content: <PAGE>
   
  
                        SECURITIES AND EXCHANGE COMMISSION
  
                              WASHINGTON, D. C. 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): October 4, 1998
  
                           SEQUUS PHARMACEUTICALS, INC.
              (Exact name of registrant as specified in its charter)
  
            DELAWARE                     0-15847                  94-3031834
  (State or other jurisdiction    (Commission File No.)         (IRS Employer 
        of incorporation)                                     Identification No.) 
  
   
                                960 Hamilton Court
                               Menlo Park, CA 94025
                     (Address of principal executive offices 
                                   and zip code)
   
                     Registrant's telephone number, including 
                             area code: (650) 323-9011
  
  
            ___________________________________________________________
                  (former address, if changed since last report)
  <PAGE>
   
                               ITEM 5. OTHER EVENTS.
  
  
       On October 4, 1998, SEQUUS Pharmaceuticals, Inc., a Delaware corporation
  ("SEQUUS"), entered into an Agreement and Plan of Merger (the "Merger
  Agreement") with ALZA Corporation, a Delaware corporation ("ALZA"), and Argyle
  Acquisition Corp., a Delaware corporation and a wholly-owned subsidiary of ALZA
  (the "Merger Sub"). Pursuant to the terms of the Merger Agreement, and subject
  to the conditions set forth therein (including approval of the transaction by
  the stockholders of SEQUUS), the Merger Sub will be merged with and into SEQUUS
  (the "Merger"). At the effective time of the Merger, the separate existence of
  the Merger Sub will cease, SEQUUS will become a wholly-owned subsidiary of ALZA
  and each outstanding share of SEQUUS common stock will be exchanged for 0.4 of a
  share of ALZA common stock. The Merger is intended to be a tax-free
  reorganization pursuant to Section 368(a) of the Internal Revenue Code of 1986,
  as amended, and is intended to be treated as a pooling of interests for
  financial reporting purposes.
  
       A copy of the Agreement is attached hereto as Exhibit 2.1 and incorporated
  herein by reference.
  
  
  <PAGE>
   
  ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
  
          (c)  Exhibits
  
  Exhibit No.  Description
               -----------
  
  2.1          Agreement and Plan of Merger dated as of October 4, 1998, by and
               among ALZA Corporation, Argyle Acquisition Corp. and SEQUUS
               Pharmaceuticals, Inc., and exhibits thereto.
  
  
  <PAGE>
   
                                    SIGNATURES
  
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  registrant has duly caused this report to be signed on its behalf by the
  undersigned hereunto duly authorized.
  
                           SEQUUS PHARMACEUTICALS, INC.
  
  Dated:  October 15, 1998   By:  /s/ John Richard
          ----------------   ---  ----------------
  
  
                             Name:  John Richard
                             Title: Executive Vice President of Business 
                                    Development
  <PAGE>
   
                                   EXHIBIT INDEX
  
                                                                   SEQUENTIALLY
  EXHIBIT                                                            NUMBERED
  NO.                             DESCRIPTION                          PAGE
                                  -----------                          ----
  2.1          Agreement and Plan of Merger dated as of October 4, 
               1998, by and among ALZA Corporation, Argyle 
               Acquisition Corp. and SEQUUS Pharmaceuticals, Inc., 
               including exhibits thereto.
metadata_documents: [{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 3899}]
metadata_filer: {"company-data": {"conformed-name": "SEQUUS PHARMACEUTICALS INC", "cik": "0000812444", "assigned-sic": "2834", "irs-number": "943031834", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-29264", "film-number": "98726262"}, "business-address": {"street1": "960 HAMILTON COURT", "city": "MENLO PARK", "state": "CA", "zip": "94025", "phone": "(415)-323-"}, "mail-address": {"street1": "960 HAMILTON CT", "street2": "960 HAMILTON CT", "city": "MENLO PARK", "state": "CA", "zip": "94025"}, "former-company": {"former-conformed-name": "LIPOSOME TECHNOLOGY INC /DE/", "date-changed": "19920703"}}
text: SECURITIES AND EXCHANGE COMMISSION
  
                              WASHINGTON, D. C. 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): October 4, 1998
  
                           SEQUUS PHARMACEUTICALS, INC.
              (Exact name of registrant as specified in its charter)
  
            DELAWARE                     0-15847                  94-3031834
  (State or other jurisdiction    (Commission File No.)         (IRS Employer 
        of incorporation)                                     Identification No.) 
  
   
                                960 Hamilton Court
                               Menlo Park, CA 94025
                     (Address of principal executive offices 
                                   and zip code)
   
                     Registrant's telephone number, including 
                             area code: (650) 323-9011
  
            ___________________________________________________________
                  (former address, if changed since last report)
  ITEM 5. OTHER EVENTS.
  
       On October 4, 1998, SEQUUS Pharmaceuticals, Inc., a Delaware corporation
  ("SEQUUS"), entered into an Agreement and Plan of Merger (the "Merger
  Agreement") with ALZA Corporation, a Delaware corporation ("ALZA"), and Argyle
  Acquisition Corp., a Delaware corporation and a wholly-owned subsidiary of ALZA
  (the "Merger Sub"). Pursuant to the terms of the Merger Agreement, and subject
  to the conditions set forth therein (including approval of the transaction by
  the stockholders of SEQUUS), the Merger Sub will be merged with and into SEQUUS
  (the "Merger"). At the effective time of the Merger, the separate existence of
  the Merger Sub will cease, SEQUUS will become a wholly-owned subsidiary of ALZA
  and each outstanding share of SEQUUS common stock will be exchanged for 0.4 of a
  share of ALZA common stock. The Merger is intended to be a tax-free
  reorganization pursuant to Section 368(a) of the Internal Revenue Code of 1986,
  as amended, and is intended to be treated as a pooling of interests for
  financial reporting purposes.
  
       A copy of the Agreement is attached hereto as Exhibit 2.1 and incorporated
  herein by reference.
  ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
  
          (c)  Exhibits
  
  Exhibit No.  Description
               -----------
  
  2.1          Agreement and Plan of Merger dated as of October 4, 1998, by and
               among ALZA Corporation, Argyle Acquisition Corp. and SEQUUS
               Pharmaceuticals, Inc., and exhibits thereto.
  SIGNATURES
  
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  registrant has duly caused this report to be signed on its behalf by the
  undersigned hereunto duly authorized.
  
                           SEQUUS PHARMACEUTICALS, INC.
  
  Dated:  October 15, 1998   By:  /s/ John Richard
          ----------------   ---  ----------------
  
                             Name:  John Richard
                             Title: Executive Vice President of Business 
                                    Development
  EXHIBIT INDEX
  
                                                                   SEQUENTIALLY
  EXHIBIT                                                            NUMBERED
  NO.                             DESCRIPTION                          PAGE
                                  -----------                          ----
  2.1          Agreement and Plan of Merger dated as of October 4, 
               1998, by and among ALZA Corporation, Argyle 
               Acquisition Corp. and SEQUUS Pharmaceuticals, Inc., 
               including exhibits thereto.