Health Care & Life Sciences

UPDATE: Doctors nationwide victimized in ID theft fraud

May 9, 2014
Associated Press
The American Medical Association says the exact number of doctors affected by tax fraud isn't known, but hundreds of cases have been confirmed, including dozens in Indiana.
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U.S. House votes to revive expired research tax credit

May 9, 2014
Bloomberg News
The 274-131 vote follows calls to restore the credit by a coalition of companies including Indianapolis-based Eli Lilly and Co. and Texas Instruments Inc.
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Health insurers: Payment rates meeting expectations

May 7, 2014
Associated Press
Top health insurance companies told members of Congress Wednesday that more than 80 percent of people who've signed up under the president's new health care law have gone on to pay their premiums.
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Bayer’s $14.2 billion Merck buy shows pharma strategy split

May 7, 2014
Bloomberg News
Bayer AG's $14.2 billion acquisition of Merck & Co. is the latest in a series of big pharma deals and it exposes a deepening split in the way drugmakers approach their portfolios.
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Settlement seeks $100M fund for meningitis victims

May 7, 2014
Associated Press
A settlement filed with a federal bankruptcy judge would create a fund of more than $100 million to compensate victims of a nationwide meningitis outbreak linked to a Massachusetts pharmacy, lawyers said Tuesday. The outbreak sickened dozens in Indiana and killed at least 10.
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Insurers say most Obamacare enrollees paying premiums

May 6, 2014
Bloomberg News
Three large health insurers including Indianapolis-based WellPoint Inc. and Aetna Inc. say that a high percentage of their new Obamacare customers are paying their first premiums, partly undermining a Republican criticism of enrollment in the program.
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Veterans Affairs department rejects call for leader to quit

May 6, 2014
Associated Press
The Indianapolis-based American Legion, the nation's largest veterans service group, called Monday for the resignations of U.S. Veterans Affairs Secretary Eric Shinseki and two of his top aides amid an investigation into allegations of corruption and unnecessary deaths.
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Zimmer-Biomet deal could stanch their bleeding at hospitals

May 5, 2014
J.K. Wall
Hospitals, which have forced orthopedic implant makers to lower their prices in recent years, may have a harder time doing so when the combined Zimmer-Biomet controls nearly 40 percent of the market.
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IU plots $200M life sciences hub in former Wishard Hospital

May 3, 2014
Dan Human
The envisioned 26-acre, $200-million-or-more complex would bridge IU’s School of Medicine with the city’s life sciences firms, including those at the nascent 16 Tech, a business park.
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St. Vincent and Community to dissolve partnership

May 3, 2014
J.K. Wall
The Accountable Care Consortium was envisioned as a vehicle through which the hospitals would eventually funnel all of their roughly $2.5 billion in annual contracts with health insurers and employers.
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Endocyte shares plunge 60 percent after drug trial is stopped

May 2, 2014
 Bloomberg News and IBJ Staff
Endocyte Inc.'s stock fell more than 60 percent in early trading Friday after the drug it’s developing with Merck & Co.’s backing failed to help patients in a trial for ovarian cancer.
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Health IT firm hc1.com to add up to 175 Boone County jobs

May 2, 2014
 IBJ Staff
The company said it will invest $2.5 million to lease and renovate an additional 9,466 square feet to expand its current 16,626-square-foot headquarters at Northwest Technology Park.
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Indiana signups lag for federal health care law

May 1, 2014
Associated Press
Data from the U.S. Department of Health and Human Services show that a total of nearly 230,000 Indiana residents were eligible to enroll in a marketplace plan, but only about 132,000 had done so by the March 31 deadline.
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Drug prices surge as generics, niche treatments eat profit

May 1, 2014
Bloomberg News
Since 2007, the cost of brand-name medicines has jumped, with prices doubling for dozens of established drugs that target everything from multiple sclerosis to cancer, blood pressure and even erections, according to an analysis conducted for Bloomberg News.
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CEOs launch childhood obesity initiative

April 30, 2014
J.K. Wall
Jump IN for Healthy Kids has a budget of $1.5 million and hopes to identify and extend successful efforts to improve diet, activity and healthy choices among children and their families.
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WellPoint shares rise after better-than-expected quarter

April 30, 2014
Bloomberg News, J.K. Wall
The Indianapolis-based health insurer increased its profit forecast after Obamacare enrollments boosted quarterly results.
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Roche battles payment cuts while growing diagnostics business

April 28, 2014
J.K. Wall

Life Sciences Burris
                           interview Watch VideoNew tests have helped Roche Diagnostics grow its North American revenue, excluding its troubled diabetes care business, 23 percent over the past five years. But the money for diagnostic tests continues to go down in key areas, noted CFO Wayne Burris.

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Lilly trade-secret defendants released to home detention

April 28, 2014
Bloomberg News
The court noted that after the government filed a second indictment March 12, the trade-secret theft claims against Guoqing Cao and Shuyu Li were changed to wire fraud, and aiding and abetting and conspiracy to commit wire fraud.
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CNO takes big earnings hit to dispose of old business

April 28, 2014
 IBJ Staff
Excluding the cost of finally shedding a block of business from predecessor Conseco Inc., CNO's operations were on the upswing in the first quarter.
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Hospitals rethinking a la carte pricingRestricted Content

April 26, 2014
J.K. Wall
Indianapolis hospitals have begun to offer joint replacement surgeries to employers and insurers using “bundled prices.” That means, instead of billing piecemeal for each individual service and supply, the hospitals wrap everything needed from just before to just after surgery into a package deal.
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Novartis deal caps turnaround for ElancoRestricted Content

April 26, 2014
J.K. Wall
Next year, after Lilly completes its $5.4 billion acquisition of Novartis Animal Health, Elanco will contribute 17 percent of revenue—or one out of every six dollars flowing into Lilly’s coffers.
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Zimmer shares hit 13-year high on Biomet deal

April 24, 2014
Bloomberg News
The deal will help Zimmer, a maker of artificial hips and knees, take on Johnson & Johnson, the No. 1 manufacturer in the now-growing $45 billion market.
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Zimmer buying Biomet in $13.3B deal between Hoosier firms

April 24, 2014
Bloomberg News, Associated Press
Orthopedic device maker Zimmer Holdings Inc. is buying privately-held competitor Biomet Inc. in a cash-and-stock deal between the Warsaw-based companies valued at about $13.35 billion.
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Lilly's quarterly profit meets analyst expectations

April 24, 2014
Bloomberg News
The drugmaker, which is weathering patent expirations, saw sales fall more slowly than expected for its antidepressant Cymbalta.
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Investor pressure pushing drugmakers to make deals

April 23, 2014
Associated Press
Tuesday's blockbuster deal involving Indianapolis-based Eli Lilly and Co. was just the latest of several that have taken place since the beginning of the year.
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