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January 27, 2010
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The Indiana University School of Medicine in Indianapolis will be one of 12 sites for a clinical trial of a potentially groundbreaking treatment for autism. New York-based Curemark LLC has developed an ingestible powder designed to help patients digest protein. The drug is the product of research by Curemark founder Dr. Joan Fallon, who found that many autistic children lack enzymes to digest protein, meaning their bodies cannot produce the amino acids crucial in brain development. If it proves effective against autism, the powder, called CA-MT, would be the first treatment to reverse the underlying causes of autism.

Hopes rose Tuesday that Eli Lilly and Co. and its partner Amylin Pharmaceuticals Inc. will win approval of their new version of diabetes treatment Byetta. That’s because the U.S. Food and Drug Administration on Monday approved a Byetta rival, Victoza, developed by Denmark-based Novo Nordisk A/S. Victoza is a once-daily shot, compared with the twice-daily Byetta. But Indianapolis-based Lilly and San Diego-based Amylin have asked the FDA to approve a once-weekly version of Byetta, which would be the most convenient for patients. Analysts expect sales of once-weekly Byetta to reach as high as $2 billion by 2015, which would be split by Lilly and Amylin. Sales of twice-daily Byetta last year were on pace to reach about $790 million. What’s been holding up Victoza and the once-weekly Byetta have been regulator concerns about patients developing inflammation of the pancreas while taking the drugs. The FDA required Victoza’s label to warn about pancreatitis as well as use in patients at risk for a rare thyroid cancer. Those warnings were milder than many analysts had feared. One analyst expects the FDA to make a decision on once-weekly Byetta by March 5.

Warsaw-based Symmetry Medical Inc. will manufacture implants, instruments and cases for OrthoPediatrics Corp., another Warsaw-based company that makes orthopedic implants for children. Symmetry expects to bring in $3 million in revenue from the deal this year. Symmetry also will receive fees for inventory management, warehousing and supply-chain management services. The agreement will last for five years.

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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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