Pacira rises on deal to sell pain relief device business

Zimmer Biomet Holdings

30/06/2026 13:18

** Shares of Pacira BioSciences PCRX.O rise 3.8% to $26.05 premarket  
** The drugmaker to sell its iovera business to medical device maker Zimmer Biomet ZBH.N for up to $140 million, including $70 million upfront and up to $70 million in milestone payments through 2031
** Iovera is a drug-free device that uses cold therapy to temporarily block nerve pain, including pain tied to knee osteoarthritis and knee-replacement surgery
** PCRX says ZBH will get all rights to develop, manufacture and sell iovera
** The companies will also work together on a program for spasticity, or muscle stiffness and spasms 
** The deal is expected to close in Q3 2026, subject to customary conditions 
** As of last close, PCRX down 3.1% YTD 

 (Reporting by Kunal Das in Bengaluru)
 ((Kunal.Das2@thomsonreuters.com;))