zimmer Biomet Holdings, Inc.
- Pacira will receive up to $140 million from the transaction.
- An upfront payment of $70 million will be received.
- Up to an additional $70 million in potential future revenue-based milestone payments through December 31, 2031.
- Pacira will collaborate on advancing the spasticity program with potential incremental compensation.
- Upfront net proceeds will be used to strengthen the balance sheet and pay down the senior secured revolving credit facility.
- The transaction is expected to close in the third quarter of 2026.
Price Impact
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