MORE ON BIOTECH

Scios Restructuring: Scios Inc. said it will cut about 30% of its work force and consolidate facilities as it tries to become profitable while waiting for approval of its Natrecor drug. The changes are expected to save about $14 million a year. The Mountain View, Calif.-based company will take a charge of about $7 million in the first quarter to cover severance costs and disposition of some assets. In January, Scios won the backing of a federal panel for Natrecor, used to treat patients with congestive heart failure. Scios said about 80 employees were given notice of their firings and were informed of the details of their severance packages. The firm is selling its Mountain View site and transferring operations into its research facility in Sunnyvale. The cuts will leave the company with about 200 full-time employees. Scios had a loss of $2.36 million, or 6 cents a share, in 1998, compared with a loss of $38.7 million, or $1.07, in 1997. Its shares rose 6 cents to close at $9.31 on Nasdaq.