SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
----------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) September 15, 1998
SCIOS INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-11749 95-3701481
(State of Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
2450 Bayshore Parkway, Mountain View, California 94043
(Address of Principal Executive Offices)
Registrant's telephone number, including area code (650) 966-1550
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Item 5. Other Events
On September 15, 1998, Scios Inc. announced that it had appointed
Richard B. Brewer as President and Chief Executive Officer and a director and
that Richard L. Casey had retired as an officer and director. The press release
is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Exhibits.
99.1 Press Release dated September 15, 1998
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this amendment to be signed on its behalf of the
undersigned, thereunto duly authorized.
SCIOS INC.
Date: October 27, 1998 By: /s/ John H. Newman
------------------------------
John H. Newman
Senior Vice President
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INDEX TO EXHIBITS
SCIOS INC.
Report on Form 8-K dated October 27, 1998
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Exhibit Description Method of Filing
<S> <C> <C>
99.1 Press Release dated September 15, 1998 Filed electronically herewith
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EXHIBIT 99.1
SCIOS NAMES RICHARD B. BREWER AS CHIEF EXECUTIVE OFFICER
--Richard L. Casey Retires as Chairman and CEO --
MOUNTAIN VIEW, CA -September 15, 1998--Scios Inc. (Nasdaq: SCIO) announced today
that Richard B. Brewer has been named the company's new president and CEO,
following the retirement of current chairman and CEO Richard Casey as an officer
and director. Mr. Brewer has also been elected a director of Scios.
Mr. Brewer brings more than 20 years of health care industry experience
and leadership to Scios, most recently as Chief Operating Officer of Heartport,
a cardiovascular device company. Mr. Brewer held a number of senior management
positions during his 11-year tenure at Genentech, including senior vice
president, where he had significant involvement in the strategic development of
Genentech's product pipeline, and responsibility for building Genentech's
European and Canadian business and its U.S. sales and marketing organization.
Prior to joining Genentech, he held a variety of cardiovascular sales and
marketing positions at G.D. Searle and Company.
"Dick Brewer comes to Scios with a strong track record of leadership
and innovation. His reputation as a seasoned executive at the cutting edge of
the development of new cardiovascular agents and devices will serve Scios well
as we prepare to bring Scios' product Natrecor(R) (nesiritide) to market with
our partner, Bayer," said Myron Du Bain, chairman of the Scios board of
director's search committee. "Going forward, Dick's expertise in successful
strategic product development will add further value to our exciting pipeline of
new products," Du Bain continued.
"Rich Casey has led the company over the last 11 years, and forged and
implemented the strategy that has brought Scios to the threshold of
profitability and marketing approval of its first product, Natrecor. The board
has honored Rich's desire to seek new challenges, but he will remain a
consultant to the company for the next two years. We thank him for his
contributions and wish him the best of luck in the future," said Du Bain.
<PAGE>
Scios submitted a new drug application (NDA) for Natrecor to the U.S.
Food and Drug Administration (FDA) in April 1998 and announced its strategic
alliance with Bayer AG for the worldwide commercialization of Natrecor in May
1998. Upon approval, Natrecor will be the first new therapy for the short-term
treatment of congestive heart failure (CHF) in nearly a decade. CHF affects an
estimated 4.9 million Americans and is responsible for nearly one million
hospitalizations each year. CHF is the leading cause of hospitalizations of
patients over the age of 65.
"Scios has an important and valuable cardiovascular product in
Natrecor, which is rapidly nearing the market as a treatment for CHF. With
Natrecor on the horizon and exciting products under development, Scios is poised
to deliver on its objective of bringing innovative and valuable new products to
market," said Brewer. "I look forward to joining forces with the Scios team as
we strive to realize our goal of increasing the company's value for stockholders
through the successful development of Scios' significant product pipeline," he
added.
Scios is a biopharmaceutical company engaged in the discovery,
development, manufacture and commercialization of novel human therapeutics
focusing in the areas of cardiorenal and Alzheimer's disease. The company has
research and development collaborations with Bayer AG, Wyeth-Ayerst
Laboratories, the pharmaceutical division of American Home Products Corporation,
Eli Lilly and Company, DuPont Pharmaceuticals Company, Kaken Pharmaceutical Co.,
Ltd., and Novo Nordisk A/S. Additional information is available at Scios' web
site: http://www.sciosinc.com.
The statements in this press release that are not historical facts are
forward-looking statements that involve risks and uncertainties and may include
Scios' ability to obtain marketing approval of Natrecor, Bayer's implementation
of an effective sales and marketing strategy for Natrecor in a competitive
healthcare environment, and Scios' successful development and approval of its
other products, as well as other risks detailed from time to time in the Scios'
SEC reports, including its annual report on Form 10-K for the year ended
December 31, 1997 and on quarterly reports on Form 10-Q for subsequent quarters.
# # # # # #
Release No. 98-15
Contact: Mary Ann Allencourt, 650-940-6629
