Eli Lilly and Co. has commenced its tender offer for New York-based ImClone Systems Inc., the Indianapolis-based drugmaker announced today. Lilly agreed on Oct. 6 to pay $70 a share in cash to acquire ImClone, for a total purchase price of $6.5 billion. Two of ImClone’s largest shareholders-ImClone Chairman Carl Icahn and New York-based Bristol-Myers […]
United Way of Central Indiana is hoping that a matching gift of $300,000 from WellPoint CEO Angela Braly and her husband, Doug, nets $1 million in additional giving over the next three years. “We feel it’s important to challenge others to continue to give, or increase their giving, during this uncertain economic time,” Braly said […]
Central Indiana home sales rose 5 percent in September, compared with a year earlier, according to a report released today by Landrigan & Co., a residential real estate firm. Landrigan said September sales in 13 area counties, including Marion, totaled 2,192, up from 2,084 in the same month a year earlier. The report offered a glimmer […]
Schwarz Pharma Manufacturing Inc. today announced a $12 million expansion of its Seymour manufacturing plant and distribution center, a move that’s expected to increase the company’s employment in the southern Indiana city from 366 to 516 by 2011.The drug maker-a unit of Schwarz Pharma AG of Monheim, Germany-said it plans to begin hiring managers, business […]
Revenue from its overseas radio stations helped Emmis Communications Corp. post a $1.2 million profit in its second quarter following three consecutive quarterly losses.The Indianapolis radio and magazine publishing company this morning reported financial results for the period ended Aug. 31, beating analysts’ estimates but down significantly from the $11.8 million reported for the same quarter last […]
Bankrupt specialty retailer Linens ‘N Things said yesterday that it will be auctioned Tuesday, and that an anticipated “stalking horse” bidder is likely to liquidate the company, according to an Associated Press report. Linens ‘N Things earlier said it would close a store in Avon but keep locations in Castleton, Noblesville and the far south […]
Chrysler LLC has sued Getrag, the German transmission maker that’s building a $530 million plant north of Indianapolis, claiming Getrag breached its contract by failing to obtain financing for the project. Chrysler also said that it is not obligated to reimburse Getrag for Getrag’s costs for the project, according to The Kokomo Tribune. The suit, […]
Bryan Coats, who leads economic development in New Castle and Henry County east of Indianapolis, has been arrested and preliminarily charged with burglary and stalking after his ex-wife called police, according to The Star Press of Muncie. Coats told the newspaper that he was trying to “keep my family together.” “Love is a tough thing,” […]
Lilly Endowment will donate $2.8 million in its latest gift to BioCrossroads Inc., the development group that promotes life sciences business in central Indiana. The money will fund BioCrossroads’ educational and scientific initiatives through 2010. To date, the endowment has given $16 million to fund such BioCrossroads projects as the Indiana Health Information Exchange, the […]
An Italian manufacturer of wind turbine transmissions and other types of transmissions plans to move its U.S. headquarters to Yorktown and create 455 jobs, according to Energize-ECI Inc., an economic development group that promotes the Muncie area. Brevini Co.’s $60 million project will be formally announced this afternoon. The relocation of the U.S. offices from […]
A slowing of new development caused the industrial property vacancy rate to drop in the third quarter, according to Colliers Turley Martin Tucker. The rate fell to 7.3 percent from 8.1 percent in the second quarter, the brokerage said. Available space fell by 3 million square feet, to 25.7 million square feet. While the brokerage […]
Allen County officials have stopped construction of a Fort Wayne hotel because a section of the seven stories that have risen into the air is sinking, according to WANE-TV Channel 15. The project, which is near I-69 and U.S. 24, is settling because it was built on topsoil, the Fort Wayne station reported. The contractor, […]
Brevini, an Italian company that makes transmissions for wind turbines and other applications, is expected to announce tomorrow afternoon that it will open a location in an industrial park at Yorktown, which is near Muncie. The location in Park One will involve as many as 400 jobs ranging from administrative to manufacturing, according to The […]
Stocks in Indiana and across the globe tumbled again today, as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The Dow Jones industrials skidded nearly 500 points and fell below 10,000 for the first time in four years, while the credit markets remained […]
Janitors and clergy staged a rally this morning over a decision by the owner of the 101 W. Ohio office tower downtown to hire a janitorial contractor that didn’t sign on to a citywide janitors’ contract negotiated last spring. The Service Employees International Union said Philadelphia-based Amerimar Enterprises replaced New York-based ABM Industries Inc. with […]
Normal 0 MicrosoftInternetExplorer4 Nonferrous Products Inc., a Franklin company specializing in metalworking and specialty alloys, has agreed to be acquired by International Beryllium Corp. of Vancouver, British Columbia, for $10.5 million. Nonferrous employs 35 at its 12-acre Franklin campus. The company reported $11.7 million in 2007 revenue and is profitable, International Beryllium said in a […]
Normal 0 MicrosoftInternetExplorer4 OHL, a Tennessee-based provider of logistics services, announced today that it will expand its Plainfield operations, investing $11.3 million and creating 120 jobs. The expansion will boost employment at OHL’s 3.2-million-square-foot Plainfield campus to 520. OHL provides logistics services for a variety of firms. The Indiana Economic Development Corp. said the state […]
Damage in Indiana caused by the remnants of Hurricane Ike is causing steep losses for an Ohio insurer with a big presence here. State Auto Financial Corp., a property-and-casualty insurer based in Columbus, Ohio, said it has customers in Texas, where Ike made landfall Sept. 13, but suffered its worst losses in Indiana, Ohio and […]
Eli Lilly and Co. this morning announced that it has agreed to buy biotechnology company ImClone Systems Inc. for more than $6 billion, a deal that expands Lilly’s pipeline of cancer treatments. Indianapolis-based Lilly said it will pay $70 per share for New York-based ImClone. “We really do create an oncology powerhouse,” Lilly CEO John Lechleiter said this […]
Indianapolis-based Eli Lilly and Co. will pay privately held Deciphera Pharmaceuticals LLC of Lawrence, Kan., as much as $520 million to develop and win regulatory approval for four types of cancer drugs, Bloomberg News reported.The companies will collaborate to develop cancer drugs using a Deciphera discovery that seeks to inhibit an enzyme linked to cancer […]
