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.