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Johnson & Johnson, the international manufacturer of health care products, recently acquired Sunnyvale-based biotech company Scios for $2.4 billion. Suzanne Beveridge, senior director of investor relations and corporate communications at Scios, said that Scios plans to retain the same company name, identity and management. "If you look at similar acquisitions and the way Johnson & Johnson does business, they typically acquire the company and leave it alone," Beveridge said.
Beveridge said there are no layoffs planned and that instead of worrying about negative impacts, Scios employees can expect to gain from the takeover because of the benefits that Johnson & Johnson offers its employees. "The resources the company will be able to invest in Scios will offer employees many opportunities for advancing their careers," she said.
With Johnson & Johnson's financial investment, Scios employees will be able
to expand their research.
Scios employees are currently working on a drug to treat rheumatoid arthritis, which is proving to be very promising in clinical trials, according to Beveridge.
"The drug has the potential for quite a large market opportunity, since 2 million patients in the U.S. have rheumatoid arthritis," said Beveridge.
Scios recently launched a drug called Natrecor, which treats patients with congestive heart failure. Sales of the drug are expected to exceed $160 million this year.
The recent acquisition allows Johnson & Johnson to put Scios' drugs in their pipeline. Mark Monseau, spokesperson for Johnson & Johnson, said the company will work with Scios to promote the drugs. He said, "We're going to explore a broad range of options to promote Natrecor." He confirms that Johnson & Johnson plans to keep the company intact. At the same time, Monseau said, Johnson & Johnson "will provide any additional resources that might benefit them."
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