The invalidation of Lilly’s Strattera patent opened the door for as many as 10 companies to sell generic versions of the drug,
which generated U.S. sales of $445.6 million last year as a treatment for attention deficit hyperactivity disorder.
A dozen potential products designed to slow or stop clumps of protein from forming in the brain, a condition linked to the
disease since 1906, have failed in mid- to late-stage testing since 2003.
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.
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.
Shares in ITT Educational Services Inc., based in Carmel, declined 13 percent Monday morning, to $56.02 each, after being downgraded
American International Group Inc. has agreed to sell a majority stake in its Evansville-based consumer lending unit, getting
rid of an operation that posted about $1.7 billion in operating losses since 2008 and accumulated more than $17 billion in
debt.
Proceeds from the sale will be used for working capital and general corporate purposes, including debt repayment, the company
said in a prospectus.
Simon Property Group Inc., the largest U.S. shopping-mall owner, plans to sell $750 million of notes to fund a tender offer
for outstanding debt for the second time this year.
Indiana Gov. Mitch Daniels said he opposes more stimulus such as aid to states to keep teachers hired and to expand credit
to small business, while favoring incentives to revive private hiring and investment.
The U.S. hog-breeding herd is near the smallest on record, and wholesale pork-belly prices are up 72 percent in the past year,
to the highest price since at least 1998.
WellPoint Inc., UnitedHealth Group Inc. and three other health insurers, criticized by Democrats during the health care reform
debate, are seeking to influence how the new law will be implemented, and possibly change it, by campaigning for supportive
congressional candidates.
Inquiry stemmed from an article in the New York Times about a dispute between the Warsaw-based maker of artificial hip and knee joints and two of its consultants.
Copenhagen-based health-care company Ascendis Pharma A/S received offers of about $400 million, an unidentified source said.
Ascendis may choose a final bidder by early September.
Indianapolis-based WellPoint Inc. became the third U.S. health insurer this month to increase its 2010 profit forecast, stirring
investor concern that state and federal regulators may increase scrutiny of industry pricing.
The Obama administration released a proposal that would tighten for-profit colleges’ access to federal student aid,
threatening an industry that received $26.5 billion in U.S. funds last year. Carmel-based ITT Educational Services
is among those potentially affected.
Net income was $49.2 million, compared with a net loss of $16 million a year earlier, the Fort Wayne-based steelmaker said
Monday in a statement.
The National Collegiate Athletic Association must face a lawsuit by consumers claiming the organization unlawfully profits
from a ticket lottery.
Both of Lilly’s late-stage treatments are designed to reduce plaque in the brain called beta amyloid, thought by researchers
to be a main contributor to Alzheimer’s. A drug that stops or reduces memory loss caused by Alzheimer’s may be worth more
than $5 billion
a year, an analyst says, helping Lilly overcome the coming patent losses on several important pharmaceuticals.
Attorney general seeks more details on the breach, which may have compromised financial and health information on almost 500,000
people. He also calls on the Indianapolis-based insurer to provide affected customers with credit monitoring and theft protection
services.
U.S. Senator Charles Grassley asked 16 drugmakers, including Eli Lilly & Co., Pfizer Inc. and AstraZeneca Plc, to reveal
how they treat whistleblowers who file complaints under the False Claims Act.
