NEW BRUNSWICK, N.J., April 29 /PRNewswire-FirstCall/ -- Johnson & Johnson
 today said it has completed its acquisition of Scios Inc.  The transaction was
 announced on Feb. 10, 2003.
     Under the terms of the transaction, Scios shareholders will receive $45.00
 for each outstanding Scios share.  The transaction is valued at approximately
 $2.4 billion, net of cash.
     Due to the closing, Scios will not be conducting its customary conference
 call discussing its first quarter 2003 financial results.
     Scios, which will operate as part of the pharmaceuticals group of Johnson
 & Johnson, is a biopharmaceutical company developing novel treatments for
 cardiovascular and inflammatory disease.  The company's disease-based
 technology integrates expertise in protein biology with computational and
 medicinal chemistry to identify novel targets and rationally design small
 molecule compounds for large markets with unmet medical needs.  The company's
 product NATRECOR(R) is the first novel agent approved for congestive heart
 failure in more than a decade.
 
     Johnson & Johnson, with approximately 110,300 employees, is the world's
 most comprehensive and broadly based manufacturer of health care products, as
 well as a provider of related services for the consumer, pharmaceutical, and
 medical device and diagnostics markets.  Johnson & Johnson has more than 200
 operating companies in 54 countries around the world, selling products in more
 than 175 countries.
 
     (This press release contains "forward-looking statements" as defined in
 the Private Securities Litigation Reform Act of 1995.  These statements are
 based on current expectations of future events.  If underlying assumptions
 prove inaccurate or unknown risks or uncertainties materialize, actual results
 could vary materially from the Company's expectations and projections.  Risks
 and uncertainties include general industry conditions and competition;
 economic conditions, such as interest rate and currency exchange rate
 fluctuations; technological advances and patents attained by competitors;
 challenges inherent in new product development, including obtaining regulatory
 approvals; domestic and foreign health care reforms and governmental laws and
 regulations; and trends toward health care cost containment. A further list
 and description of these risks, uncertainties and other factors can be found
 in Exhibit 99(b) of the Company's Annual Report on Form 10-K for the fiscal
 year ended December 29, 2002. Copies of this Form 10-K are available online at
 www.sec.gov or on request from the Company. The Company assumes no obligation
 to update any forward-looking statements as a result of new information or
 future events or developments.)
 
 

SOURCE  Johnson & Johnson