DURECT Corporation Invites You to View Its Salomon Smith Barney Specialty Pharmaceuticals Conference Investor Presentation

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CUPERTINO, Calif., March 1 /PRNewswire/ —
DURECT Corporation (Nasdaq: DRRX) announced today that it will present a
company overview and discuss the Phase II trial in progress for its lead
product, DUROS sufentanil for the treatment of chronic pain, at the 1st Annual
Salomon Smith Barney Specialty Pharmaceuticals Conference to be held March 9,
2001 at 4:00 P.M. in New York, NY at the Grand Hyatt Hotel. The presentation
will be webcast live from the Salomon Smith Barney Conference. The webcast
will be available on DURECT’s website at http://www.www.durect.com under the
Calendar of Event section of “Investor Relations.” The presentation will also
be available for replay on DURECT’s website for a period of one week after the

DURECT Corporation is pioneering the development and commercialization of
pharmaceutical systems to deliver the right drug to the right site in the
right amount at the right time. DURECT’s pharmaceutical systems combine
technology innovations from the medical device and drug delivery industries
with proprietary pharmaceutical and biotechnology drug formulations. These
capabilities can enable new drug therapies or optimize existing therapies
based on a broad range of compounds, including small molecule pharmaceuticals
as well as biotechnology molecules such as proteins, peptides and genes.
DURECT’s initial portfolio of products combine the DUROS technology, a proven
and patented drug delivery platform licensed for specified fields of use from
ALZA Corporation, with drugs for which medical data on efficacy and safety are

DURECT’s lead product in development, DUROS sufentanil, is for the
treatment of chronic pain. DUROS sufentanil is designed to deliver sufentanil
on a continuous basis for 3 months for the treatment of chronic pain. Annual
sales of opioids for the treatment of chronic pain are in excess of
$1 billion. DURECT’s second product, DUROS hydromorphone, is a DUROS-based
pharmaceutical system for the delivery of hydromorphone to the spine for the
treatment of end-stage cancer pain. DURECT is also selling FDA cleared
catheters for the delivery of fluids to the inner ear. DURECT also
manufactures, sells and distributes the ALZET(R) osmotic pump product for use
in laboratory research.

Founded in 1998, the Company is headquartered in Cupertino, CA. The
Company’s World Wide Web site can be accessed at http://www.www.durect.com. To
join DURECT’s email alert service, please register by selecting “Email Alerts”
on the main Investor Relations web page at http://www.www.durect.com.

DUROS is a registered trademark of ALZA Corporation.

The statements in this press release regarding DURECT’s products in
development, product development plans, clinical trials, and expected product
benefits are forward-looking statements involving risks and uncertainties that
could cause actual results to differ materially from those in such
forward-looking statements. Potential risks and uncertainties include, but
are not limited to, DURECT’s ability to develop, manufacture and commercialize
its products, complete successful clinical trials, obtain product approvals
from regulatory agencies, build a manufacturing facility, and DURECT’s ability
to manage its growth and costs, as well as marketplace acceptance of DURECT’s
products. Further information regarding these and other risks is included in
the company’s S-1 registration statement, filed with the SEC on September 22,
2000 and its 424(b) prospectus filed with the SEC on September 28, 2000 and
its Quarterly Report on Form 10Q for the quarter ended September 30, 2000
filed with the SEC on November 13, 2000.

For further information please contact:

DURECT Corporation

Schond L. Greenway

Director, Investor Relations

Phone: 408-777-1417


CONTACT: Schond L. Greenway, Director, Investor Relations of DURECT
Corporation, 408-777-1417, schond.greenway@durect.com/

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