Health Care & Insurance

Q&A

April 25, 2011
J.K. Wall
Paul Leamon launched Wellfount Corp. five years ago to help long-term-care facilities automate and electronically manage their pharmacies. Wellfount made the Inc. 500 list last year and now has secured $6 million in venture capital from Arboretum Ventures to help it expand nationally.
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Much unknown about new Cook Group CEO

April 22, 2011
Scott Olson
Carl Cook has been tabbed to replace his father, Bill Cook, who died a week ago. But many in the Bloomington business community know little about him, which reflects the company's strict privacy policy.
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CVS to pay $858K over inflated drug claims

April 21, 2011
Associated Press
Indiana Attorney General Greg Zoeller says the state will get $858,000 from CVS Pharmacy Inc. to settle allegations that the company overcharged Medicaid programs.
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Insurer coveted by Biglari sold to another firm

April 21, 2011
Scott Olson
Steak n Shake's parent company, Biglari Holdings, twice tried to acquire Fremont Michigan Insuracorp Inc. before the insurer agreed to be sold to Michigan-based Auto Club Insurance Association. Biglari, which owns nearly 10 percent of the insurer's shares, nevertheless was a winner in the sale.
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State's top anti-smoking agency could be abolished

April 20, 2011
Scott Olson
Indiana Tobacco Prevention and Cessation, formed in 2001 and funded by money from a settlement with the tobacco industry, may be consolidated into the state Department of Health as a budget-cutting measure.
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State Senate OKs bill to cut Planned Parenthood aid

April 19, 2011
Associated Press
The Indiana Senate approved a bill Tuesday that would cut off funding to Planned Parenthood and give the state some of the country's tightest abortion restrictions.
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Indiana House passes criminal checks on medical workers

April 19, 2011
Associated Press
The Indiana House has approved a bill requiring criminal background checks for anyone seeking a new license to be a doctor, dentist or several other health care jobs.
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Wellfount nabs $6M in venture capital

April 19, 2011
The Indianapolis-based institutional pharmacy, which serves long-term-care facilities, wants to expand its business nationally.
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Indiana Senate backs pulling Planned Parenthood money

April 18, 2011
Associated Press
The Indiana Senate voted Monday to prohibit any state contracts or grants with Planned Parenthood or other organizations that provide abortions.
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Lilly shareholders fail to remove anti-takeover measures

April 18, 2011
J.K. Wall
A proposal that would have weakened Eli Lilly and Co.’s defenses against an unwanted takeover failed to pass Monday despite a large majority of shareholders voting to remove those barriers for the second straight year.
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Analysts demand news on next Lilly blockbuster

April 18, 2011
J.K. Wall
Eli Lilly and Co. spends a lot of time these days telling the rest of the story—how well it’s doing in areas not connected to highly lucrative drugs about to see their patents expire. But for the most part, investors and analysts just want to know when the next blockbuster will be coming.
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IU Health readies bond sale

April 18, 2011
J.K. Wall
The Indianapolis-based hospital system plans to sell $228.2 million in bonds this week to refinance existing debt and pay to finish construction of its Saxony hospital in Fishers, set to open late this year.
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Lilly shares falter after quarterly earnings report

April 18, 2011
J.K. Wall
Eli Lilly and Co.’s first-quarter profit beat the expectations of Wall Street analysts, but its stock price slipped anyway Monday morning, along with the broader market.
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Charges drive down first-quarter profit at Lilly

April 18, 2011
J.K. Wall
First-quarter profit fell at Eli Lilly and Co. as the company recorded restructuring charges due to its downsizing and higher research costs as it tries to develop new drugs to help it shrug off its looming patent expirations.
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Indiana's anti-tobacco agency's first decade mixed

April 16, 2011
Associated Press
Indiana Tobacco Prevention and Cessation officials acknowledge they still have work to do in a state that in 2008 had the nation's highest smoking rate and still has more than 1 million smokers.
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FDA wants further testing of Lilly pancreas drug

April 16, 2011
Associated Press
Eli Lilly and Co. Inc. said Friday that the FDA has asked the drugmaker to conduct another clinical trial of its proposed pancreas drug before it resubmits an application to have the drug approved for sale.
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Feds: CVS to pay $17.5M over inflated Rx claims

April 15, 2011
Associated Press
The U.S. Justice Department says CVS Pharmacy Inc. has agreed to pay $17.5 million to settle allegations it overcharged Medicaid programs in 10 states, including Indiana.
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Lilly’s Bydureon wins backing of European drug panel

April 15, 2011
Bloomberg News
The drug awaits final action by the European Commission, which has the authority to approve medicines for the European Union. The Commission usually makes a decision on CHMP recommendations within two to three months.
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Disasters hammer Baldwin & Lyons—again

April 13, 2011
J.K. Wall
Indianapolis insurer Baldwin & Lyons Inc. stands to lose $15.5 million as a result of the earthquake and tsunami in Japan, as well as other disasters in Australia and New Zealand.
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Indiana panel OKs criminal checks on medical workers

April 12, 2011
Associated Press
Physicians, dentists, nurses, veterinarians, pharmacists and other medical workers would have to undergo a criminal background check when applying for a new state license under a bill approved Tuesday by an Indiana House committee.
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Executive compensation surges at CNO Financial Group

April 12, 2011
J.K. Wall
The Carmel-based life and health insurer more than doubled CEO Jim Prieur’s compensation, and also gave increases ranging from 44 percent to 89 percent to other top executives.
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Parties near deal for hospital tax

April 11, 2011
J.K. Wall
Officials from Indiana Medicaid and a hospital trade group are trying to craft a deal that would create a tax on hospitals that would help attract more federal funds for hospitals—thereby offsetting looming cuts in state payments.
More

Q&A

April 11, 2011
J.K. Wall
Dan Ferber is a freelance magazine writer in Indianapolis who writes about science, health and the environment for such publications as Science, Popular Science, New Scientist, Audubon, and Women's Health. He co-authored a new book with Harvard Medical School's Dr. Paul Epstein titled "Changing Planet, Changing Health: How the Climate Crisis Threatens Our Health and What We Can Do about It." It was published this month.
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Arcadia in danger of stock exchange delisting

April 11, 2011
Scott Olson
The Indianapolis-based health care company's stock, which trades on the NYSE Amex Equities exchange, has closed at an average price of less than 20 cents over a consecutive 30-day trading period, triggering the warning.
More

United Financial Systems slapped with lawsuit

April 9, 2011
Kathleen McLaughlin
An Indianapolis insurance brokerage disciplined for unauthorized legal practice might now face millions of dollars in claims from more than 4,000 former clients because of a class-action suit filed in Marion Superior Court.
More
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