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Biotech / Medical : Munch-a-Biotech Today -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (1457)	2/10/2003 1:59:42 PM
From: tom pope	Read Replies (1) \| Respond to of 3158

This is from the SCIO web site: NEW BRUNSWICK, N.J., and SUNNYVALE, Calif., Feb 10, 2003 /PRNewswire-FirstCall via COMTEX/ -- Johnson & Johnson (NYSE: JNJ), the world's most comprehensive and broadly based manufacturer of health care products, and Scios Inc. (Nasdaq: SCIO), a biopharmaceutical company with a marketed product for cardiovascular disease and research projects focused on auto-immune diseases, today announced they have signed a definitive agreement under which Johnson & Johnson will acquire Scios in a cash for stock exchange. Under the terms of the agreement, Scios shareholders will receive $45.00 for each outstanding Scios share. The value of the transaction as of the anticipated closing date is expected to be approximately $2.4 billion, net of cash, based on Scios' approximately 59.8 million fully diluted shares outstanding.