Life Science & Biotech

Lilly makes $300M deal for Philadelphia drug company

November 8, 2010
J.K. Wall
Eli Lilly said it will acquire Avid Radiopharmaceuticals, maker of an experimental agent that could help identify patients with Alzheimer's disease. The price could climb to $800 million if the agent is commercially successful.
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Indiana life sciences upstarts tap health reform booty

November 6, 2010
 IBJ Staff
The federal legislation is roundly criticized at a BioCrossroads meeting, but some firms have found a silver lining.
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Seeking growth, Lilly dumps Singapore for China

November 3, 2010
J.K. Wall
After recently deciding to close a research center in Singapore, Indianapolis-based Eli Lilly and Co. has decided to open a diabetes research center in China in the second half of 2011, further ramping up the drugmaker's presence in the world's fastest-growing pharmaceutical market.
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Lilly to open diabetes research center in China

November 2, 2010
 IBJ Staff
Indianapolis-based Eli Lilly and Co. plans to open a diabetes research center in China, the drugmaker said Tuesday, citing the high incidence of the disease there.
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Indiana's life sciences industry sees trouble ahead

October 30, 2010
Associated Press
Indiana's life sciences industry has weathered the recession relatively well, but Eli Lilly's struggles and tight capital markets could threaten the future.
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BioCrossroads helping laid-off life sciences workers land safely

October 30, 2010
Chris O'Malley
Indiana firms have dismissed more than 1,400 life science workers over the last two years. Now BioCrossroads has launched a website that aims to keep that talent in the state.
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Former IU tech-transfer chief: State isn't competitive enoughRestricted Content

October 30, 2010
Norm Heikens
Mark Long was president of the Indiana University Research & Technology Corp., which was responsible for the university’s tech transfer, before launching a consulting firm, Long Performance Advisors, in 2008.
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Eli Lilly will have to beat odds to meet drug-rollout goals

October 30, 2010
J.K. Wall
Eli Lilly and Co. executives have said repeatedly that the company’s bulging pipeline will produce two new drugs per year, beginning in 2013. But only three times in the past six decades has Lilly been able to launch two or more new drugs in back-to-back years.
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Indiana life sciences sector copes with shrinking VC poolRestricted Content

October 30, 2010
Chris O\'malley
Venture funds nationwide crested at $100 billion in 2000, but that number last year had drooped to $18 billion.
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Dow Agro sales climb, but profit suffers

October 28, 2010
 IBJ Staff and Bloomberg News
Indianapolis-based Dow AgroSciences improved revenue during the third quarter thanks to a 26-percent increase in volume, but it still recorded a loss for the period.
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Q&A

October 20, 2010
J.K. Wall

Amy Zucker is president of Indianapolis-based Synergy Marketing Group. Her firm was recently hired by Indianapolis-based ImmuneWorks Inc. to use a new website and search engine optimization to help recruit patients for a Phase 1 trial of ImmuneWorks experimental medicine idiopathic pulmonary fibrosis. The Web strategy is a new wrinkle on patient recruitment—in addition to the traditional partnerships with disease specialists at academic medical centers—that Zucker hopes leads to lower costs and faster clinical trials. Phase 1 clinical trials cost nearly $16,000 per patient.

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FDA demands more tests on new Lilly diabetes drug

October 19, 2010
J.K. Wall
Eli Lilly and Co. will have to wait at least 18 months and conduct more studies before it wins market approval of a once-weekly version of diabetes drug Byetta, a potential billion-dollar drug.
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Prosolia Inc. restructures top management

October 16, 2010
 IBJ Staff
The company, which develops mass spectrometry devices used in the life sciences and industrial chemistry, has a new CEO, among other changes.
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Biomet sales rise, but slower than expected

October 13, 2010
Associated Press
Biomet's quarterly results are considered an indicator on the state of the orthopedic device industry because it reports results before most of its competitors.
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Lilly's Erbitux shows mixed results in cancer studies

October 11, 2010
Bloomberg News
In combination with chemotherapy, the drug failed to help colon-cancer patients in a European trial but did delay the spread of breast cancer in some patients with a certain type of aggressive tumor.
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Beckman Coulter plans $18.2M expansion, 100 new jobs

October 8, 2010
 IBJ Staff
California-based life sciences firm Beckman Coulter Inc. is planning its third local expansion since 2007, investing $18.2 million in its Indianapolis operation and adding as many as 95 jobs here in the next three years.
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Community moves to integrate doctors

September 15, 2010
J.K. Wall
Health Care watch videoCommunity Health now has about 550 physicians, either on its payroll or committed through integration contracts, who have some of their pay hinge on measures of quality and communication. CEO Bryan Mills says the hospital system is looking to add even more.
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Dow Agro acquires Colorado seed company

September 2, 2010
 IBJ Staff
Grand Valley Hybrids has been growing and conditioning hybrid seed corn in the West since 1946.
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Appeals court ruling upholds Lilly's Evista patents

September 1, 2010
Bloomberg News
Eli Lilly and Co. won a court ruling Wednesday that blocks plans by Teva Pharmaceutical Industries Ltd. to sell a generic version of the Evista osteoporosis treatment before March 2014.
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Local economic espionage case full of intrigue

September 1, 2010
Cory Schouten
The government's allegations read like a spy novel: Dr. Ke-xue "John" Huang lands a job at Indianapolis-based Dow AgroSciences and over five years works himself into a position of trust, with access to trade secrets and processes the company has invested $300 million to develop.
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Ex-Dow Agro scientist's espionage indictment unsealed

August 31, 2010
 IBJ Staff
A federal indictment unsealed Tuesday in Indianapolis charged 45-year-old Ke-xue "John" Huang with theft and attempted theft of trade secrets to benefit a foreign government.
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Endocyte's $86M IPO plan a boon for Indiana, investors

August 28, 2010
Greg Andrews
Venture capitalists in Indiana and nationally have thrown money at the company with abandon. Local investors include CID Capital, Clarian Health Ventures and the Indiana Future Fund.
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Cancer drug developer Endocyte files for IPO

August 18, 2010
Scott Olson
The company, headquartered at Purdue Research Park, said the number of shares to be offered and their price range have yet to be determined.
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Biomet investing $26M to expand, create nearly 280 jobs

August 13, 2010
 IBJ Staff
Orthopedics giant Biomet Inc. plans to invest $26 million to grow operations in its hometown of Warsaw, adding 278 jobs by the end of 2012.
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Indiana universities offer cash incentives for technology transfer

August 7, 2010
 IBJ Staff
The Indiana Clinical and Translational Sciences Institute awarded $750,000 to 10 teams of researchers.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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