Biomet files to sell shares in IPO to pay down debt
Indiana-based Biomet Group Inc., a closely held maker of orthopedic medical devices, had been publicly traded until 2007 when it was acquired by the group of private equity firms.
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Office retailer Staples plans to shut down 225 stores
Staples Inc., the largest U.S. office-supplies retail chain, will close as many as 12 percent of its North American stores and cut as much as $500 million in costs as online competition continues to hurt sales.
U.S. job gains exceed predictions, but unemployment rate rises
Employers added more workers than projected in February, while unemployment rose to 6.7 percent from 6.6 percent as more people entered the labor force.
Former college running back sues NCAA over scholarship caps
The Indianapolis-based National Collegiate Athletic Association and five of college football’s regional conferences, including the Big Ten, were sued by a former West Virginia University player who claims they agreed to limit the value of scholarships to less than the actual cost of attendance.
Lilly diabetes drug rejected by FDA over manufacturing issue
The Lilly-Boehringer drug empagliflozin is projected to reach sales of $295 million for Lilly in 2019, but it won’t be able to sell it until issues are resolved at a German plant.
Insurers’ Obamacare losses may reach $5.5 billion, U.S. says
Health insurers such as Indianapolis-based WellPoint Inc. and Louisville-based Humana Inc. stand to receive $5.5 billion next year to cover losses from Obamacare in a program the law’s opponents label a bailout.
ITT delays financial statements amid student-loan probe
Carmel-based ITT Educational Inc. said it’s unable to file its 2013 annual report because of a federal investigation into its accounting practices.
NCAA, ex-college players ordered to hold settlement talks
The National Collegiate Athletic Association and ex-college athletes have been ordered to hold settlement talks in an $800 million lawsuit claiming the Indianapolis-based NCAA illegally blocks student players from profiting from the use of their images.
Potholes devouring municipal budgets locally, across U.S.
About three-fourths of U.S. states and many cities, including Indianapolis, have outspent their maintenance budgets dealing with the extreme weather.
Consumers shun cheapest Obamacare exchange plans
Most Americans are avoiding the lowest-priced health plans on the Obamacare insurance exchanges, taking advantage of government subsidies to seek more protection against high treatment costs.
Pilot shortage hitting Republic’s bottom line
Indianapolis-based Republic Airways Holdings plans to stop flying 27 of its 41 Embraer 50-seat jets because of the pilot shortage. That decision will lower income as much as $22 million this year.
With supplies low, it’s overtime in road salt mines
The national supply of road salt is running low. New York has declared a state of emergency, while Indiana, Wisconsin, Illinois, Pennsylvania, and other states have disclosed their difficulties in covering streets and sidewalks amid a long-running cold snap.
Companies rethink hiring policies for former criminals
State and local lawmakers around the country, including some in Indianapolis, are supporting efforts to increase the hiring of ex-offenders.
Testosterone-replacement rival of Lilly’s Axiron draws lawsuits
Abbott Laboratories and AbbVie Inc., the company it spun off last year, hid the dangers of using the testosterone replacement drug AndroGel, five men claim in lawsuits.
U.S. venture gathers drugmakers to take on major diseases
Eli Lilly and Co., Pfizer Inc. and eight other large drugmakers will partner with the U.S. government in a $230 million effort to identify new approaches to treat Alzheimer’s, diabetes, lupus and arthritis.
Testosterone drugs under FDA review for heart-attack risk
Testosterone drugs, which make up a growing market for pharmaceutical companies such as Eli Lilly, are getting a closer look from U.S. regulators.
Simon purchases Long Island land from rival Taubman
Simon also purchased the company’s 50-percent stake in Arizona Mills Taubman received $230 million in Simon Property shares and $60 million in cash for the two transactions.
Lilly tops estimates despite shrinking Cymbalta sales
The Indianapolis drugmaker said gains in other products offset declines for its top drug Cymbalta, which lost patent protection in December. Overall, sales slipped 2 percent, to $5.8 billion.
ITT stock sinks as for-profit colleges face more probes
For-profit colleges, bruised by years of investigations and rule-making, may face additional financial pressure from a new wave of state probes by attorneys general and the U.S. Consumer Financial Protection Bureau.
Workers not owed for changing time, Supreme Court rules
Companies in many cases don’t have to pay workers for the time they spend putting on and taking off safety gear, the U.S. Supreme Court ruled, siding with U.S. Steel Corp. in a lawsuit by 800 workers.