Health Care & Life Sciences

Lilly reorganization to cut 5,500 positions over 2 years

September 14, 2009
J.K. Wall
Eli Lilly and Co. will cut 5,500 jobs by the end of 2011 as it tries to cut $1 billion in expenses before it loses revenue from its bestselling drug, Zyprexa. Lilly CEO John Lechleiter said he did not know how many of those cuts would occur in central Indiana. But with 13,600 employees working in the Indianapolis area, he acknowledged the largest chunk of reductions likely would come here.
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Local health care industry tries to capitalize on migraine headaches

September 12, 2009
J.K. Wall
Migraines cost American employers $20 billion a year in decreased worker productivity. Such a frequent and uncured disease stands as a huge business opportunity for the health care industry, including locally based pharmaceutical giant Eli Lilly and Co.
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Benefits brokers fear impact of health insurance exchangesRestricted Content

September 12, 2009
J.K. Wall
If Congress implements a new system of health insurance exchanges across the country, Indianapolis benefits broker Joe Guzman is confident he and his peers would take a hit.
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Study weakens Lilly's fight against price controls

September 12, 2009
 IBJ Staff
Eli Lilly and Co. and its peers might be back in Congress’ sights as lawmakers hunt for more ways to cut health care costs. A new study in the influential Health Affairs journal concludes that European drugmakers operating in markets with pharmaceutical price controls have produced proportionally more innovations than their U.S. counterparts.
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WellPoint insiders sell stock at right time

September 12, 2009
 IBJ Staff
Take the money while it’s there. That’s what a handful of insiders at WellPoint Inc. decided in the past month as they sold off nearly 150,000 company shares for gains of more than $3 million.
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Policyholders could pay more under Obama health plan

September 11, 2009
Associated Press
If President Barack Obama gets what he wants in his health care plan — covering all Americans and barring insurers from denying coverage — some analysts say individuals could wind up paying higher premiums.
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Sanctions lifted, WellPoint returns to Medicare biz

September 10, 2009
J.K. Wall
Nine months after being suspended as a contractor for the federal Medicare program, WellPoint Inc. is back in the game.
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Medical device developer receives $1M in federal funding

September 10, 2009
Scott Olson
Indianapolis-based FAST Diagnostics, a developer of a method to quickly measure kidney function, announced today that it has received $1 million in federal funding.
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BioCrossroads rolls out orthopedic initiative

September 10, 2009
J.K. Wall
With job growth surging in Warsaw's orthopedic cluster, the life sciences development group BioCrossroads Inc. set out to...
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Lilly paid doctors to prescribe Zyprexa, notes say

September 8, 2009
 IBJ Staff
Eli Lilly and Co. paid doctors in South Carolina for participating in a speakers' program in exchange for prescribing the antipsychotic Zyprexa, according to notes by Lilly sales representatives reviewed by Bloomberg News.
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Sweetener company Heartland looks for openings in crowded fieldRestricted Content

September 5, 2009
Kathleen McLaughlin
Heartland Sweeteners LLC is now a top maker of private-label alternatives to Splenda. The company also markets its own products directly to consumers.
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Hall-Render co-founder returns to law firm

September 5, 2009
 IBJ Staff
A co-founder of Hall Render Killian Heath & Lyman PC is returning to the downtown law firm more than a decade after he left it. Rex Killian will lead the firm’s governance consulting practice, which serves both not-for-profit and for-profit health care clients.
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Oak Street Funding raises $50 million in new capital

September 5, 2009
 IBJ Staff
German group invests in Carmel-based company that specializes in financial services for insurance agencies.
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Health information exchanges begin sharing medical records

September 3, 2009
 IBJ Staff
The Indianapolis-based Indiana Health Information Exchange today began sharing electronic medical records with two similar organizations across a multi-regional network, the group announced this morning.
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Conseco consolidation to save $2.5M a year

August 31, 2009
 IBJ Staff
Conseco Inc. this morning said it is consolidating three of its insurers into one, a move that will have no impact on employment but will save the company about $2.5 million annually.
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Anthem, St. Francis reach agreement in principle

August 29, 2009
 IBJ Staff
The St. Francis hospital system has reached a tentative contract agreement with Anthem Blue Cross and Blue Shield of Indiana, ending a disagreement over insurance reimbursement costs, the parties said today.
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Exiting AgroSciences chief shook up strategy, cultureRestricted Content

August 29, 2009
Greg Andrews
Jerome Peribere shifted Dow AgroScience’s focus toward what he calls “revolutionary solutions."
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Venture firms recapitalize Advanced Physical Therapy LLC

August 29, 2009
 IBJ Staff
Locally based venture capital firms Cardinal Equity Partners and Centerfield Capital Partners have joined with Chicago-based bank Harris NA to recapitalize the state’s largest independent physical therapy provider.
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Monarch program persuades young, male workers to care about their healthRestricted Content

August 24, 2009
Marc D. Allan
Indianapolis-based Monarch Beverage is among hundreds of central Indiana companies that have introduced wellness programs to counteract the rising costs of health insurance and Worker’s Compensation.
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Health reform breaking WellPoint's way so farRestricted Content

August 24, 2009
J.K. Wall
With the Obama administration backing away from a government-run, "public" plan, the insurance industry faces a much smaller threat in the form of privately run insurance co-ops.

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My Health Care Manager looks to grow fastRestricted Content

August 24, 2009
J.K. Wall
Indianapolis-based startup My Health Care Manager has signed an agreement with Indianapolis-based WellPoint Inc. that will eventually put My Health Care Manager’s elder care service in front of the health insurer’s thousands of employer clients and their workers around the country.
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AIT Laboratories leaps up Inc.'s list

August 24, 2009
 IBJ Staff
The Indianapolis-based forensics, clinical and pharmaceutical testing firm now ranks 598, up from 1,466 a year ago. The list is based on percentage of revenue growth.
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INpact Medical Device Network matches start-ups with service providersRestricted Content

August 24, 2009
Chris O'Malley
Industry groups in the life sciences, medical and information technology realms have helped lure companies to the region and foster upstarts. Funding is almost always an issue, but it’s not the only barrier. Getting medical devices to market often requires product design, development and marketing resources that aren’t always apparent to upstarts.
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Docs offer varied cures for ailing health care systemRestricted Content

August 24, 2009
J.K. Wall
Indianapolis physicians are mixed on the merits of a government-run, "public" health insurance plan. How reforms might affect their pay is another major concern.
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Lennen, Ledyard named hospital presidents

August 21, 2009
 IBJ Staff
Community Health Network has chosen Anthony Lennen as president of Community Hospital South and Dr. Robin Ledyard as president of Community Hospital East, the health care system announced this morning.
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