Pacira BioSciences announces acquisition of Flexion Therapeutics
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Pacira BioSciences Inc. has announced the acquisition of Flexion Therapeutics Inc. in a commitment to non-opioid pain management and regenerative health solutions for patients with musculoskeletal conditions, according to a press release.
Pacira has agreed to acquire Flexion and its portfolio of non-opioid solutions, including knee osteoarthritis (OA) product Zilretta, for $8.50 per share in cash and one non-tradeable contingent value right worth up to $8 per share in cash, according to the release.
“This acquisition is a major milestone in our strategy to build a robust offering of novel, non-opioid treatments to improve patient care along the neural pain pathway while simultaneously providing us with a complementary commercial asset in Zilretta for the treatment of OA knee pain,” Dave Stack, chairman and CEO of Pacira BioSciences, said in the release.
Michael Clayman, MD, CEO and co-founder of Flexion Therapeutics, said Pacira shares Flexion’s “commitment to advancing non-opioid pain control,” and that the company will bring continued clinical and commercial success to Zilretta, FX201 and FX301.
“This combination with Pacira offers Flexion stakeholders excellent prospects for value creation, particularly as the contingent value rights provide the opportunity to continue to benefit from the ongoing success of Flexion’s products and programs,” Clayman said in the release.
The acquisition is expected to be completed in the fourth quarter of 2021, according to the release.
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