Bausch Health to Acquire DURECT Corporation

Bausch Health Companies Inc. (BHC) and DURECT Corporation announced a definitive agreement for BHC to acquire DURECT, including its lead asset, Larsucosterol, an epigenetic modulator with FDA Breakthrough Therapy Designation. Larsucosterol has shown promising results in Phase 2 trials for treating alcoholic hepatitis (AH), a severe form of alcohol-associated liver disease with no currently approved treatments. The acquisition strengthens BHC's commitment to hepatology and addressing unmet medical needs in liver disease. The transaction involves a tender offer of $1.75 per share in cash, plus contingent value rights, with potential milestone payments up to $350 million. The deal is expected to close in the third quarter of 2025.