Bausch Health (BHC) said Thursday it completed its $63 million take-private acquisition of Durect (DRRX), adding the late-stage liver disease drug larsucosterol to its pipeline.
The company said the purchase was made through a tender offer of $1.75 a share in cash, with the deal also including potential milestone payments of up to $350 million tied to future net sales.
Bausch Health said about 62% of Durect shares were validly tendered before the offer expired Sept. 10, after which its merger subsidiary combined with Durect, making it a wholly owned unit.
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