Pharma BD Deal Intelligence

Bausch Health / DURECT Corporation

2025 · Acquisition/Merger · $413M · Complete

Bausch Health Companies entered a definitive agreement to acquire DURECT Corporation for $1.75 per share in cash, approximately $63 million upfront at closing, plus up to $350 million in aggregate net-sales milestone payments payable before the earlier of the 10-year anniversary of first US commercial sale or 2045-12-31. The deal adds larsucosterol, an epigenetic modulator with FDA Breakthrough Therapy Designation for alcohol-associated hepatitis, following positive Phase 2 data. A registrational Phase 3 program in severe alcohol-associated hepatitis was being planned. The acquisition closed 2025-09-11.

Key facts

• Announced Jul 29, 2025
• Deal value $413M
• Deal type Acquisition/Merger
• Therapeutic area Hepatology, Liver Disease
• Indications Alcohol-associated hepatitis
• Key assets larsucosterol (DUR-928)
• Mechanism Endogenous sulfated oxysterol; epigenetic modulator (DNMT1 inhibition)

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