Viatris confirmed Monday the completion of its $1.65bn acquisition of Pacira BioSciences, the Tampa-based maker of the non-opioid anaesthetic Exparel, cementing its push into post-surgical pain treatment. The deal was announced earlier this month and cleared regulatory review.

Pacira's flagship product, Exparel, is a long-acting local anaesthetic injected during surgery to reduce the need for opioid painkillers. The company also markets Zilretta for knee osteoarthritis pain and Iovera, a nerve-blocking device.

Viatris executives said the portfolio would diversify revenue beyond the company's maturing generics and biosimilars business. Chief executive Scott Smith described the acquisition as a strategic shift toward branded specialty medicines. Viatris said Pacira's products would be integrated into its existing commercial infrastructure, with the combined pain franchise expected to generate more than $700m in annual sales.

The transaction lands as US regulators and health systems intensify efforts to curb opioid prescribing. The FDA has prioritised approval pathways for non-opioid analgesics, and hospital formularies increasingly favour alternatives for surgical recovery. Analysts at Jefferies said the deal positions Viatris to capture demand driven by that policy shift.

Shareholders had approved the cash transaction, which Viatris funded through existing resources and debt. The company reaffirmed its full-year financial guidance alongside the closing announcement.

"This acquisition accelerates our transformation into a diversified healthcare company with a differentiated, non-opioid pain portfolio," Smith said.