Company news

July 28, 2010

Riley Children’s Foundation received a $1.5 million pledge from the Jeff Gordon Children’s Foundation to create a cancer research fund. The gift will create a $1 million endowment to fund collaborative research at Riley Hospital for Children and the Wells Center for Pediatric Research at the Indiana University School of Medicine. The remaining $500,000 will address immediate research needs at Riley hospital.

Indiana Spine Group will break ground on a 60,000-square-foot facility in Carmel on Aug. 2. The Indianapolis-based physician practice says it will be able to provide care for any spinal disorder at the center. Located just south of the St. Vincent Carmel Hospital, the facility will open in the fall of 2011. Indiana Spine Group will relocate its practice, which is currently near St. Vincent Indianapolis Hospital.

Eli Lilly and Co.’s profits spiked 16 percent in the second quarter to $1.3 billion, or $1.22 per share, handily beating expectations of Wall Street analysts. Revenue at the Indianapolis-based drugmaker rose 9 percent to $5.7 billion in the quarter. The company raised its year-end profit forecast by a dime a share, to a range of $4.50 to $4.65, excluding special items.

Zimmer Holdings Inc. also topped Wall Street expectations for second-quarter profit. The Warsaw-based maker of orthopedic implants turned a profit of $165.5 million, or 82 cents per share. But it spent $86.5 million on legal claims and an acquisition. Excluding those costs and special tax savings, the company would have earned $221.2 million, or $1.09 per share—four cents above analysts’ expectations, according to Thomson Reuters. Sales rose 3 percent to $1.06 billion.