Truck stocks signal economic growth
Companies that act as brokers for trucking services are gaining favor with investors as the 20-month-old rebound shifts into a new phase that’s less dependent on inventory restocking.
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Court OKs reorganization plan for Hoosier Park owner
Hoosier Park Racing & Casino owner Centaur LLC last week won court approval of its plan to cut debt by about $636 million and exit bankruptcy.
Want to confess your sins? There’s an app for that
A South Bend firm has a bishop’s go-ahead to publish a $1.99 iPhone application to help Catholics through the process of confession.
Cancer drugmaker Endocyte raises $75 million in IPO
Indiana-based Endocyte Inc., a developer of drugs for ovarian and lung tumors, raised $75 million in its initial public offering after cutting the price twice this week for a total reduction of as much as 60 percent.
Report: Gifts to universities flat despite market recovery
College fundraising was flat during the 2010 fiscal year as a recovering stock market failed to instill donors with confidence. But Indiana University bucked the trend.
For-profit colleges make costly loans, report says
Companies including ITT Educational Services Inc., DeVry Inc and Career Education Corp. are making loans with “high costs” and “predatory terms,” the group said.
Execs from WellPoint, peers meet to hone health-law lobby
Top executives from WellPoint Inc. and UnitedHealth Group Inc. are meeting almost monthly with their counterparts from Aetna Inc., Cigna Corp. and Humana Inc. in an informal lobbying alliance aimed at blunting parts of the health-care law, say sources with knowledge of the sessions.
WellPoint profit better than analyst estimates
Excluding special charges, WellPoint’s profit fell 2 percent to $524.7 million in the fourth quarter from $536 million in the fourth quarter of 2009. But earnings per share improved thanks to stock buybacks.
Remy International considering stock offering, CEO says
Pendleton-based Remy International Inc., the former General Motors Co. unit that exited bankruptcy in 2007, is considering a public offering of its stock this year, CEO John Weber says.
Vanderbilt rejected by high court on Cialis patents
Supreme Court justices on Monday left intact a ruling throwing out a lawsuit pressed by the Nashville, Tenn., university against Eli Lilly’s Icos subsidiary.
Lilly seeks to block imports of cancer drug copy
The local drugmaker told the International Trade Commission on Thursday that the generic version of Gemzar violates its patent on the process for making the active ingredient.
Lilly imaging drug fails to win FDA panel’s backing
Eli Lilly and Co.’s Amyvid isn’t ready to be approved to detect Alzheimer’s-related deposits in the brain, according to FDA advisors. The medicine could still be approved if Lilly establishes a training program and a way to ensure that the results of brain scans are read consistently, they said.
Panel says Lilly’s Solpura isn’t ready for approval
Eli Lilly and Co. failed to win an FDA advisory panel’s recommendation to introduce the first pancreatic enzyme that isn’t derived from pig parts.
Simon Property abandons offer for Capital Shopping
Simon Property Group Inc., the largest U.S. shopping mall owner, abandoned its $4.5 billion bid for Capital Shopping Centres Group Plc after the British company resisted Simon’s takeover interest.
Lilly partner moves up timetable for diabetes drug
Amylin Pharmaceuticals Inc., rebuffed twice in its bid for U.S. approval of a weekly diabetes drug, will meet its timetable and submit a heart-safety study to regulators by the end of 2011, its CEO said.
Lilly’s Solpura may lack data to prove effectiveness
Outside advisers to the FDA will meet Jan. 12 to review whether the drug should be approved for people with pancreas insufficiency caused by cystic fibrosis, chronic pancreatitis or other conditions.
Duke Energy plans acquisition, new CEO
Duke Energy Corp. announced Monday an agreement to buy Progress Energy Inc. and put Progress CEO William Johnson in charge of what will be the largest U.S. utility.
Simon target’s valuation ‘out of reach’ for Indianapolis firm
Capital Shopping Centres Group Plc, the U.K.’s biggest shopping mall owner, said it is worth as much as $9.64 a share to a bidder, almost 50 percent more than an offer from Indianapolis-based Simon Property Group Inc.
NCAA president predicts shrinking athletics revenue
Revenue growth in college sports’ top tier will be held to 3 percent next year as states slash subsidies nationwide, predicts Mark Emmert, president of the National Collegiate Athletic Association.
Simon lands $4.6B loan to fund offer for London mall owner
Simon Property Group Inc. has secured a 3 billion pound loan that will give the company the resources to bid for London-based Capital Shopping Centres Group Plc.