CNO stock hits 4-year high on recapitalization strategy
Carmel-based insurer CNO Financial Group Inc. said Tuesday that it is seeking $950 million of loans and bonds to repay debt and reduce borrowing costs.
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Lilly stops testing of experimental schizophrenia drug
Eli Lilly and Co. halted testing on an experimental treatment for schizophrenia after the company determined the drug was unlikely to show a benefit in patients.
Investor urges General Growth to pursue being acquired by Simon
Bill Ackman’s Pershing Square Capital Management LP, the second-largest investor in General Growth Properties Inc., urged the mall owner to enter negotiations for a takeover by rival Simon Property Group Inc.
Lilly’s Alzheimer’s finding triggers investor hope, doctor caution
While investors supported the sliver of promise offered when Eli Lilly and Co. said its Alzheimer’s drug may slow progression early in the disease, doctors weren’t as impressed, saying it could take years to find out for sure.
Potential for Simon-General Growth deal appears to dim
General Growth Properties' largest shareholder said it won’t pursue a takeover of the company and has no interest in unloading its stake after investor Bill Ackman urged the mall owner to consider a sale.
Lilly wins appeal upholding patent for Alimta cancer drug
Eli Lilly and Co. won a U.S. appeals court ruling that upholds the validity of a patent for the lung-cancer drug Alimta and blocks generic competition through 2017. Alimta generated $2.5 billion in sales last year.
WellPoint CEO’s critics suggesting replacements
Another plea for the ouster of WellPoint CEO Angela Braly is spurring discussions among investors and analysts about a replacement. Top suggestions include James G. Carlson, the chief of Amerigroup Corp., and David B. Snow Jr., the former chief of Medco Health Solutions Inc.
Lilly’s Alzheimer’s drug trials show mixed results
Eli Lilly and Co.’s experimental Alzheimer’s drug failed to meet its primary goals in two separate clinical trials. However, when the results of both trials were combined, the drug appeared to have slowed the decline of cognition in some patients.
Big WellPoint investor Royal Capital calls for CEO’s ouster
Royal Capital Management LLC is calling for the ouster of WellPoint Inc. CEO Angela Braly in a letter to the health insurer, saying she has “failed miserably.”
U.S. jobless claims increase to highest level in a month
The number of Americans filing first-time applications for unemployment benefits climbed last week to a one-month high, showing little progress in the labor market.
WellPoint competitor Aetna to buy Coventry for $5.6B
Aetna joins rivals WellPoint Inc. and Cigna Corp. in making big acquisitions as the U.S. government expands medical coverage.
History points to worse-than-expected year for crops
U.S. corn farmers, who've been hurt by the worst drought in a generation, are likely to harvest smaller crops than the government forecast this month, based an analysis of dry spells in the past 42 years.
WellPoint least popular insurer in poll of hospital execs
WellPoint Inc., the health insurer that’s lost 19 percent of its market value over two months, is the least popular carrier among hospital executives who have to negotiate with them, an industry survey shows.
Angie’s List shares plunge to record low after lockup ends
Shares in Indianapolis-based Angie’s List Inc., the consumer-review website company, plunged to a record low after a ban was lifted on stock sales by some of the company’s biggest investors.
WellPoint CEO faces ire of investors who say she must go
WellPoint Inc.’s Angela Braly is facing tough questions about her performance after the Indianapolis-based health insurer reported disappointing earnings last month and cut its 2012 forecast. Investors say Braly is the problem and some are calling for her ouster.
Allison Transmission sets rate on $500 million loan
Allison Transmission Inc., the locally based maker of transmissions for trucks, buses and the military, set the interest rate it will pay on a $500 million term loan the company is seeking to refinance debt.
National, state foreclosure starts on the rise
The number of homes that received an initial notice of default — the first step in the foreclosure process — increased 6 percent in July compared to the same month last year. Foreclosure starts rose 83 percent in Indiana.
Simon Property directors sued over CEO’s pay
The board of the largest U.S. shopping-mall owner wrongfully authorized a compensation package for CEO David Simon that included $120 million in special stock awards, a Louisiana pension fund claimed in the lawsuit filed Wednesday.
Indiana farmer puts purchases on hold as drought breeds doubt
A combination of little rain and record heat has roasted corn crops, dried up ponds and streams and caused farmers to postpone purchases of everything from grain bins to smartphones.
Emmis to delay shareholder vote until judge rules
Emmis Communications Corp. told a U.S. judge it will delay a scheduled Aug. 14 shareholder vote that could wipe out $34 million in unpaid preferred stockholder dividends until after she rules on a bid to block the balloting.