Bausch Health Completes $63 Mln Acquisition Of DURECT, Adds Breakthrough AH Therapy

(RTTNews) - Bausch Health Companies Inc. has successfully completed its tender offer to acquire DURECT Corporation (DRRX) for $1.75 per share in cash, totaling approximately $63 million upfront.

The deal also includes up to $350 million in potential milestone payments tied to future net sales before the earlier of 10 years from first U.S. commercial sale or December 31, 2045.

The acquisition brings larsucosterol, DURECT's lead asset with FDA Breakthrough Therapy Designation for alcohol-associated hepatitis (AH), into Bausch Health's hepatology pipeline.

Currently, no approved therapies exist for AH, which has a 30% mortality rate within 90 days of hospitalization. A registrational Phase 3 trial is being planned to evaluate larsucosterol's efficacy in treating severe AH.

CEO Thomas J. Appio said the acquisition strengthens Bausch Health's R&D focus and commitment to addressing unmet needs in liver disease. Following the tender offer and merger, DURECT became a wholly owned subsidiary of Bausch Health, and its shares were delisted from Nasdaq.

Wednesday DRRX last traded at $1.91 with no after-hours movement on the NasdaqCM.