Company news

November 18, 2009
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Indiana companies achieved second- and third-place finishes in Purdue University’s life sciences business plan competition this year. Nano-Rad LLC, based in West Lafayette, won $36,000 for being runner-up. It is developing low-dose radiation therapy for zapping edges of tumors left over after surgery. The third-place finisher was Lafayette-based Glytrix Inc. It won $14,000 for its plan for therapies that reduce skin scarring after surgery. The winner was Massachusetts-based Novophage Technology, which is developing a corneal-repair device for patients’ eyes as an alternative to expensive corneal transplants. It took home $30,000.

Indianapolis-based Dow AgroSciences, still a bit player in the seed business, continues to partner with its larger rivals to expand its market presence. Dow Agro, a subsidiary of Michigan-based Dow Chemical Co., signed a non-exclusive licensing agreement to share its herbicide-tolerant trait for soybeans with Delaware-based DuPont and its Pioneer unit. In exchange, Pioneer is licensing non-exclusively its Optimum GAT herbicide-tolerant trait for soybeans to Dow Agro. Financial details of the agreement were not disclosed.

St. Vincent Health and OrthoIndy are the latest hospital and physician groups to run into each others' arms in response to the reform winds coming out of Washington, D.C. The Indianapolis-based organizations announced Friday they will create a management company to handle physician work at St. Vincent's hospitals in Indianapolis. St. Vincent also acquired a minority stake in OrthoIndy's orthopedic hospital, located a few miles west of St. Vincent's flagship facility on West 86th Street. All doctors face a 21-percent cut to Medicare reimbursement next year unless Congress steps in to change it, which it has done in the past. And with Congress spending nearly $1 trillion to expand health insurance coverage, doctors have small hopes that reimbursement from federal programs will reverse their recent trends of falling or staying flat.  “Clearly, when we did this transaction, we had an eye on health care reform,” said John Martin, CEO of OrthoIndy, a group of more than 70 physicians who specialize in bone, joint and spine therapy.

Arcadia Resources Inc. lost $4.1 million, or 3 cents per share, in the quarter ended Sept. 30, compared with a loss of $3.2 million, or 2 cents per share, in the same quarter a year earlier. Revenue fell 4 percent, to $25.6 million. Indianapolis-based Arcadia is trying to grow its DailyMed pharmaceutical service, which packages the right dosages of prescriptions into individual packets, to make it easier for patients on numerous medications to stick to their regimens. Arcadia announced Monday it is rolling out DailyMed in California. While Arcadia's pharmacy revenue grew slower than expected, it still soared 181 percent over the same quarter last year, to $3.4 million. Profit margins in that business also grew to 15.1 percent, up from 11.1 percent in the previous quarter.

The National Institutes of Health have given $1.3 million to Indiana University to establish the East African Center of Excellence in Health Informatics. The new center will help East African countries use electronic health records to increase the efficiency and quality of health care.


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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.