Pacira BioSciences Announces Agreement to Divest its iovera° Business to Zimmer Biomet
Pacira BioSciences has agreed to divest its iovera° business to Zimmer Biomet for total potential consideration of up to $140 million, comprising a $70 million upfront payment and up to $70 million in revenue-based milestones through 2031. The transaction supports Pacira's 5x30 strategy to transition into a pure-play innovative biopharmaceutical company, with proceeds intended to strengthen the balance sheet and pay down debt.
Key figures
- Deal Value Usd
- 140000000
- Deal currency
- USD
- Upfront payment usd
- 70000000
- Potential milestone payments usd
- 70000000
AI analysis
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