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July 9, 2012
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Investors gave a cheer to WellPoint Inc.’s $4.9 billion deal to acquire Amerigroup Corp., a Virginia-based Medicaid managed care company. Shares of the Indianapolis-based health insurer shot up more than 5 percent in pre-market trading Monday and were still up 3 percent after 1 p.m. even as the broader markets fell slightly. Investors and analysts like the fact that WellPoint is playing more aggressively in government-sponsored health plans, such as Medicaid and Medicare, which are projected to be the areas for growth the next several years. “This acquisition aligns WellPoint much better with where the market is heading in terms of customers and markets,” Credit Suisse analyst Charles Boorady said during a conference call Monday morning. The deal will bring WellPoint more than 2.6 million Medicaid members in 12 states—more than doubling the 1.9 Medicaid members the company now manages. The combined companies would be the largest provider of Medicaid managed care in the nation. Medicaid is a health insurance program for the poor funded jointly by states and the federal government. Along with the federal Medicare program for seniors, it is expected to be a key driver of growth for health insurers over the next few years.

Meadows Community Foundation will develop a 70,000-square-foot Health & Wellness Center in the Avondale Meadows Community on Indianapolis’ northeast side.  The nearly $20 million facility is part of a 100-acre neighborhood revitalization within the Meadows area, financed in part by a group started by superstar investor Warren Buffet. The new center will include an 18,000-square-foot health clinic operated by Indianapolis-based HealthNet Inc. and a 32,000-square-foot outpost of the YMCA. The center will provide early-learning classrooms for children, as well as youth mentoring and family programs.

Andrew Saykin, director of the Indiana University Center for Neuroimaging, is serving as principal investigator for a new nationwide research project to understand the genetics of Alzheimer’s disease. The researchers will sequence the genomes of more than 800 older adults who are currently part of the Alzheimer’s Disease Neuroimaging Initiative, an 8-year-old project to find biological markers that indicate when Alzheimer’s is developing. The National Cell Repository for Alzheimer's Disease at the Indiana University School of Medicine will serve as the storage site for the DNA samples collected around the country for the initiative. “This is the equivalent of going from a good quality map of the United States to having the detailed blueprints for everything within our borders,” Saykin said in a statement.

Eli Lilly and Co. received an extra six months of marketing exclusivity in the United States for its antidepressant Cymbalta, its biggest-selling drug. The Indianapolis-based drugmaker said marketing exclusivity on Cymbalta will now expire in December 2013, which means cheaper generic copies of the drug will not be approved until then. The extension likely will give Lilly an extra $2 billion in sales, according to the Associated Press. The drugmaker said the U.S. Food and Drug Administration had determined that Cymbalta meets requirements for a pediatric exclusivity extension even though Cymbalta is not approved for use in children. U.S. sales of Cymbalta totaled $1.8 billion in the fourth quarter of 2011 and the first quarter of 2012. That was about three-quarters of all worldwide sales of the drug.

Erbitux, a cancer treatment made by Indianapolis-based Eli Lilly and Co.'s Imclone unit, failed to help patients with advanced stomach tumors in a late-stage clinical trial, according to the company that markets the drug overseas. Erbitux, when combined with two other medicines, didn’t extend the length of time that patients lived without their disease getting worse, said Germany-based Merck KGaA. Lilly and New York-based Bristol-Myers Squibb Co. market Erbitux in the United States and Canada, while Merck promotes it in all other markets. According to Bloomberg News, Lilly realized total revenue of $409 million from Erbitux in 2011.

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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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