Life Science & Biotech

Lilly receives Europe's OK for new Byetta use

March 23, 2012
 IBJ Staff and Associated Press, Associated Press
European regulators have approved an expanded use for the diabetes treatment Byetta, developed by Eli Lilly and Co. and Amylin Pharmaceuticals Inc. The FDA approved the same expanded use last fall.
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Life sciences firm plans to expand, add 46 jobs

March 15, 2012
Noblesville-based Helmer Inc. said it will invest $10.6 million to build a new manufacturing and headquarters facility at the Saxony Corporate Campus near Interstate 69. It plans to add the jobs by 2014.
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Endocyte pulls trigger on European drug submission

March 13, 2012
J.K. Wall
Endocyte Inc. will submit its ovarian cancer drug EC145 for European market approval in the third quarter of this year after the European Commission granted it orphan drug status.
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AIT Labs exec succeeding founder Evans as CEO

March 2, 2012
 IBJ Staff
The promotions of several executives follow the Indianapolis-based clinical testing company's announcement in January that it was cutting jobs and restructuring its business.
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CityWay designed to integrate retail, housing, hotel, YMCARestricted Content

February 25, 2012
Marc D. Allan
Architects were told to push the envelope and integrate. Be mindful of where you are in the city and integrate well.
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EDITORIAL: BioCrossroads an example of vision at workRestricted Content

February 18, 2012
 IBJ Staff
We hate to think what Indiana’s economic future might be if no one had made a point of putting the state’s life sciences assets to work in a coordinated, strategic way.
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BioCrossroads has stoked state's life sciences industry, but challenges remainRestricted Content

February 11, 2012
J.K. Wall
In the 10 years BioCrossroads has been promoting life sciences in Indiana, the effort has netted more than 330 new companies, an infusion of more than $330 million in venture capital, a tripling of exports, and a growing number of mentions in national reports on life sciences.
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Health care VC hits new Indiana low in 2011

February 6, 2012
J.K. Wall
Indiana companies landed just $14.1 million in venture funding last year, the lowest amount of capital flowing to  the state’s health care sector since BioEnterprises began tracking such deals in 2005.
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Dow Agro posts record fourth quarter profit

February 2, 2012
 IBJ Staff and Associated Press
The Indianapolis-based unit of Dow Chemical Co. saw earnings grow to $142 million, a fourth-quarter record and double the $72 million reported for the 2010 period.
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Lilly's quarterly profit tumbles, but tops Wall Street estimates

January 31, 2012
J.K. Wall
Patent expirations on Gemzar and Zyprexa contributed to the 27-percent earnings decline, but CEO John Lechleiter touted better-than-expected sales of other products.
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Purdue hopes center simplifies commercialization

January 30, 2012
J.K. Wall
Purdue University's new Innovation and Commercialization Center is supposed to be a one-stop shop for professors to get help developing their research into products and for outside investors to find out what research is taking place there.
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Eli Lilly unit plans to buy feed-enzyme maker

January 24, 2012
Associated Press
Drugmaker Eli Lilly and Co.'s Elanco animal health division plans to buy a privately held maker of feed-enzyme products that improve poultry, egg and meat production.
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Indianapolis-area mergers and acquisitions in 2011Restricted Content

January 21, 2012
A number of acquisitions last year disclosed no sale price. In the Indianapolis area, those deals ranged from MacAllister Machinery's purchase of a Caterpillar dealership in Michigan to Herff Jones' acquisition of a Memphis, Tenn.-headquartered maker of cheerleading uniforms.
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City set to cancel tax abatement for medical device firm

January 18, 2012
Polymer Technology Systems said in 2007 that it would make a $3 million investment at its operation on Zionsville Road and create 110 jobs.
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At long last, Roche wins approval of Nano

January 16, 2012
J.K. Wall
The OK for a new blood glucose monitor comes more than two years after FDA officials declined to approve a previous version of the Nano, which in rare cases generated inflated blood sugar readings because it did not distinguish properly between the sugars glucose and maltose.
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Indiana's medical device workforce will need skills upgradeRestricted Content

January 14, 2012
J.K. Wall
A new report by BioCrossroads says 53 percent of the 20,000 jobs in Indiana’s medical-device sector require no more than a high school education.
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National life sciences law firm opens office hereRestricted Content

January 7, 2012
 IBJ Staff
New York-based Epstein Becker Green already has clients here, including Biomet and Roche Diagnostics.
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Endocyte stays course despite being battered by investorsRestricted Content

December 31, 2011
J.K. Wall
After spending most of 2011 as a Wall Street darling, the year ended ugly for Endocyte Inc. But CEO Ron Ellis thinks the West Lafayette-based drug developer is in better position than ever.
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Filing: Roche considered leaving Indy

December 27, 2011
J.K. Wall
It’s hard to believe now, but as recently as two years ago, Indianapolis was close to losing its 15th-largest employer. Roche Diagnostics Corp. was looking seriously at moving its 2,900-employee North American headquarters out of Indianapolis.
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Ex-Dow Agro scientist receives seven years for economic espionage

December 21, 2011
Kexue Huang was sentenced after pleading guilty in October to sending Dow AgroSciences trade secrets to China and Germany.
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Ex-Dow Agro scientist set to be sentenced in espionage case

December 21, 2011
Scott Olson
Federal prosecutors are recommending that Kexue Huang be sentenced to 87 months in prison for sending trade secrets worth millions to China and Germany.
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SEC accuses Positron CEO of misleading investors

November 28, 2011
Chris O'Malley
Regulators allege CEO Patrick G. Rooney diverted millions of dollars from a hedge fund into the struggling Fishers company without investors' knowledge.
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Purdue courts Silicon Valley partnershipsRestricted Content

November 26, 2011
Chris O'Malley
The office, at NASA Ames Research Center, in Mountain View, Calif., aims to commercialize Purdue-developed technology through partnerships with private industry.
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JONES: Patent reform is mixed bag for life sciences companiesRestricted Content

November 26, 2011
Kristin Jones / Special to IBJ
For Indiana's life sciences sector, the change both raises hopes and creates challenges for continued growth.
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Cancer-drug firm Endocyte to build commercial team in IndianapolisRestricted Content

November 12, 2011
J.K. Wall
Endocyte employs 12 people in Indianapolis and plans to add three or four more commercial executives there over the next year and a half as it anticipates approval of its ovarian cancer medication in Europe.
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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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