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BUSINESS
August 14, 2001 | Reuters
Biotechnology company Scios Inc. said U.S. regulators approved its Natrecor drug, which will be the first new treatment for congestive heart failure to come to the market in more than a decade. The Sunnyvale-based company plans to launch Natrecor in U.S. hospitals this month. The Food and Drug Administration rejected Natrecor in 1999, forcing the company to provide greater proof of its efficacy. Scios stock fell 23 cents to close at $20.12 on Nasdaq.
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SCIENCE
November 4, 2013 | By Melissa Healy
The world's eighth-largest drug maker, Johnson & Johnson, has agreed to pay the U.S. government $2.2 billion to settle cases in which the government has alleged that the company and its subsidiaries promoted powerful psychiatric medications for uses not approved by the Food and Drug Administration and offered financial kickbacks for physicians who prescribed those medications frequently. The Justice Department says Monday's agreement, which has been years in the making, is of the largest healthcare fraud settlements in U.S. history, with criminal fines totalling $485 million and civil and administrative penalties totalling $1.72 billion.
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BUSINESS
February 14, 2003 | From Bloomberg News
Scios Inc., the company being bought by Johnson & Johnson, said 2003 sales of its Natrecor heart drug will rise to as much as $185 million, higher than it had forecast. Natrecor sales probably will be $180 million to $185 million, more than the company's previous range of $160 million to $170 million, Sunnyvale, Calif.-based Scios said. Scios' fourth-quarter loss narrowed to $18.5 million, or 40 cents a share, from $28.8 million, or 63 cents, in the same period of 2001.
BUSINESS
April 4, 2003 | From Bloomberg News
Johnson & Johnson won clearance from the Federal Trade Commission to buy biotechnology company Scios Inc. for $2.1 billion. The companies said they expected the cash deal to be completed "as promptly as possible" after Scios shareholders vote on the purchase April 28. Scios, which makes the heart drug Natrecor, agreed to a $45-a-share offer from Johnson & Johnson in February. Shares of Johnson & Johnson fell 95 cents to $57.46 on the NYSE. Shares of Sunnyvale, Calif.
BUSINESS
April 4, 2003 | From Bloomberg News
Johnson & Johnson won clearance from the Federal Trade Commission to buy biotechnology company Scios Inc. for $2.1 billion. The companies said they expected the cash deal to be completed "as promptly as possible" after Scios shareholders vote on the purchase April 28. Scios, which makes the heart drug Natrecor, agreed to a $45-a-share offer from Johnson & Johnson in February. Shares of Johnson & Johnson fell 95 cents to $57.46 on the NYSE. Shares of Sunnyvale, Calif.
BUSINESS
April 4, 1997 | Bloomberg News
Mountain View-based Scios Inc. said its kidney failure drug Auriculin wasn't effective in a late-stage clinical test, sending its shares down 30%. Scios shares fell $2 to $4.688 in Nasdaq trading of 2.19 million, almost 10 times the three-month daily average. It's the second setback for the drug. In a 1995 test, Scios said Auriculin was effective in fewer patients than expected.
BUSINESS
May 14, 1992
Scios Inc. and Nova Pharmaceutical Corp. said Wednesday that they have agreed to merge in a $180-million stock swap. The merger will combine two complementary operations, providing near- and long-term opportunities, said Richard L. Casey, president and chief executive of Scios. The Mountain View-based company was called California Biotechnology Inc. until this March.
SCIENCE
November 4, 2013 | By Melissa Healy
The world's eighth-largest drug maker, Johnson & Johnson, has agreed to pay the U.S. government $2.2 billion to settle cases in which the government has alleged that the company and its subsidiaries promoted powerful psychiatric medications for uses not approved by the Food and Drug Administration and offered financial kickbacks for physicians who prescribed those medications frequently. The Justice Department says Monday's agreement, which has been years in the making, is of the largest healthcare fraud settlements in U.S. history, with criminal fines totalling $485 million and civil and administrative penalties totalling $1.72 billion.
BUSINESS
March 2, 1999 | Bloomberg News
Scios Restructuring: Scios Inc. said it will cut about 30% of its work force and consolidate facilities as it tries to become profitable while waiting for approval of its Natrecor drug. The changes are expected to save about $14 million a year. The Mountain View, Calif.-based company will take a charge of about $7 million in the first quarter to cover severance costs and disposition of some assets.
BUSINESS
April 4, 1993 | Reuters
Scios Inc. said it agreed with Marion Merrell Dow Inc. to develop new therapies for Alzheimer's disease. Marion Merrell Dow will fund ongoing work at Scios in return for exclusive rights to develop and sell any drugs developed.
BUSINESS
February 14, 2003 | From Bloomberg News
Scios Inc., the company being bought by Johnson & Johnson, said 2003 sales of its Natrecor heart drug will rise to as much as $185 million, higher than it had forecast. Natrecor sales probably will be $180 million to $185 million, more than the company's previous range of $160 million to $170 million, Sunnyvale, Calif.-based Scios said. Scios' fourth-quarter loss narrowed to $18.5 million, or 40 cents a share, from $28.8 million, or 63 cents, in the same period of 2001.
BUSINESS
August 14, 2001 | Reuters
Biotechnology company Scios Inc. said U.S. regulators approved its Natrecor drug, which will be the first new treatment for congestive heart failure to come to the market in more than a decade. The Sunnyvale-based company plans to launch Natrecor in U.S. hospitals this month. The Food and Drug Administration rejected Natrecor in 1999, forcing the company to provide greater proof of its efficacy. Scios stock fell 23 cents to close at $20.12 on Nasdaq.
BUSINESS
March 2, 1999 | Bloomberg News
Scios Restructuring: Scios Inc. said it will cut about 30% of its work force and consolidate facilities as it tries to become profitable while waiting for approval of its Natrecor drug. The changes are expected to save about $14 million a year. The Mountain View, Calif.-based company will take a charge of about $7 million in the first quarter to cover severance costs and disposition of some assets.
BUSINESS
April 4, 1997 | Bloomberg News
Mountain View-based Scios Inc. said its kidney failure drug Auriculin wasn't effective in a late-stage clinical test, sending its shares down 30%. Scios shares fell $2 to $4.688 in Nasdaq trading of 2.19 million, almost 10 times the three-month daily average. It's the second setback for the drug. In a 1995 test, Scios said Auriculin was effective in fewer patients than expected.
BUSINESS
May 14, 1992
Scios Inc. and Nova Pharmaceutical Corp. said Wednesday that they have agreed to merge in a $180-million stock swap. The merger will combine two complementary operations, providing near- and long-term opportunities, said Richard L. Casey, president and chief executive of Scios. The Mountain View-based company was called California Biotechnology Inc. until this March.
BUSINESS
April 30, 2003
* A federal judge in Manhattan approved a settlement of a lawsuit that accused Metropolitan Life Insurance Co. of discriminating against blacks and other minorities in the selling of policies. The settlement could cost MetLife as much as $90 million. * Johnson & Johnson said it completed its acquisition of Sunnyvale, Calif., biotechnology company Scios Inc. for $2.4 billion. * Wham-O Inc. of Emeryville, Calif., said it bought the assets of Rockville, Md.-based snowboard maker Riva Sports Inc.
BUSINESS
September 12, 1997
Scios Inc. shares rose 24% after the company said it plans to file for U.S. Food and Drug Administration approval of its heart drug, Natrecor, based on the strength of a new study. Natrecor significantly improved heart functioning and patients' symptoms, the Mountain View company said. Natrecor is a natural heart hormone that reduces fluid buildup and pressure, believed to be triggers for acute attacks. Scios' shares rose $1.69 to close at $8.94 on Nasdaq.
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