Life Science & Biotech

Med school plots researcher hiring spree

July 26, 2014
J.K. Wall
The Indiana University School of Medicine plans to hire 100 research professors over the next five years in a bid to vault into the top 25 medical schools.
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Lilly sales, profit drop but beat analysts' expectations

July 24, 2014
J.K. Wall
Indianapolis-based Lilly and Co. lost 17 percent of its revenue during the second quarter as U.S. patents expired on its bestselling drugs Cymbalta and Evista.
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Dow Agro reports record second-quarter sales

July 23, 2014
 Bloomberg News and IBJ Staff
Dow AgroSciences LLC posted sales of $1.9 billion in the second quarter, an increase of 3 percent over last year's second period, the Indianapolis-based company reported Wednesday morning.
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Report: Indiana boasts four nation-leading life sciences clusters

June 30, 2014
J.K. Wall
The areas around each of Indiana’s research university campuses—Bloomington, Indianapolis, Lafayette and South Bend—all boast outsize concentration of life sciences workers. Yet the state still lags on research, development and investment funding.
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Merck's exit pushes Endocyte shares lower

June 18, 2014
 IBJ Staff
Shares of Endocyte Inc. skidded 15 percent Wednesday after industry giant Merck & Co. Inc. decided it would give up on developing Endocyte cancer drug vintafolide.
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Medtronic to acquire device maker Covidien for $42.9B

June 16, 2014
Bloomberg News
Medtronic Inc., the second-largest maker of medical devices, will be based in Ireland after the acquisition for tax advantages.
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Sale ends 83-year run for Indy’s Harlan Laboratories

June 14, 2014
Greg Andrews
Whether the merger of the former rivals is good for Indianapolis will play out in the coming months. Huntingdon has 1,200 employees, most of them in the United Kingdom and Princeton, N.J. Harlan has about 2,300 employees worldwide, including 300 locally.
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Former Riley Hospital CEO Pescovitz to join Eli Lilly

June 11, 2014
J.K. Wall
Dr. Ora Pescovitz is returning to Indianapolis after spending the past five years as CEO of the University of Michigan Health System.
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Lab software firm raises $8.5M, names new CEO

June 9, 2014
Dan Human
A San Diego venture capital firm has made a big bet on Indigo BioSystems Inc., which just installed its founder as the new chief executive.
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Isotope maker plans $40M project in Noblesville

May 28, 2014
Andrea Muirragui Davis
Radiopharmaceuticals maker Zevacor Molecular plans to open a $40 million isotope-production facility in Noblesville, creating nearly 50 good-paying jobs within five years.
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Drugmaker hid diabetes drug’s cancer risks, lawyer says

May 19, 2014
Bloomberg News
Takeda Pharmaceutical Co. executives covered up the cancer risks of its diabetes medicine Actos to protect billions of dollars in sales, a lawyer for two women argued.
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Algaeon to take big step after landing $2.75M

May 12, 2014
Dan Human
An Indianapolis-based biotech company plans to use $2.75 million in new funding to begin commercial production of its algae-based nutritional supplements, the firm announced Monday.
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Life sciences critical mass elusive in Indiana after years of effortRestricted Content

May 10, 2014
J.K. Wall
Attempts to build the sector are making headway, but Indiana still lags leading states.
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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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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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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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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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Dow AgroSciences reports record quarterly results

April 23, 2014
 IBJ Staff and Bloomberg News
The Indianapolis-based subsidiary of the country's largest chemical maker achieved all-time highs in revenue and earnings in the first quarter.
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Blockbuster deal: Eli Lilly paying $5.4B for Novartis Animal Health

April 22, 2014
 IBJ Staff
Eli Lilly and Co. has agreed to pay $5.4 billion for Novartis Animal Health in the second-largest deal in the company's history. The acquisition is part of a blockbuster three-way drug deal.
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Lilly wins approval for potential blockbuster drug

April 21, 2014
Bloomberg News
The Indianapolis-based pharmaceutical maker gets a much-needed boost with FDA approval for gastric-cancer drug ramucirumab, which quickly could account for $1 billion in annual sales.
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Endocyte raises another $100M in stock offering

April 7, 2014
J.K. Wall
Another public stock offering by the West Lafayette-based drugmaker swells its war chest for cancer drug development to $225 million.
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Dow Agro parent sets stage for sale or spinoffRestricted Content

March 29, 2014
J.K. Wall
Dow AgroSciences LLC is likely to become a stand-alone public company in the next three years, according to some Wall Street analysts—if the wunderkind division of Dow Chemical Co. lives up to sky-high expectations.
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Endocyte stock doubles after key approval in Europe

March 21, 2014
Bloomberg News, J.K. Wall
The stock price of Endocyte Inc. skyrocketed by as much as 130 percent Friday morning after the drug company got a thumbs up in Europe to market its first drug and received a new round of favorable clinical trial results.
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Dow Agro CEO retiring as divesture speculation returns

March 21, 2014
 Bloomberg News and IBJ Staff
Dow AgroSciences is getting a new chief, the company said Friday. Meanwhile, the CEO of parent company Dow Chemical says Dow Agro could be sold off in a year or two.
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Biomet plans $40.5 million upgrade, 150 jobs

March 16, 2014
Associated Press
Biomet's project calls for building renovations and adding 3-D printing and optical scanning technology. The Warsaw-based company would also upgrade an incubation center for surgeons interested in introducing a new product, technology or technique.
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