Prnewswire·2025-09-11 12:35Core Insights - Bausch Health has successfully completed the acquisition of DURECT Corporation, acquiring all outstanding shares for $1.75 per share, totaling approximately $63 million in cash [1][3] - The acquisition adds larsucosterol, an FDA Breakthrough Therapy for alcohol-associated hepatitis, to Bausch Health's hepatology pipeline, addressing a significant unmet medical need [2][3] Transaction Details - The acquisition includes potential milestone payments of up to $350 million, contingent on achieving specific sales targets before December 31, 2045 [1] - Approximately 19,984,767 shares of DURECT, representing about 62% of outstanding shares, were validly tendered in the offer [3] - Following the merger, DURECT will operate as a wholly owned subsidiary of Bausch Health, and its shares will be delisted from Nasdaq [4] Product and Market Context - Larsucosterol is positioned as a novel treatment for alcohol-associated hepatitis, a condition currently lacking approved therapies, with existing treatments often inadequate [2] - The urgency for effective treatments is underscored by a 30% mortality rate within 90 days of hospitalization for patients with severe alcohol-associated hepatitis [2] Strategic Alignment - The acquisition aligns with Bausch Health's strategic focus on research and development in areas of unmet medical need, particularly in liver diseases [3] - Bausch Health aims to enhance its portfolio with innovative therapies that address significant health challenges [6]