{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-167131","form_type":"8-K","ticker":"BHC","cik":"0000885590","company_name":"Bausch Health Companies Inc.","filed_at":"2025-07-29T23:59:59+00:00","discovered_at":"2026-05-14T18:02:46.585610+00:00","generated_at":"2026-05-17T23:55:59.010910+00:00","sec_items":["8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Bausch Health to acquire DURECT for $1.75/share ($63M upfront) plus up to $350M milestones","bullets":["Bausch Health will pay $1.75/share cash upfront, valuing DURECT at ~$63M, with up to $350M in additional net sales milestone payments.","The upfront price represents a ~191% premium to DURECT's 30-day VWAP and ~217% premium to the July 28 closing price.","DURECT's lead asset larsucosterol has FDA Breakthrough Therapy Designation for alcoholic hepatitis, with planned Phase 3 trial.","Transaction expected to close in Q3 2025, subject to majority tender and customary conditions.","Acquisition complements Bausch's hepatology pipeline alongside ongoing rifaximin SSD Phase 3 program."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-167131","json":"https://secwatch.observer/filing/0001193125-25-167131.json","markdown":"https://secwatch.observer/filing/0001193125-25-167131.md","text":"https://secwatch.observer/filing/0001193125-25-167131.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/885590/000119312525167131/0001193125-25-167131-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/885590/000119312525167131/d943437d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T23:55:59.010910+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}