Bausch Health Companies Inc. has announced its intention to acquire DURECT Corporation, furthering its commitment to developing innovative solutions for liver disease. Under the terms of the definitive agreement, Bausch Health will initiate a tender offer to purchase all outstanding shares of DURECT at $1.75 per share in an all-cash transaction, amounting to approximately $63 million upfront. The deal includes potential milestone payments of up to $350 million, contingent on achieving specific sales targets. This acquisition is expected to close in the third quarter of 2025, subject to customary closing conditions, and will see Bausch Health acquiring any untendered shares through a merger. The transaction notably includes DURECT's lead asset, Larsucosterol, an epigenetic modulator with FDA Breakthrough Therapy Designation, highlighting its potential as the first FDA-approved treatment for alcoholic hepatitis.
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