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Exhibit 99.2
FOR IMMEDIATE RELEASE
CONTACTS:
Vince Barella Shelley Schneiderman
Manager, Associate Manager,
Corporate Communications & Corporate Communications &
Investor Relations Investor Relations
(510) 923-2138 (510) 923-6905
CHIRON CORPORATION COMPLETES ACQUISITION
OF PATHOGENESIS CORPORATION
EMERYVILLE, CA, SEPTEMBER 22, 2000 - Chiron Corporation (Nasdaq: CHIR) announced
today the completion of the acquisition of PathoGenesis Corporation (Nasdaq:
PGNS) by Picard Acquisition Corp., a wholly owned subsidiary of Chiron
Corporation. The merger follows a cash tender offer for all outstanding shares
of PathoGenesis common stock at $38.50 per share, which was completed at
midnight, New York City time, on September 18, 2000. As a result of the merger,
each outstanding share of PathoGenesis not owned by Chiron, its subsidiaries or
PathoGenesis has been automatically converted into the right to receive $38.50
in cash. PathoGenesis shareholders who did not tender their shares into the
tender offer will receive a Notice of Merger and a Letter of Transmittal that
will instruct them as to how to receive the $38.50 per share or, in the
alternative, exercise appraisal rights under Delaware law.
ABOUT CHIRON CORPORATION
Chiron Corporation, headquartered in Emeryville, California, is a leading
biotechnology company that participates in three global healthcare markets:
biopharmaceuticals, vaccines, and blood testing. The company is applying a broad
and integrated scientific approach to the development of innovative products for
preventing and treating cancer, infection and cardiovascular disease. For more
information about Chiron, visit the company's web site at HTTP://WWW.CHIRON.COM.
THIS NEWS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS THAT INVOLVE RISKS AND
UNCERTAINTIES. A FULL DISCUSSION OF CHIRON'S OPERATIONS AND FINANCIAL CONDITION,
INCLUDING FACTORS THAT MAY AFFECT ITS BUSINESS AND FUTURE PROSPECTS, IS
CONTAINED IN DOCUMENTS THE COMPANY FILES WITH THE SEC, SUCH AS FORM 10-Q AND
FORM 10-K. THESE DOCUMENTS IDENTIFY IMPORTANT FACTORS THAT COULD CAUSE THE
COMPANY'S ACTUAL PERFORMANCE TO DIFFER FROM CURRENT EXPECTATIONS, INCLUDING THE
OUTCOME OF CLINICAL TRIALS, REGULATORY REVIEW, MANUFACTURING CAPABILITIES AND
MARKETING.
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