Los Angeles Times Examines Merger of Johnson & Johnson, Scios
The Los Angeles Times on Wednesday examined Johnson & Johnson's $2.4 billion acquisition of the biotechnology company Scios and the issues that accompanied the transition to new ownership. According to the Times, "many at Scios" were concerned about some scientists at the company "losing objectivity" during the merger. "Integration meetings" between J&J representatives and senior Scios officials established new "corporate priorities," which included eliminating a drug factory planned by Scios, shifting responsibility for drug research to J&J and re-examining all projects, according to the Times.
The Times article profiled Scios CEO Richard Brewer, who was diagnosed with and treated for multiple myeloma during the time of the merger. Brewer said that at that time Scios' experimental cancer treatment -- which he credited with helping to save his life -- "was constantly under review." In February, Brewer left Scios, and he now advises start-up pharmaceutical companies and serves on the boards of several biotech companies (Gellene, Los Angeles Times, 6/1).