Life Science & Biotech

Indiana life sciences companies rethink innovationRestricted Content

July 28, 2012
J.K. Wall
Research and development comes under pressure in an age of austerity.
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Indiana Blood Center tapping new vein of revenueRestricted Content

July 28, 2012
Mason King
Group sees role in cellular therapy as growth area with profit margins higher than core business.
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Life Sciences Power Breakfast - transcript

July 28, 2012
Life sciences leaders discuss topics ranging from accomplishments to initial public offerings and the nature of innovation at the July 25 event.
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Cook Medical shelves Midwest expansion plans

July 27, 2012
J.K. Wall
Life Sciences Cook Yonkman watch videoCook Medical Inc. had been planning to open five new manufacturing plants over the next five years in small communities around the Midwest, including Indiana, but has shelved those plans because of the hit it will take from a new U.S. tax on medical devices.
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Dow Agro sales surge to record in second quarter

July 26, 2012
The Indianapolis-based division of Dow Chemical Co. posted record second quarter sales of $1.7 billion, up 12 percent from the year-ago period, due to a small increase in prices and the introduction of new products.
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Bioanalytical taps accountant for turnaround

July 9, 2012
J.K. Wall
With spending running well ahead of revenue, West Lafayette-based Bioanalytical Systems Inc. ousts its CEO in favor of its CFO.
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Life sciences hold up in recession

June 25, 2012
J.K. Wall
A new report shows Indiana’s life sciences companies performed better than their peers around the country—and far better than the rest of Indiana’s private sector—during the early phases of the economic downturn.
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Biomet gives ortho industry hope

June 18, 2012
J.K. Wall
The skies got a little brighter for the orthopedic industry on Friday after Warsaw-based Biomet Inc. reported strong quarterly sales growth of 3.4 percent. That news sparked a small surge in the stock prices of two other Warsaw-based orthopedics companies.
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Orthopedic startups attracting big moneyRestricted Content

June 9, 2012
J.K. Wall
The Warsaw area is well-known as the home of gigantic orthopedic implant companies and their suppliers. But now a handful of startups have been able to raise nearly $25 million in equity investments despite the recession—putting a bit more fuel into a fairly stagnant entrepreneurial sector.
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House swipes at health law with repeal of medical device tax

June 8, 2012
Republicans in the U.S. House joined with 37 Democrats to pass a bill repealing a medical-device tax, chipping away at the 2010 health-care law in a victory for companies including Indiana-based Zimmer Holdings Inc. and Boston Scientific Corp.
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IU research leads to new genetic test

June 4, 2012
J.K. Wall

It took the identification of 19 different genes for researchers at the Indiana University School of Medicine to develop a test for a rare form of cancer. But their gene-hunting has paid off, as a Texas-based company announced Monday the test is available for doctors to use.

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U.S. losing drug-research jobs to other countries

May 17, 2012
Bloomberg News
Eli Lilly and other big pharmaceutical companies are creating thousands of research jobs overseas as countries led by Singapore, Ireland and South Africa boost incentives.
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Indiana slips in life sciences funding

May 14, 2012
J.K. Wall
Indiana has taken “a giant step backward” in the availability of early-stage capital for life sciences companies, according to the Indiana Health Industry Forum—which also has a few ideas on how to reverse those developments.
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Cancer tools help Roche with Alzheimer's drug

May 13, 2012
Bloomberg News
Treatments for central nervous system diseases have a huge potential payoff, analysts say. A hint of whether the gamble may pay off is due in the second half of this year, as Eli Lilly and Co. and Pfizer Inc. announce results for Alzheimer’s drugs that attack the same protein as Roche’s experimental drug.
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SCHREIBER: Innovation will drive health care industryRestricted Content

May 12, 2012
Entrepreneurship needs broader encouragement, and is targeted in a new plan.
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BioCrossroads launches second seed fund

April 30, 2012
J.K. Wall
BioCrossroads Inc. has raised an $8.25 million seed fund in its second attempt to help startup life sciences companies grow to the point where they can attract venture capital or a corporate funder.
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Zimmer profit up slightly, meets expectations

April 26, 2012
Associated Press
Indiana-based orthopedic implant maker Zimmer Holdings Inc. on Thursday reported a fractional increase in first-quarter profit on higher sales in all global regions, particularly the Asia Pacific.
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Dow Agro sales surge on healthy ag market

April 26, 2012
J.K. Wall
Sales at Indianapolis-based Dow AgroSciences grew 14 percent in the first quarter, to $1.8 billion, helped by an early planting season in North America and a buoyant agricultural market.
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Purdue set to start building life sciences park

April 19, 2012
Associated Press
The $38 million Lyles-Porter Hall will house numerous health programs. Purdue also is planning a $25 million Drug Discovery Building that will bring together pharmaceutical researchers from throughout the school.
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Cook Group acquires local biotech company

April 9, 2012
 IBJ Staff
Bloomington-based medical device maker Cook Group has acquired General BioTechnology LLC, an Indianapolis biotech company with about 20 employees, Cook Group announced Monday.
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New Lilly drug has small sales potential

April 9, 2012
J.K. Wall
Eli Lilly and Co.’s newest drug is a boon for Alzheimer’s research but is likely to bring the Indianapolis drugmaker less than $100 million in annual sales—at least initially, according to one of the few analysts to make a forecast.
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Biomet offers to acquire DePuy trauma biz for $280M

April 3, 2012
 IBJ Staff and Bloomberg News
Warsaw-based Biomet, which designs and manufactures orthopedic products for surgical and non-surgical uses, said the deal would greatly expand its sports, extremities and trauma business.
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Roche's downsizing to claim about 80 local IT workers

March 29, 2012
 IBJ Staff
Roche Diagnostics Corp. plans to eliminate about 80 information technology jobs at its Indianapolis-area campus over the next two years, the company said Thursday morning.
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Device maker Biomet paying $22.7M to settle bribery case

March 26, 2012
Associated Press
Indiana-based Biomet Inc. has agreed to pay $22.7 million to settle U.S. criminal and civil allegations that it bribed government-employed doctors in Argentina, Brazil and China for eight years to win business with hospitals.
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Q&A

March 26, 2012
J.K. Wall
Tino Pereira, CEO of Canada-based Iotron Industries, discussed the electron-beam facility his company opened March 15 in Columbia City, which lies halfway between Fort Wayne and Warsaw in northern Indiana. Iotron already helps some of the orthopedic implant makers in Warsaw alter the strength, flexibility or surface conditions of the materials in the joint replacements they make. That makes its services important in research and development for new products.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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