Health Care & Insurance

Ex-Marcadia execs raise $1.7M to launch drug firmRestricted Content

February 15, 2014
J.K. Wall
Fritz French and Richard DiMarchi, the former leaders of Marcadia Biotech, have teamed up to launch the diabetes drug development firm Calibrium LLC.
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CNO sees higher profit, revenue in fourth quarter

February 11, 2014
 IBJ Staff
The Carmel-based insurance company reported profit of $106 million, up from $101.2 million in the same quarter of 2012.
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Another delay in health law's employer requirement

February 11, 2014
Associated Press
The Obama administration Monday granted employers another delay in a heavily criticized requirement that medium-to-larger firms cover their workers or face fines.
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Deals up, dollars down in 2013 for Indiana life sciences firms

February 10, 2014
J.K. Wall
Venture capitalists and angel investors put a combined $31.9 million into 18 life sciences companies last year, with some of the largest amounts going to Nextremity Solutions, hc1.com and FAST BioMedical.
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Mainstreet plans 24 more Indiana senior care facilities

February 7, 2014
J.K. Wall
Carmel-based developer Mainstreet Property Group announced Friday that it will open seven more health care facilities for Hoosier seniors this year and another 17 on top of that by 2016.
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IU Health, UnitedHealthcare reach end to contract dispute

February 6, 2014
J.K. Wall
The new two-year agreement gives UnitedHealthcare discounted rates retroactive to Jan. 1. Such discounts, which insurers negotiate with hospital systems, reduce prices 30 percent or more.
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Testosterone-replacement rival of Lilly's Axiron draws lawsuits

February 5, 2014
Bloomberg News
Abbott Laboratories and AbbVie Inc., the company it spun off last year, hid the dangers of using the testosterone replacement drug AndroGel, five men claim in lawsuits.
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Finding uninsured means targeting key locations

February 5, 2014
Associated Press
The uninsured aren't scattered evenly across the country: half of them live in just 116 of the nation's 3,143 counties. Federal officials are focusing on 25 key metro areas, including Indianapolis.
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CVS Caremark to stop selling tobacco products

February 5, 2014
Associated Press
The nation's second-largest drugstore chain said Wednesday that it will phase out cigarettes, cigars and chewing tobacco by Oct. 1, a move that will cost it about $2 billion in annual revenue.
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Analysts say health care law means fewer on job

February 4, 2014
Associated Press
Several million American workers will cut back their hours on the job or leave the nation's workforce entirely because of President Barack Obama's health care overhaul, congressional analysts said Tuesday.
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U.S. venture gathers drugmakers to take on major diseases

February 4, 2014
Bloomberg News
Eli Lilly and Co., Pfizer Inc. and eight other large drugmakers will partner with the U.S. government in a $230 million effort to identify new approaches to treat Alzheimer’s, diabetes, lupus and arthritis.
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Lilly’s path to redemption: Turn new drugs into sales

February 3, 2014
J.K. Wall
This year will be ugly for Eli Lilly and Co., after the recent loss of two blockbusters, but it also gives Lilly an opportunity it hasn’t really had for nearly a decade: grow sales and profit by launching new drugs.
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Testosterone drugs under FDA review for heart-attack risk

February 3, 2014
Bloomberg News
Testosterone drugs, which make up a growing market for pharmaceutical companies such as Eli Lilly, are getting a closer look from U.S. regulators.
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Pain mounts for Telamon after reporting $5M theft

February 1, 2014
Greg Andrews
The Carmel company complains that its  insurers “denied all coverage for the theft-fraud loss under both policies on the grounds that the individual leased to Telamon was an ‘employee’ of Telamon, and simultaneously was not an ‘employee’ of Telamon.”
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Rival's lawsuit could delay launch of new Lilly insulin

January 31, 2014
J.K. Wall
Paris-based Sanofi sued Eli Lilly and Co. on Thursday for patent infringement. That suit triggers an automatic 30-month delay on Lilly’s plans to launch a similar version of Sanofi's once-a-day insulin Lantus.
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Lilly tops estimates despite shrinking Cymbalta sales

January 30, 2014
Bloomberg News
The Indianapolis drugmaker said gains in other products offset declines for its top drug Cymbalta, which lost patent protection in December. Overall, sales slipped 2 percent, to $5.8 billion.
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Indianapolis businessman indicted for health care fraud

January 29, 2014
J.K. Wall
Ronald Reed, the owner of Benchmark Mobility Corp., allegedly billed the Medicaid and Medicare programs for used wheelchairs, scooters and lift chairs as if they were brand new, obtaining nearly $443,000 in fraudulent sales.
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WellPoint's profit skids, but meets analysts' expectations

January 29, 2014
J.K. Wall and The Associated Press
Higher expenses and charges related to the sale of its 1-800-Contacts subsidiary to a private equity firm pushed WellPoint's earnings down 68 percent in the fourth quarter.
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Panel delays vote on bill to require prescription for cold meds

January 27, 2014
Ryanne Wise, The Statehouse File
A committee heard two hours of testimony Monday on a bill that would make medicine containing pseudoephedrine a schedule III drug. The committee did not vote.
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New tiered network trips up IU Health, UnitedHealthcare talks

January 27, 2014
J.K. Wall
In spite of offers to strike a short-term extension, UnitedHealthcare and Indiana University Health are still hung up in contract negotiations on one key point: Minnesota-based UnitedHealthcare wants to create a multi-tiered network of providers and services that would offer the lowest co-pays and deductibles for favored hospital systems—which IU Health is not.
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Lilly said to be willing to pay $3.7B for biotech firm

January 27, 2014
J.K. Wall
A newspaper says Eli Lilly and Co. is a leading contender to acquire a Massachusetts-based biotech company with a troubled leukemia drug.
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View of health rollout improves, but only slightly

January 27, 2014
Associated Press
Negative perceptions of the health care rollout have eased, a new poll finds. But overall, two-thirds of Americans say things still aren't going well.
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Biological drug bill advances to full Senate

January 23, 2014
Allie Nash, The Statehouse File
The Indiana Senate is set to consider legislation that could give patients access to more options for drug treatments that derive from biological organisms.
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Hospital uncertainty prompts 350 job cuts at Hill-Rom

January 23, 2014
J.K. Wall
Hill-Rom Holdings Inc. will eliminate about 350 jobs over the next two years as a cost-saving move after the maker of hospital equipment saw its profit grow slower than expected.
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Reorganization leaves Methodist Hospital prez without job

January 23, 2014
J.K. Wall
Jim Terwilliger had led IU Health's two flagship hospitals since July 2012, when longtime executive Sam Odle retired. The CEO of Riley Hospital for Children will replace him temporarily.
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