Johnson & Johnson to Buy Scios for $2.4 Billion
By Biotechdaily staff writers
Posted on 26 Feb 2003
In a transaction that will broaden its drug pipeline and provide promising research projects, Johnson & Johnson (New Brunswick, NJ, USA) has agreed to acquire Scios, Inc. (Sunnyvale, CA, USA) a biopharmaceutical company, for about US$2.4 billion. Johnson & Johnson is a manufacturer of a wide range of health-care products.Posted on 26 Feb 2003
Scios' Natrecor is the first new agent approved for congestive heart failure (CHF) in more than a decade. Natrecor is a recombinant form of a B-type natriuretic peptide secreted by the heart as part of the body's response to CHF and has several significant advantages over existing therapies. The principal focus of Scios' research program is small molecule inhibitors. The program includes several potential new treatments for pain and inflammation, including an advanced p-38 kinase inhibitor.
"Scios strengthens our growing cardiovascular franchise and broadens our pipeline with several potential new chemical entities,” said Christine Poon, worldwide chairman, Pharmaceuticals Group, Johnson & Johnson. "Natrecor is a truly unique product for a largely underserved and growing market. Scios also brings an advanced research program on kinase inhibitors, which is an exciting new area of research.”
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