Health Care & Life Sciences

Health reform dings Lilly's earnings

April 19, 2010
J.K. Wall
The Indianapolis-based drugmaker also lowered its forecast for full-year profits because the new health care law grants bigger rebates on prescription drugs to federal health insurance programs.
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Clarian plans $375M hospital tower at Methodist

April 17, 2010
J.K. Wall
Clarian Health is planning to build a bed tower at Methodist Hospital in a massive project that shows renewed commitment to the downtown campus. The tower would have 175 to 250 beds and allow Methodist to make all its rooms private.
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Can Lilly afford to maintain its dividend?Restricted Content

April 17, 2010
J.K. Wall
As shareholders gather April 19 for Eli Lilly and Co.'s annual meeting, more of them than ever will come with an unusual question: Will Lilly be able to keep paying its dividend?
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Struggling firms stash away losses to cut future taxesRestricted Content

April 17, 2010
Peter Schnitzler
Conseco expects its write-offs will be worth more than $800 million over the next 20 years.
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Rockefeller: Insurers don't spend enough on medical care

April 15, 2010
Bloomberg News
Indianapolis-based WellPoint “reclassified” more than half a billion dollars of administrative expenses as medical expenses when it was defining its medical-loss ratio, according to a report released by U.S. Senator Jay Rockefeller’s office.
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Study: Ditch reform, add public option

April 14, 2010
J.K. Wall
In poll after poll, calls for repealing the new health insurance law get strong support. But if the law were repealed, an Indiana University survey released this week shows that Americans want a surprising thing in its place: a public option.
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Q&A: Jim Parker

April 14, 2010
J.K. Wall
Jim Parker was an executive at Anthem Blue Cross and Blue Shield and WellPoint for 14 years, including a year and a half as chief of staff to CEO Angela Braly. He now is president of his own consulting firm, Meridian Strategic Advisors, in Indianapolis. He spoke about the impact of the new health reform law on health insurers.
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Employers want cake, and to eat it, too

April 13, 2010
J.K. Wall
Employers are still trying to get their arms around what the new health insurance law will mean for them. But on the eve of the law's passage last month, a survey by Indianapolis-based United Benefit Advisors LLC showed employers as a group had no hope the law would reduce their costs but also no coherent plan for reforming the current system.
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WellPoint, UnitedHealth, grapple with medical-cost mandate

April 13, 2010
Bloomberg News
A U.S. mandate forcing insurers led by UnitedHealth Group Inc. and WellPoint Inc. to spend 85 percent of revenue from premiums on medical care is the newest front in the battle between the Obama administration and companies over industry profits.
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Purdue secures $15M to expand cancer research building

April 12, 2010
J.K. Wall
Stimulus dollars from the National Institutes of Health expected to spark 30 to 40 new research jobs by 2013.
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Hilbert in-law's insurance fraud trial set for October

April 12, 2010
Peter Schnitzler
As IBJ reported last year, Houston-based American General Life Insurance Company is attempting to invalidate a $15 million policy it issued in January 2006 insuring the life of Germaine “Suzy” Tomlinson—Conseco Inc. co-founder Stephen Hilbert’s mother-in-law—who died Sept. 28, 2008, at age 74.
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Lilly sets date for move from Faris campus downtown

April 12, 2010
Work force reductions, new business structure make leased office space unnecessary. Moves will begin in late June.
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Nursing home association facing big debtRestricted Content

April 10, 2010
J.K. Wall
The Indiana Health Care Association is looking for a new leader even as it tries to dig out of a pile of debt. Current President Steve Smith, whose contract expires Nov. 30, says he's put the organization on a path to be financially stable by 2012. But his predecessor says Smith has ruined a once-strong organization.
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Lilly diabetes drug may have cancer risk, FDA says

April 9, 2010
 IBJ Staff and Bloomberg News
Once-weekly form of Byetta is awaiting the FDA's OK. Analyst predict the new version of the drug, if approved, could rack up sales of $2 billion annually.
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Louisiana gets $20M in Lilly drug settlement

April 7, 2010
Associated Press
Louisiana was one of 13 states that filed individual suits in state courts over allegations that Lilly pushed Zyprexa for uses that had not been approved by federal regulators.
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Hospitals stand to gain big by hiring docs

April 7, 2010
To understand why hospitals are so eager to employ physicians—and prevent them from owning their own facilities—look no further than the latest data on how much doctors are paid compared with how much revenue they generate for hospitals.
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Members: Anthem health plans subpar

April 7, 2010
J.K. Wall
Anthem Blue Cross and Blue Shield of Indiana fell slightly below average for customer satisfaction among scores of health plans, according to a new survey by California-based J.D. Power & Associates.
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Medical oxygen plant in Plainfield closing; 130 to lose jobs

April 6, 2010
Relocating operations to an existing plant in Canton, Ga., will result in the loss of 130 jobs.
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Shareholder group wants WellPoint to become not-for-profit

April 6, 2010
J.K. Wall
Proposal at annual meeting will ask health insurer to study feasibility of converting to not-for-profit status.
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Volunteers in Medicine fill need as boomers retire

April 3, 2010
Marc D. Allan
Not-for-profit sees increasing numbers of patients, but can't plug the entire gap to be created by health care retirements.
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Spine center offering quick care for painRestricted Content

April 3, 2010
Scott Olson
An Indianapolis doctors' office has started an offshoot practice that specializes in quickly seeing patients with severe back pain.
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IU study suggests that money does matter to doctors

April 3, 2010
 IBJ Staff
Patients seen at private facilities reimbursed by Medicare were 5-1/2 times more likely to receive routine cataract surgery than patients at Veterans Affairs facilities, according to a new study.
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Compensation for WellPoint's Braly rises 51 percent

April 2, 2010
Associated Press
Stock options, bonus fuels CEO's pay.
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Conseco trims CEO's pay but gives exec team raises

April 2, 2010
Peter Schnitzler
James Prieur's total compensation fell 5 percent last year to $3.3 million, but other Conseco executives saw pay hikes between 25 percent and 54 percent.
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Lilly wins court ban on generic copy of Gemzar

April 1, 2010
Bloomberg News, Associated Press
Eli Lilly and Co. won a U.S. court ruling Wednesday that bars Teva Pharmaceutical Industries Ltd. from selling a generic version of the cancer drug Gemzar until November.
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