DURECT Corporation Invites You to Join its Fourth Quarter and Year End 2001 Conference Call on the Web

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CUPERTINO, Calif., Jan 14, 2002 (BUSINESS WIRE) — In conjunction with DURECT
Corporation’s (NASDAQ:DRRX) fourth quarter and year end 2001 financial results
press release, you are invited to listen to its conference call that will be
broadcast live over the Internet on Wednesday, January 30, 2002 at 4:30 p.m. EDT
with Jim Brown, President and Chief Executive Officer, Tom Schreck, Chief
Financial Officer, Felix Theeuwes, Chairman and Chief Scientific Officer and
Schond Greenway, Senior Director, Investor Relations and Strategic Planning.

What: DURECT Corporation’s fourth quarter and year end 2001 earnings conference

    When: Wednesday, January 30, 2002, 4:30 p.m. EDT
    Where: www.www.durect.com and click "Investor Relations"

How: Live over the Internet — Simply log on to the Web at the address listed

Contact: Suzanne Watson, DURECT Corporation, 408/864-7489,

If you are unable to participate during the live webcast, the call will be
archived at: http://www.www.durect.com/wt/durect/page_name/audio

DURECT Corporation is pioneering the development and commercialization of
pharmaceutical systems for the treatment of chronic debilitating diseases and
enabling biotechnology-based pharmaceutical products. DURECT’s goal is 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 focuses on the treatment of chronic
diseases including pain, CNS disorders, cardiovascular disease and cancer.
DURECT holds an exclusive license from ALZA Corporation to develop and
commercialize products in selected fields based on the DUROS(R) implant
technology. Chronogesic(TM), a 3-month continuous infusion subcutaneous implant
for the treatment of chronic pain, is the first product in this series and
completed phase II testing in June 2001. DURECT also owns three proprietary
erodible implant platform technologies, including SABER(TM) (a patented and
versatile depot injectable useful for protein delivery), MICRODUR(TM)
(microspheres injectable) and DURIN(TM) (drug-loaded implants). DURECT also
commercializes ALZET(R) Osmotic Pumps for research animal use, IntraEAR(R)
catheters which have been used by physicians to treat inner ear disorders and
PLGA based biodegradable polymers.

Founded in 1998, DURECT is headquartered in Cupertino, Calif. 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.

NOTE: Chronogesic(TM), SABER(TM), IntraEAR(R), MICRODUR(TM) and DURIN(TM) are
trademarks of DURECT Corporation. DUROS(R) is a trademark of ALZA Corporation.

The statements in this press release regarding DURECT’s products in development,
expected product benefits, product development plans or potential product
markets 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 research, develop, manufacture and
commercialize its products, obtain product and manufacturing approvals from
regulatory agencies and manage its growth and expenses, as well as marketplace
acceptance of DURECT’s products. Further information regarding these and other
risks is included in DURECT’s Current Report on Form 8-K filed with the SEC on
January 11, 2001, Quarterly Report on Form 10-Q for the quarter ended September
30, 2001 filed with the SEC on November 13, 2001, and Annual Report on Form 10-K
for the fiscal year ended December 31, 2000 filed with the SEC on March 30,
2001, under the heading “Factors that may affect future results.”
Chronogesic(TM) is under development by DURECT and has not been submitted or
approved for commercialization by the US Food and Drug Administration or other
health authorities.

DURECT Corporation, Cupertino

Suzanne Watson, 408/864-7489


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