Health Care Businesses

Financial pressures stretching Lilly

October 7, 2013
J.K. Wall
In a series of presentations, Lilly executives stretched themselves in four directions at once to convince investors and stock analysts that the company will bend but not break next year, and then snap back stronger than ever in 2015.
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Lilly, other drugmakers itching to find new psoriasis treatment

October 4, 2013
Bloomberg News
Psoriasis is linked to higher rates of heart disease and diabetes, and a third of patients also develop a form of arthritis. About 125 million people worldwide have the skin condition, including 7.5 million Americans.
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Lilly to buy back $5B as sales goal harder to reach

October 3, 2013
Bloomberg News, J.K. Wall
Eli Lilly and Co. said Thursday that meeting its sale target will be a challenge. It plans to repurchase $5 billion in shares and introduce new diabetes drugs to help navigate through patent losses. Another immediate hurdle: Obamacare.
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IU Health now says 935 jobs affected by reductions

October 2, 2013
Associated Press
Indiana University Health now says it will cut more than 900 jobs in a reorganization. That's at least 100 more than announced nearly three weeks ago.
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Lilly shares dip after cancer treatment misses goal

September 26, 2013
Associated Press
Eli Lilly said a potential breast cancer treatment missed its main goal in a late-stage study. However, the drugmaker will seek approval to use the treatment in stomach cancer patients after ramucirumab performed better in a separate study.
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Lilly bets quality over quantity will pay off in diabetes battle

September 24, 2013
Bloomberg News
Eli Lilly and Co. is counting on the quality of a diversified product portfolio over boosting its sales forces to grab a bigger slice of the $22 billion U.S. diabetes market, a difference in strategy to some of its rivals.
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Alzheimer’s targeted in $45M government study grant

September 18, 2013
Bloomberg News
Part of the funding will go to an existing study of drugs from Eli Lilly and Co. and others to see whether they can ward off the disease in people who inherited genes that predestine them to get Alzheimer's.
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Analyst foresees managed care growth in 2014

September 16, 2013
Associated Press
Major health insurers like WellPoint Inc. are in line for another year of growth, as the health care overhaul implements key elements in its push to cover millions of uninsured people.
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IU Health to lay off 800 employees

September 12, 2013
J.K. Wall
The Indianapolis-based hospital system said Thursday it must make the cuts because fewer patients have been coming to hospitals and payment rates for its services have been declining.
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Drugmakers turn up marketing efforts in diabetes market

September 10, 2013
Bloomberg News
With a half-dozen new products lined up for approval within two years, the fight to win the growing $22 billion U.S. diabetes market is expected to intensify.
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Lilly cites 'deep concerns' over China kickback allegations

August 22, 2013
Bloomberg News, Associated Press
Eli Lilly and Co. said it is investigating allegations its employees paid Chinese doctors at least $4.9 million in bribes and kickbacks to promote the sales of two diabetes drugs.
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Lilly lung cancer drug raises patient survival in trial

August 13, 2013
Bloomberg News
If approved, the drug would be a potent boost to Lilly’s product portfolio. It would also mean a critical new therapy for a cancer that’s proven difficult to treat.
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Zotec Partners plans $200 million acquisition

July 29, 2013
 IBJ Staff
Acquisition of Atlanta-based medical billing firm would zoom annual revenue at Carmel-based Zotec from $85 million to $215 million. The combined companies would employ 1,750 people.
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Lilly freezes pay for workers, executives

July 17, 2013
Bloomberg News
The pay freeze will save $400 million through 2016, said a spokesman for the Indianapolis-based company. Lilly won't give pay raises to executives, supervisors or most employees. Some bonuses will also be reduced.
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WellPoint rolls out program with cost ceilings for procedures

July 15, 2013
J.K. Wall
Under so-called reference-based benefits, insured patients would have to pay the difference between procedure prices and maximums set by their employers. Several Indiana companies are considering using the tactic.
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Health tech startup aiming for fences

July 13, 2013
J.K. Wall
Flying under the radar for much of its existence, local health tech startup hc1.com Inc. now thinks it’s ready to soar. The company, spun out last year from Zionsville-based Bostech Corp., is on pace to generate annual revenue of $10 million by year's end. And it thinks business could triple next year.
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Lilly aims potential Alzheimer’s drug at early patients

July 12, 2013
Bloomberg News
The trial of 2,100 patients, called Expedition III, will use new measures of cognitive function, such as the ability to do tasks like cooking or driving, or remembering words after a delay.
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Lilly's Lechleiter back at helm after health scare

July 8, 2013
Associated Press
Eli Lilly and Co. Chairman and CEO John Lechleiter is back to full-time work after taking a leave in May to have surgery for a dilated aorta, the company announced Monday morning.
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St. Vincent Health eliminating about 865 jobs in Indiana

June 28, 2013
J.K. Wall
It was not clear how many workers were losing their jobs in the Indianapolis area. However, people familiar with the cuts said the reductions were heavy in the administrative ranks, and many of those jobs are on the city's north side.
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Lilly’s experimental diabetes drug helps patients lose weight

June 24, 2013
Bloomberg News
Lilly’s drug, if approved, may be a significant competitor to Novo Nordisk A/S’s Victoza, which generated $1.64 billion in 2012.
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Lilly’s Zyprexa injection probed by FDA after deaths

June 18, 2013
Bloomberg News
Eli Lilly and Co.’s injectable form of the antipsychotic Zyprexa is being investigated by U.S. regulators after two patients died three to four days after receiving the drug.
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Drugmakers may face ‘pay for delay’ suits, high court rules

June 18, 2013
Bloomberg News
Drug companies like Eli Lilly and Co. can be sued for paying rivals to delay low-cost versions of popular medicines, the U.S. Supreme Court said in a decision that rewrites the rules governing the release of generic drugs.
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Lilly to take over development of diabetes drug

June 17, 2013
Associated Press
Eli Lilly and Co. will pay Canadian drug developer Transition Therapeutics Inc. at least $7 million and up to as much as $247 million to take over the development of a potential diabetes treatment.
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Lilly halts trial of experimental Alzheimers drug

June 14, 2013
The trial ended after participants showed abnormal liver biochemistry, the Indianapolis-based drugmaker said Thursday in a statement.
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Caponi to step down as St. Vincent system CEO

June 11, 2013
J.K. Wall
After overseeing 15 years of massive growth via mergers, Vince Caponi will become an executive of St. Vincent Health's parent organization.
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