Carl Byrnes

François Brisebois

Wing Yip

Ed Arce

- Bausch Health Companies Inc. completed its acquisition of DURECT Corporation on **September 11, 2025**.  **[1082038_20250911SF71260:0]** 
- Under the terms, Bausch Health acquired all outstanding shares of DURECT for **$1.75 per share in cash**, representing an upfront payment of approximately **$63 million**.  **[1082038_20250911SF71260:0]**  The agreement also includes potential net sales milestone payments of up to **$350 million**.  **[1082038_20250911SF71260:0]** 
- The acquisition adds **larsucosterol**, DURECT's lead asset, to Bausch Health's hepatology pipeline.  **[1082038_20250911SF71260:0]**  Larsucosterol has an **FDA Breakthrough Therapy Designation** for alcohol-associated hepatitis, and a registrational **Phase 3 program** is being planned.  **[1082038_20250911SF71260:0]** 
- Following the completion of the tender offer and merger, DURECT Corporation became a **wholly owned subsidiary** of Bausch Health, and its common stock ceased trading on Nasdaq on **September 11, 2025**.  **[1082038_20250911SF71260:0]**

DURECT (DRRX)