Request Consultationand reduce unnecessary opioid exposure. Viatrisâ proposed USD 1.65 billion acquisition of Pacira highlights the growing interest in established therapies for postsurgical pain and osteoarthritis.
The pharmaceutical industry is entering a new phase in pain management. For decades, opioids, have played an important role in treating moderate to severe pain, important role in treating moderte to severe pain, particularly after surgery and in certain chronic pain conditions. However, concerns about addiction and dependence, respiratory depression, and overdose have encouraged healthcare providers and pharmaceutical companies to explore alternative treatment approaches.
This shift is creating opportunities for non-opioid pain management, a field that includes local anesthetics, anti-inflammatory medicines, extended-release formulations, and emerging therapies designed to relieve pain without relying on opioids.
The growing commercial would bring Pacira’s established pain management products, EXPAREL and ZILRETTA, into Viatris’s portfolio. It also highlights a broader industry strategy in which pharmaceutical companies are seeking differentiated medicines that address significant clinical needs while creating opportunities for sustainable revenue growth.
But the opportunity extends beyond one acquisition.
As healthcare systems seek to reduce unnecessary opioid exposure while maintaining effective pain relief, non-opioid treatments could become increasingly important in surgical care, musculoskeletal medicines, and broader pain management strategies. The central question is whether innovation can deliver effective, accessible, and commercially sustainable alternatives for patients who need reliable pain relief.
Why is Big Pharma Moving Beyond Opioids?
Pain management remains a major healthcare challenge because pain can result from surgery, injuries, inflammatory conditions, arthritis, nerve damage, and chronic musculoskeletal disorders. Although opioids can provide substantial relief in certain situations, their potential for misuse and dependence has increased interest in alternative treatments.
For pharmaceutical companies, this transition represents both a medical priority and commercial opportunity.
Healthcare providers increasingly consider multimodal pain management, which combines different medicines and techniques to address pain through multiple pathways. Depending on the patient’s condition, treatment may include local anesthetics, nonsteroidal anti-inflammatory drugs, acetaminophen, regional anesthesia, and other appropriate interventions.
The objective is not to eliminate opioids in every clinical situation. Instead, it is to reduce unnecessary exposure while ensuring patients receive adequate pain relief.
This distinction matters because some patients with severe acute pain, cancer-related pain, or complex medical conditions may still require opioids. Non-opioid medicines also have limitations and can cause adverse effects depending on the drug and the patient’s health.
Consequently, pharmaceutical companies are investing in treatments that expand clinicians’ options rather than assuring one medicine can work for every patient.
The USD 1.65 Billion Viatris Pacira Acquisition
The acquisition of Pacira BioScience illustrates how pharmaceutical companies are positioning themselves in the non-opioid pain-management segment.
On October 8, 2026, Viatris announced a definitive agreement to acquire Pacira for USD 36.50per share in cash, representing an equity value of approximately USD1.65 billion. The offer represented a substantial premium to Pacira’s previous closing share price, and the company’s stock rose around 44% following the announcement.
The transaction would strengthen Viatris’s portfolio through two established medicines.
EXPAREL is a liposomal formulation of bupivacaine used for postsurgical pain management. Its formulation is designed to release the local anesthetic over an extended period, helping manage pain after certain surgical procedures.
ZILRETTA is an extended-release formulation of triamcinolone acetonide indicated for managing osteoarthritis pain in the knee. It provides another treatment option for patients experiencing pain associated with a common degenerative joint condition.
These products give Viatris access to established commercial medicines rather than requiring the company to depend entirely on experimental treatments that may take years to reach the market.
The deal demonstrates why established pain-management products can attract strategic interest. However, the announced purchase price does not guarantee future financial return. Commercial performance, competition, reimbursement, and success integration will influence the eventual outcomes.
Why Established Pain Treatment Attracts Investment
Developing a new pharmaceutical product is expensive and uncertain. A candidate must progress through clinical trials, regulatory review, and commercialization before its financial potential becomes clear.
Acquiring a company with marketed medicine offers an alternative route to growth.
For Viatris, Pacira brings established products, commercial experience, and a portfolio focused on pain management. These assets provide a foundation for expanding the business without relying exclusively on future research outcomes.
According to Viatris announcements, Pacira brings established products, commercial experience, and a portfolio focused on pain management. These assets provide a foundation for expanding the business without relying exclusively on future research outcomes.
The opportunity also extends to international expansion. A pharmaceutical company with established distribution and regulatory capabilities may introduce products into additional markets, subject to local approvals, reimbursement, and commercial requirements.
Nevertheless, established medicines face competitive pressure from geriatric products, alternative therapies, and changing clinical preferences. Companies must continue demonstrating value to maintain demand for support investment.
Non-Opioid Pain Management Covers Multiple Treatment Categories
Non-opioid pain management is not limited to one class of medicines. It includes several approaches that target different mechanisms and clinical needs.
- Local anesthetics: Medicines such as bupivacaine block nerve signals in targeted areas. Longer-acting formulations may help extend pain relief following selected procedures.
- Nonsteroidal anti-inflammatory drugs: NSAIDs reduce inflammation and pain and are commonly used for certain acute pain conditions and arthritis. Their suitability depends on individual risks and contraindications.
- Acetaminophen: This medicine is widely used for mild to moderate pain and may be included in multimodal treatment plans, although effectiveness varies by condition.
- Corticosteroid injections: These treatments can help reduce inflammation in selected joint conditions. Their benefits, duration of relief, and potential adverse effects depend on the indication and formulations.
- Regional anesthesia: These techniques aim to interrupt pain signals in specific regions and can be useful in surgical and procedural care.
- Emerging therapies: Researchers are investigating new biological targets, drug delivery systems, and treatment approaches that could improve pain relief while limiting unwanted effects.
This diversity matters because pain is not a single biological process. Different conditions involve varying combinations of inflammation, tissue injury, nerve signaling, and central nervous system activity.
Future innovation is therefore likely to focus on matching treatments to specific clinical situations rather than developing a universal replacement for opioids.
Surgery Creates a Major Commercial Opportunity
Postsurgical pain is one of the most important areas for non-opioid innovation.
Many surgical procedures cause acute pain that can interfere with mobility, sleep, rehabilitation, and recovery. Effective pain control can help patients participate in rehabilitation and resume normal activities.
However, opioid exposure after surgery can create concerns about adverse effects and continued use in some patients. This has encouraged hospitals and clinicians to consider treatment plans that combine different pain-relief methods.
Longer-acting local anesthetics are relevant because their effects can extend beyond the immediate period following administration. When clinically appropriate, they can form part of a strategy to manage pain while limiting reliance on systemic opioids.
EXPAREL is positioned within this treatment landscape; its commercial relevance reflects interest in medicines designed for postsurgical pain, although suitability depends on the procedures, patient characteristics, and approved use.
For pharmaceutical companies, surgical care offers identifiable clinic needs and established healthcare channels. However, ambulatory surgery centers, surgeons, anesthesiologists, and pharmacy teams all influence treatment selection.
Nevertheless, adoption depends on clinical evidence, institutional protocols, product costs, reimbursement, and practical considerations. A medicine must demonstrate sufficient value compared with available alternatives to secure lasting use.
Chronic Pain and Osteoarthritis Expand the Opportunity
The commercial opportunity extends beyond surgery to chronic pain and musculoskeletal conditions.
Osteoarthritis is a particularly relevant area because it can cause persistent joint pain, stiffness, and reduced mobility. Treatment may involve exercise and physical mobility. Treatment may involve exercise, physical therapy, weight management where appropriate, medicines, injections, and surgery in selected cases.
ZILRETTA gives Viatris an established product in this category through the planned Pacria acquisition. Its extended-release formulation is designed for intra-articular administration in patients with knee osteoarthritis.
Chronic pain presents a different challenge from acute postsurgical pain. Treatment often requires long-term management, and the balance between symptom relief safety, convenience, and sustained effectiveness becomes especially important.
No single treatment works equally well for everyone. Some patients experience inadequate relief from existing medicines, while others cannot use particular drugs because of their health conditions or adverse effects.
This creates opportunities for therapies that offer meaningful improvements for defined patient groups.
At the same time, chronic pain is a competitive market. Generic medicines, established injections, non-pharmacological interventions, and surgical options all influence treatment decisions. Companies must demonstrate a clear clinical or practical advantage to differentiate their products.
How Regulation and Reimbursement Can Influence Growth
Innovation alone does not determine whether a pain medicine succeeds commercially. Healthcare financing and reimbursement policies also play an important role.
In the United States, the Non-Opioids Prevent Addiction in the Nation Act, commonly known as the NOPAIN Act, introduced separate Medicare reimbursement for qualifying non-opioid pain management drugs and devices in specified outpatient settings, with implementation beginning in 2025.
The policy aims to reduce reimbursement barriers that could otherwise discourage providers from using eligible non-opioid treatments. Its impact depends on the applicable eligibility requirements, care setting, payment rules, and products.
For manufacturers, reimbursement can influence whether hospitals and clinicians consider adopting a therapy. Products that fit existing care pathways and have a clear reimbursement route may face financial obstacles than alternatives that require providers to absorb additional costs.
However, reimbursement does not automatically establish clinical superiority or guarantee broad adoption. Evidence of Safety, efficacy, appropriate use, and economic value remains essential.
Companies must also navigate regulatory requirements for product labelling, manufacturing quality, post-market safety monitoring, and promotional claims.
The strongest long-term opportunities are therefore likely to involve medicines supported by credible clinical evidence and a practical route to patient access.
The Role of Research and Drug Development
Although acquisition of marketed products can accelerate commercial expansion, continued research remains important for the future of non-opioid pain management.
Existing treatments do not adequately address every pain condition, and some patients experience limited relief or adverse effects. Researchers are investigating new targets involved in pain signaling, inflammatory pathways, nerve function, and other biological processes.
Drug-delivering technology is another area of interest. Formulations that control how a medicine is released may help maintain therapeutic effects over time or deliver treatment to a particular location.
However, a promising mechanism or formulation does not guarantee a successful medicine. Clinical trials must establish whether a candidate provides meaningful benefits, whether those benefits outweigh the risks, and which patients are most likely to respond.
Pain research can be particularly challenging because pain is subjective and influenced by multiple biological, psychological, and social factors. Trials must use appropriate endpoints, patient-reported outcomes, and study design to evaluate treatment effects reliably.
For pharmaceutical companies, investment decisions must account for these scientific uncertainties alongside development costs, intellectual property protections, market size, and competition.
The Commercial Risks Behind the Opportunity
Despite strong interest, non-opioid pain management is not a risk-free investment opportunity.
- Clinical Differentiation: A new medicine must offer meaningful benefits over established treatments. A different formulation alone may not be enough to persuade clinicians or payers to change practice.
- Pricing Pressure: Generic medicines and established treatment options can limit the prices manufacturers can charge. Products must justify their costs through clinical or practical value.
- Reimbursement Barriers: Coverage policies and hospital budgets can influence product adoption, even when a treatment addresses a genuine medical need.
- Safety Considerations: Non opioid does not mean risk-free. NSAIDs, corticosteroids, local anesthetics, and other medicines have distinct risks that require appropriate prescribing and monitoring.
- Competition: Pharmaceutical companies and medical technology providers are developing different approaches to pain management. New entrants may challenge established products through improved convenience, effectiveness, or affordability.
- Acquisition Execution: Viatris must complete the Pacira transaction and realize the expected commercial benefits. The announced purchase price reflects expectations about future value rather than guaranteed return.
These challenges show that market growth will depend on clinical evidence and commercial execution, not industry interest alone.
What Could the Future Look Like?
The future of non-opioid pain management could follow several paths.
In an optimistic scenario, healthcare providers increasingly integrate opioid-sparing treatments into surgical and musculoskeletal care. Clinical evidence, appropriate reimbursement, and greater awareness support wider adoption of established medicines.
In a moderate scenario, adoption continues gradually. Providers combine opioid and non-opioid treatments into surgical and musculoskeletal care. Clinical evidence, appropriate reimbursement, and greater awareness support wider adoption of established medicines.
In a moderate scenario, adoption continues gradually. Providers combine opioids and non-opioid treatments according to individual patient needs, while manufacturers compete on evidence, pricing, and convenience.
In a more difficult scenario, reimbursement restrictions, limited clinical differentiation, or disappointing results constrain the commercial performance of newer therapies. Some investments may fail to generate expected returns even as the need for better pain treatment remains.
The strongest long-term opportunity will come from treatments that offer meaningful relief, acceptable safety, appropriate pricing, and practical access for patients.
For pharmaceutical companies, the goal is not simply to replace one category of medicine with another. It is to expand the number of reliable options available to healthcare professionals and patients.
Conclusion
Big Pharma’s growing interest in non-opioid pain management reflects a combination of medical needs, commercial opportunity, and changing approaches to pain treatment.
The proposed USD1.65 billion acquisition of Pacira BioSciences by Viatris illustrates the strategic importance of this field. By adding EXPAREL and ZILRETTA, Viatris aims to strengthen its innovation medicines portfolio and expand its position in postsurgical and osteoarthritis pain management.
The transaction also highlights why established therapies can attract substantial investment. They offer existing commercial foundations, recognized clinical applications, and opportunities for expansion through broader distribution and market access.
However, the future of non-opioid pain management will not be determined by acquisitions alone. It will depend on whether treatments provide meaningful relief, demonstrate acceptable safety, achieve appropriate reimbursement, and address the needs of different patient populations.
Opioids will continue to have a role in selected clinical situations, but reducing unnecessary exposure remains an important objective in pain care.
The pharmaceutical companies best positioned for long-term success will be those that combine scientific innovation with credible evidence, responsible commercialization, and improved patient access.
Ultimately, the opportunity is larger than any single medicine or acquisition. It is about developing a more flexible approach to pain management that gives clinicians more options and helps patients receive effective treatment tailored to their needs.
About the Authors
Aditi Shivarkar
Aditi, Vice President at Precedence Research, brings over 15 years of expertise at the intersection of technology, innovation, and strategic market intelligence. A visionary leader, she excels in transforming complex data into actionable insights that empower businesses to thrive in dynamic markets. Her leadership combines analytical precision with forward-thinking strategy, driving measurable growth, competitive advantage, and lasting impact across industries.
Aman Singh
Aman Singh with over 13 years of progressive expertise at the intersection of technology, innovation, and strategic market intelligence, Aman Singh stands as a leading authority in global research and consulting. Renowned for his ability to decode complex technological transformations, he provides forward-looking insights that drive strategic decision-making. At Precedence Research, Aman leads a global team of analysts, fostering a culture of research excellence, analytical precision, and visionary thinking.
Piyush Pawar
Piyush Pawar brings over a decade of experience as Senior Manager, Sales & Business Growth, acting as the essential liaison between clients and our research authors. He translates sophisticated insights into practical strategies, ensuring client objectives are met with precision. Piyush’s expertise in market dynamics, relationship management, and strategic execution enables organizations to leverage intelligence effectively, achieving operational excellence, innovation, and sustained growth.