Dave Stack, Pacira BioSciences CEO

Flex­ion heads to the dis­count aisle for a $450M+ merg­er with Paci­ra

Once rid­ing high with its non-opi­oid drug for knee pain, Flex­ion was at the cen­ter of the M&A ru­mor mill for a 10-fig­ure buy­out. Years lat­er, that shine has worn off — and now Flex­ion will hand over the keys in a sig­nif­i­cant­ly small­er ac­qui­si­tion.

Paci­ra Bio­Sciences will ac­quire Flex­ion for $8.50 per share in a deal val­ued at $450 mil­lion, a steep dis­count for a biotech that once com­mand­ed at­ten­tion from the likes of drug gi­ant Sanofi, the com­pa­nies said Mon­day.

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