Health Care & Life Sciences

Lilly, others cut U.S. tax bills through transfer pricing

May 14, 2010
Bloomberg News
U.S. companies, including Eli Lilly, amassed at least $1 trillion in foreign profits not taxed in the U.S. as of the end of last year. That cumulative total increased 70 percent over three years.
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Study: Quality, costs better at big practices

May 12, 2010
J.K. Wall
As physician mergers increase in Indianapolis, a new study has determined that quality at large, multispecialty practices is at least 5 percent higher and costs are 3.6 percent lower than at small group practices.
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Lilly still waiting on once-weekly Byetta

May 12, 2010
J.K. Wall
The U.S. Food and Drug Administration last week pushed its self-declared deadline for rendering an approval decision on the drug Bydureon to Oct. 22. The previous deadline was in March.
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Q&A

May 12, 2010
J.K. Wall
Joe Guzman is a co-founder of Indianapolis-based Ascend USA, the new trade adopted after Guzman merged his benefits brokerage, Benefits Strategies Inc., with benefits business Steven Goodin. The eight-person firm expects to hire as many 15 new employees in the next year. Those workers will help Ascend diversify from health benefits into brokering commercial insurance products.
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Shareholders overwhelmingly OK Conseco name change

May 11, 2010
J.K. Wall
Carmel-based life and health insurer is now CNO Financial Group Inc. to reflect what company officers call a "transformation" of the once-troubled firm.
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Report: WellPoint, Aetna may need relief from cost mandate

May 11, 2010
Bloomberg News
The U.S. health overhaul’s mandate that insurers spend 80 percent of premiums on medical care may need to be loosened to keep companies from quitting the market for people who buy coverage on their own, state regulators said.
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WellPoint, others may need relief from law's spending mandate

May 10, 2010
Bloomberg News
The health law passed by Congress in March will force insurers like WellPoint to give rebates to customers next year if the companies don't meet the medical-spending minimums.
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Braly, Obama spar again over WellPoint cancellation policies

May 10, 2010
J.K. Wall
CEO of Indianapolis-based health insurer wrote to Obama on Sunday to rebut the president's criticism that WellPoint seeks out breast cancer patients to cancel their policies.
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Wishard Hospital project is life blood to contractors

May 8, 2010
Scott Olson
Replacing the existing Wishard Memorial Hospital is so critical to the well-being of the sickly construction sector that one industry official likens the project to a "lifeline."
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Glick Eye Institute designed to mesh architectural styles, ophthalmology researchers

May 8, 2010
Norm Heikens
The new home for the Eugene and Marilyn Glick Eye Institute that’s rising from the ground at IUPUI must do a lot of things well.
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TAYLOR: Reform will drive demand for health care facilities

May 8, 2010
Deeni Taylor
There has been a noticeable uptick in the level of health care real estate development activity this year.
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Judge rejects controversial Guidant plea agreement

May 8, 2010
Greg Andrews
The deal included a $296 million criminal fine, but no charges against executives who failed to properly report problems with the company's defibrillators.
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Lilly hopes Elanco unit becomes a cash cow

May 8, 2010
J.K. Wall
Elanco Animal Health chief Jeff Simmons predicts that consumers will opt for food made cheaper by using Elanco's productivity-enhancing drugs over pricier organic and locally grown products. But, as a hedge, he has Elanco developing products to help organic farmers, too.
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Indiana's growth in life sciences jobs beats national average

May 8, 2010
 IBJ Staff
Bloomington led the nation as the No. 1 small city in medical devices and equipment.
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Latest Lilly job cuts target marketing employees

May 7, 2010
J.K. Wall
Indianapolis-based drugmaker Eli Lilly and Co. is on course to cut 5,500 jobs by the end of 2011 in a bid to eliminate $1 billion in annual expenses.
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Masonic Home plans $8M assisted-living center in Franklin

May 6, 2010
Groundbreaking will be held May 16 to mark start of construction on center to be built on 300-acre campus.
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Marketing experts: Clarian will get boost from IU name

May 5, 2010
J.K. Wall
The Indianapolis-based hospital system, which has 16 hospitals as far afield as LaPorte, Hartford City and Paoli, can now associate with all its facilities the name of the school that trains the majority of doctors and nurses throughout the state.
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Lilly sues to block copy of Evista osteoporosis drug

May 5, 2010
Bloomberg News
Watson Pharmaceuticals filed for FDA approval to sell a low-cost version of Eli Lilly and Co.'s osteoporosis medicine. Indianapolis-based Lilly is seeking a court order that would block approval until three of its patents expire in 2017.
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New federal funds come with big goals

May 5, 2010
J.K. Wall
Indiana has now received nearly $50 million in federal bucks to digitize health care around the state. But the latest grant—$16 million to the Indiana Health Information Exchange—comes with specific, ambitious goals for health care providers.
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Clarian hospital system to adopt IU name

May 5, 2010
J.K. Wall
Clarian will become Indiana University Health early next year in a bet the IU brand carries more punch statewide and nationally.
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Central Indiana gets $16M in health IT stimulus

May 4, 2010
 IBJ Staff and Bloomberg News
The central Indiana area has been selected as one of 15 communities that will share in $220 million worth of grants for pilot projects to test health-care information technology.
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Startup sees big potential for 'ouchless' medical testsRestricted Content

May 1, 2010
J.K. Wall
Companion Diagnostics wants to detect early warning signs of chronic diseases.
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Closing of Purdue's Chao Center is setback for BioCrossroads

May 1, 2010
J.K. Wall
The university is hoping to find a private company to take over the 5-year-old facility, which formulated and manufactured small batches of drugs used in clinical trials.
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Wishard Foundation appoints new leader

April 30, 2010
Ernest Vargo II's Vargo's top priority will be guiding the foundation's $50 million capital campaign for the construction of the new, $754 million Wishard Hospital.
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Anthem Blue Cross withdraws big California rate hike

April 29, 2010
Associated Press
Anthem Blue Cross withdrew plans to raise health insurance rates for Californians by as much as 39 percent after an independent audit determined the company's justification for raising premiums was based on flawed data.
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  1. I'm a CPA who works with a wide range of companies (through my firm K.B.Parrish & Co.); however, we work with quite a few car dealerships, so I'm fairly interested in Fatwin (mentioned in the article). Does anyone have much information on that, or a link to such information? Thanks.

  2. Historically high long-term unemployment, unprecedented labor market slack and the loss of human capital should not be accepted as "the economy at work [and] what is supposed to happen" and is certainly not raising wages in Indiana. See Chicago Fed Reserve: goo.gl/IJ4JhQ Also, here's our research on Work Sharing and our support testimony at yesterday's hearing: goo.gl/NhC9W4

  3. I am always curious why teachers don't believe in accountability. It's the only profession in the world that things they are better than everyone else. It's really a shame.

  4. It's not often in Indiana that people from both major political parties and from both labor and business groups come together to endorse a proposal. I really think this is going to help create a more flexible labor force, which is what businesses claim to need, while also reducing outright layoffs, and mitigating the impact of salary/wage reductions, both of which have been highlighted as important issues affecting Hoosier workers. Like many other public policies, I'm sure that this one will, over time, be tweaked and changed as needed to meet Indiana's needs. But when you have such broad agreement, why not give this a try?

  5. I could not agree more with Ben's statement. Every time I look at my unemployment insurance rate, "irritated" hardly describes my sentiment. We are talking about a surplus of funds, and possibly refunding that, why, so we can say we did it and get a notch in our political belt? This is real money, to real companies, large and small. The impact is felt across the board; in the spending of the company, the hiring (or lack thereof due to higher insurance costs), as well as in the personal spending of the owners of a smaller company.

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