Johnson & Johnson Wins OK to Buy Scios
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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.-based Scios gained 60 cents to $44.80 on Nasdaq.
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