J&J buys Scios

Johnson & Johnson, the US based health care manufacturer has acquired Scios, a biopharmaceutical company with a marketed product for cardiovascular disease and research projects focused on autoimmune diseases.

Scios' disease-based technology platform integrates expertise in protein biology with computational and medicinal chemistry to identify novel targets and rationally design small molecule compounds for large markets with unmet medical needs.

The company's Natrecor is the first novel agent approved for congestive heart failure (CHF) in more than a decade. It is a recombinant form of a naturally occurring protein secreted by the heart as part of the body's response to CHF. The drug has several significant advantages over existing therapies for CHF, the single most common cause of hospitalisation in the United States for patients over 65.

The principal focus of Scios' research and development program is small molecule inhibitors, and includes several potential new treatments for pain and inflammatory diseases, including an advanced p-38 kinase inhibitor program.

'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 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.'

Richard B. Brewer, president and ceo of Scios, said: 'This is an important strategic transaction for Scios, further strengthening our organisation's financial and operational capabilities for the long-term and achieving for our shareholders an immediate premium cash return on their investment.'