Pacira BioSciences is to acquire Flexion Therapeutics in a deal that further expands the New Jersey company’s position in non-opioid pain management.
Flexion is a commercial-stage biopharmaceutical company focused on the development and commercialisation of novel, local non-opioid therapies for the treatment of patients with musculoskeletal conditions, including osteoarthritis (OA), postsurgical pain and low back pain.
Approved in 2017, Flexion’s lead product, Zilretta (triamcinolone acetonide extended-release injectable suspension) is the first and only FDA-approved treatment for OA knee pain utilising extended-release microsphere technology.
“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,” said Dave Stack, Chairman and CEO of Pacira.
“We believe the Flexion portfolio further solidifies Pacira as a leader in opioid-sparing pain management as we continue to redefine the role of opioids as a last resort rescue medication. Importantly, this acquisition creates diversification and growth to our topline while providing what we would expect to be meaningful synergies that should result in substantial near- and long-term accretion to our cash flows and earnings.”