Business
DURECT Corporation Reports Second Quarter 2025 Financial Results and Provides Update on Proposed Acquisition by Bausch Health
DURECT Corporation (Nasdaq: DRRX) today announced financial results for the second quarter ended June 30, 2025 and provided an update on the previously announced acquisition of DURECT by Bausch Health Companies Inc. (Bausch Health).
About this update from Bausch Health Companies Inc.
[{"type":"text","content":"Bausch Health will pay $1.75 per share plus up to $350 million in aggregate sales milestones","length":92,"tagName":"p","attribs":{}},{"type":"text","content":"Transaction expected to close in the third quarter of 2025","length":58,"tagName":"p","attribs":{}},{"type":"text","content":"CUPERTINO, Calif., Aug. 12, 2025 /PRNewswire/ -- DURECT Corporation (Nasdaq: DRRX) today announced financial results for the second quarter ended June 30, 2025 and provided an update on the previously announced acquisition of DURECT by Bausch Health Companies Inc. (Bausch Health).","length":281,"tagName":"p"},{"type":"image","alt":"DURECT Corporation","displaySize":"","headline":null,"caption":"DURECT Corporation","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":300,"url":"https://media.zenfs.com/en/prnewswire.com/90552ac61b48e4f656b92a6415d1d8c1"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/SRlW8P25mL1_8l6s1j_QGQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTUyOTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/90552ac61b48e4f656b92a6415d1d8c1","width":400,"height":300}},"href":"https://mma.prnewswire.com/media/81466/DURECT_LOGO_2023.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Recent business highlights and updates:","length":39,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"In July 2025, DURECT announced that it entered into an Agreement and Plan of Merger with Bausch Health Americas, Inc. (Bausch Health Americas), a wholly owned subsidiary of Bausch Health and BHC Lyon Merger Sub, Inc. (Merger Sub), with DURECT surviving as a direct or indirect wholly owned subsidiary of Bausch Health (Merger Agreement).Under the terms of the Merger Agreement, Bausch Health will pay $1.75 per share of DURECT common stock in an all-cash transaction for an upfront consideration of approximately $63 million at closing, with the potential for two additional net sales milestone payments of up to $350 million in the aggregate (subject to certain adjustments) if the milestone is achieved before the earlier of the 10 year anniversary of the first commercial sale of larsucosterol in the United States and December 31, 2045. The Merger is expected to be completed in the third quarter of 2025. Pursuant to the terms and conditions of the Merger Agreement, Merger Sub commenced on Augu...