News & Analysis

Bad news piles up for Lilly

August 18, 2010
J.K. Wall
What a tough week for Lilly. On Aug. 12, a judge struck down the Indianapolis-based drugmaker’s U.S. patent on Strattera, which might cost the company about $450 million in annual revenue. Then, five days later, Lilly halted clinical trials on one of its experimental Alzheimer’s medicines, because patients did worse on the drug than on a placebo.
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Nearly 7,000 Indiana homes weatherized with federal money

August 17, 2010
Associated Press
Indiana is now the 18th state to complete 30 percent of its goal, by retrofitting about 20,000 homes to make them more energy efficient.
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Attorney General files suit against local publisher

August 17, 2010
Attorney General accuses David Caswell and New Century Publishing of violating state consumer protection laws by accepting payment without providing publishing services. IBJ reported July 30 that several authors had paid New Century for books but never received them.
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Big Ten seeking $20 million in TV money for football title game

August 17, 2010
Anthony Schoettle
Big Ten officials want nearly twice as much money as the Southeastern Conference is getting from CBS for its championship football game.
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Visteon ordered to reinstate health care to retirees

August 17, 2010
Bloomberg News
The mandate from a U.S. bankruptcy judge will supply retroactive benefits to more than 6,000 Visteon Corp. retirees who lost insurance coverage after the Michigan-based auto-parts maker filed for bankruptcy in 2009, including 2,100 workers in Indiana.
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Prospective GM plant buyer pleads case in advertisement

August 17, 2010
JD Norman Industries advertisement tells employees that its proposal to buy the plant would guarantee their GM transfer rights without having to close the facility.
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Summit Realty pursues downtown building for HQ

August 17, 2010
Scott Olson
The firm, now based in Chase Tower, wants to acquire and renovate the building at 241 N. Pennsylvania St.
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Jones' robotic mower company lands $4.5 million in funding

August 17, 2010
Anthony Schoettle
Precise Path Robotics completes round of funding on the heels of signing contract with two companies that control more than 100 U.S. golf courses.
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IndyGo airport route extended through 2011

August 17, 2010
The bus system's announcement in May that its current service and fare structure will remain intact through 2011 helped to extend the life of the route.
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Hybrid-motor sales help boost Remy's quarterly results

August 17, 2010
Pendleton-based company reported both higher profit and revenue, helped by a 20-percent increase in hybrid-motor sales.
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Lilly's Cymbalta helps chronic pain in U.S. review

August 17, 2010
Bloomberg News
Approval for the millions of Americans with chronic back or knee pain may add more than $500 million, or 16 percent, to Cymbalta's annual sales.
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Lilly halts development of Alzheimer's drug

August 17, 2010
 IBJ Staff and Associated Press
Studies showed that the treatment did not slow the disease's progression. It's just the latest setback for the pharmaceutical giant, which lost a patent lawsuit over a major drug last week and faces an unprecedented number of patent expirations through 2014.
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Greenwood businessman arrested for plan to commit arson

August 16, 2010
The arrest of Daniel Annee, 46, follows an investigation in which he is alleged to have paid an undercover agent, posing as an arsonist, $500 to burn down a building he co-owned at 431 E. Hanna Ave.
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Ivy Tech renews president's contract

August 16, 2010
Scott Olson
Thomas Snyder is set to lead the nation's largest singly accredited statewide community college through at least 2014. His annual salary of $300,000 remains unchanged.
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Economic development officials stunned by GM plant no-vote

August 16, 2010
Kathleen McLaughlin
Indiana Commerce Secretary Mitch Roob said he was completely surprised by local General Motors workers' refusal to vote on a proposed contract by JD Norman Industries, a decision that appears to set up the plant for certain closure.
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Medco to acquire United BioSource for $710M

August 16, 2010
 IBJ Staff and Bloomberg News
Medco operates an automated pharmacy and distribution center in Whitestown in Boone County, and it plans to employ more than 1,400 people there by 2012.
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Steak n Shake parent sees profit, revenue rise

August 16, 2010
Scott Olson
Biglari Holdings Inc. said revenue in the quarter rose 9.4 percent over the year-ago period and same-store sales increased by 7.5 percent
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ITT, other for-profit education firms face more oversight

August 15, 2010
Bloomberg News
Shares in ITT Educational Services Inc., based in Carmel, declined 13 percent Monday morning, to $56.02 each, after being downgraded
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UAW halts vote on giveback deal at Indy GM plant

August 15, 2010
Associated Press
UAW Local 23 bargaining chairman Gregory Clark says members won't vote on the proposed contract, which would cut base wages from $29 per hour to $15.50.
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New Jersey project enriched Simons

August 14, 2010
Cory Schouten
The battle over the estate of Melvin Simon has thrown a spotlight on a New Jersey development project that, by itself, has made many Simon family members multi-millionaires.
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Lilly braces for plunge in profits

August 14, 2010
J.K. Wall
Indianapolis-based drugmaker Eli Lilly and Co. faces such an unprecedented string of patent expirations and an unheard-of loss of revenue that it's hard to picture what the company will look like in five years.
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Battery-maker EnerDel eyes utility power-storage marketRestricted Content

August 14, 2010
Chris O'Malley
Locally based EnerDel Inc. has been riding high on prospects its lithium-ion batteries will be in hot demand to power plug-in electric vehicles, but another market might be larger. A Piper Jaffray report estimates the global market for batteries used to store electricity on utility power grids could be $600 billion over 10 years.
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Unsettled NFL labor pact complicates Manning contract

August 14, 2010
Anthony Schoettle
Colts owner Jim Irsay wants to make quarterback Peyton Manning the highest-paid player in the NFL when his contract expires next year. But a dispute over compensation in the National Football League is complicating efforts to sign him to a long-term deal.
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Life sciences panel pegs bright spots in IndianaRestricted Content

August 14, 2010
Leaders tackle issues ranging from research to cold storage to the future of Eli Lilly and Co.
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Indiana life sciences group moves aheadRestricted Content

August 14, 2010
Scott Olson
INpact not-for-profit arranged virtual approach to help startup firm develop device to detect tooth cavities early.
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