08:39 AM EDT, 07/29/2025 (MT Newswires) -- Bausch Health ( BHC ) said Tuesday it has agreed to indirectly acquire Durect ( DRRX ) for $63 million in an all-cash transaction.

Under the deal, Bausch Health ( BHC ) will pay $1.75 per share upfront for all of Durect's ( DRRX ) outstanding shares, with the potential for two additional net sales milestone payments of up to $350 million.

The planned acquisition includes Durect's ( DRRX ) lead asset larsucosterol. Bausch Health ( BHC ) said it plans to support the development and potential commercialization of the asset.

The deal is set to close in Q3.