Pacira picks up Flexion for $430 million plus CVR based on milestones
US company Pacira Biosciences (Nasdaq: PCRX) claims that its acquisition of Flexion Therapeutics (Nasdaq: FLXN) has further strengthened its leadership position in non-opioid pain management.
Shares in Flexion closed 59% higher on Monday following the announcement of the deal, while those in Pacira ended the day up by 6%.
"This combination with Pacira offers Flexion stakeholders excellent prospects for value creation"The acquisition is for $8.50 per share, or $430 million in total, and includes a contingent value right (CVR) worth up to $8 per share in cash, which is linked to sales targets for Zilretta (triamcinolone acetonide) and US approval of FX201 and FX301.
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