WellPoint lowers earnings forecast after $90M legal bill
Indianapolis-based WellPoint Inc. said it is lowering its profit forecast for the year by 3 percent after reaching a $90 million settlement in a class-action lawsuit.
Bloomberg News
Articles
Web domain requests include .Cialis, .Walmart
Indianapolis-based Eli Lilly and Co. and other corporate heavyweights are applying for Web suffixes including .cialis, .walmart and .jpmorgan under a program to expand the number of Internet domain names beyond .com.
Simon Property’s revolving loan signals overseas deals
Simon Property Group Inc., the world’s largest real estate investment trust, has increased its firepower for potential global expansion with a $2 billion revolving line of credit in six currencies.
U.S. retail chains spending billions in bet on growth
For all the concern that the U.S. economy may be slowing, retailers from Express Inc. to Indianapolis-based Finish Line Inc. are poised to spend the most on capital improvements since the recession.
Rolls-Royce must face whistle-blowers’ lawsuit
Rolls-Royce Corp. lost a bid Monday for dismissal of a whistle-blower lawsuit pressed by two former quality-control officers claiming the company cheated the United States by failing to report defense-contract product defects.
WellPoint seeks to diversify by buying contacts retailer
WellPoint Inc. plans to buy lens retailer 1-800-Contacts Inc. in a deal worth an estimated $900 million, giving the insurer its first direct-to-consumer business outside selling individual health coverage.
FDA’s $6.4B drug review fee plan passes Senate
The U.S. Senate voted to let regulators collect on a $6.4 billion fee agreement struck with Indianapolis-based Eli Lilly and Co., Medtronic Inc. and other companies to fund reviews of new drugs and medical devices through 2017.
Mexican big rigs shun border, imperiling trucking deal
A cross-border trucking pact that ended a 17-year trade dispute between the U.S. and Mexico last year may unravel unless more Mexican big rigs start crossing the border. Failure of the program could have an impact on trucking firms like Indianapolis-based Celadon Group Inc.
Potential Effient rival recommended for approval
Johnson & Johnson and Bayer AG’s blood-thinner Xarelto should be approved to help prevent heart attacks and strokes in patients with a common condition, a U.S. regulatory report recommended.
Shares of Facebook stall after company’s record IPO
Facebook sold 421million shares to raise $16 billion, giving the company a $104 billion market value. After the debut, underwriters bought the stock to keep it from falling below the IPO price.
Good cholesterol may not lower heart risk, study suggests
Raising good cholesterol, a goal pursued by Eli Lilly and Co. as the next milestone in cardiac care, may not cut heart-attack risk, says a study that challenges the development of drugs that may someday generate billions of dollars in sales.
U.S. losing drug-research jobs to other countries
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.
Lilly unlikely to gain from Plavix patent loss, analyst says
Indianapolis-based Eli Lilly and Co. and London-based AstraZeneca Plc aren't expected to have an easier time gaining more of the market for blood thinners dominated by Bristol-Myers Squibb Co.’s Plavix after the drug loses U.S. patent protection Thursday.
Student-loan debt-collection agencies garner criticism
Lucrative incentives paid to federal student-loan collectors are sparking criticism that not-for-profit loan-guaranty agencies are reaping a bonanza from the troubles of former students. USA Funds, the largest guaranty agency, is based in Indianapolis.
Cancer tools help Roche with Alzheimer’s drug
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.
Noble Roman’s top investor loses Green Mountain chair
Green Mountain Coffee Roasters Inc. has stripped founder Robert P. Stiller of his position as chairman after he sold shares to meet a margin call at a time when the company’s trading policies prohibited such sales.
U.S. jobless rate slips despite dismal employment report
Employers added fewer workers than predicted in April, but the jobless rate unexpectedly fell as workers left the labor force. The participation rate, which indicates the share of working-age people in the labor force, fell to it lowest mark since 1981.
Duke Energy profit falls on Indiana plant settlement
Duke Energy Corp. said first-quarter profit fell 42 percent after a regulatory settlement in Indiana increased costs and mild weather reduced heating demand.
Arrests made in $80M Lilly prescription drug heist
Authorities have arrested two Cuban brothers in the 2010 theft of about $80 million in Eli Lilly and Co. prescription drugs from a Connecticut warehouse, a robbery described as one of the biggest pharmaceutical heists in history, the U.S. attorney’s office said Thursday.
Lilly letting U.S. researchers test failed compounds for new uses
More than 20 compounds that Eli Lilly and Co., Pfizer Inc. and AstraZeneca Plc failed to turn into drugs will be tested by U.S.-sponsored scientists in a $20 million program to see if they’ll work against ailments they weren’t aimed at previously.