Eli Lilly settles class-action insulin lawsuit for $13.5M
Under the agreement, Lilly has agreed to continue its cap on out-of-pocket costs for its users at $35 a month for four years.
John Russell
Articles
2023 Innovation Issue: Fields of fortune
But nearly half of Indiana’s corn is turned into ethanol as a fuel blend for cars, and nearly one-quarter of the soybean crop is turned into biodiesel for heavy-duty trucks.
SpectronRx teams with Belgian research center to make cancer therapies in Europe
The Indianapolis-based radiopharmaceutical company said it plans to help open a facility in Belgium to make therapeutic agents for cancer patients.
Carmel startup Syra Health files to go public
Officials of the two-year-old firm that provides professional services in the health care and life science industries expect the offering to raise up to $8 million.
Federal judge triples damages to $183M against Lilly in whistleblower suit
A judge ruled that Indianapolis-based Lilly was liable for higher payments due to its behavior in making false statements to the Centers for Medicare and Medicaid Services about the prices it charged distributors for its drugs.
Can new Indiana law lower drug costs? Answer is as clear as mud
Senate Enrolled Act 8 is part of a sweeping effort this year by the Indiana General Assembly to bring down the cost of health care across the state, where prices are among the highest in the country.
Lilly overtakes rival J&J in market cap to become world’s most valuable drugmaker
Eli Lilly and Co. shares have soared 57% over the past 52 weeks, buoyed in part by sales of its diabetes drug Mounjaro, which the company is also preparing to seek approval to market for obesity.
Cook Medical cutting 500 jobs as part of strategic refocusing
The Bloomington-based maker of medical devices said the move is part of a new plan to strongly focus on product innovation.
Coming off huge losses, Community Health to cut jobs in restructuring
Community Health Network, which lost $161 million last year on operations and investments, plans to cut an unspecified number of jobs through a workforce restructuring. The Indianapolis-based hospital system confirmed Wednesday that it is taking the “unfortunate and necessary step” of making job cuts. It did not say how many jobs would be lost, or […]
Elanco first-quarter earnings rise to $103 million, stock climbs
The company reported earnings per share of 45 cents, handily beating Wall Street’s estimate of 29 cents. Elanco shares soared by about 9% Tuesday in premarket trading, to $9.36.
Catalent blames Bloomington operation for productivity issues, stock falls 26%
Catalent Inc., a contract drug manufacturer, said Monday it would delay quarterly earnings, blaming “productivity issues and higher-than-expected costs” at three plants—including an operation in Bloomington that it bought from medical device maker Cook Group.
Goodman Campbell rebuilds after split from IU Health
Its new partner, Ascension St. Vincent, is building a four-story brain and spine hospital on its flagship campus on West 86th Street in Indianapolis, which will be largely staffed with physicians from Goodman Campbell.
Coming off record fundraising year, Indiana’s life science sector looks for even more capital in 2023
Inventors and entrepreneurs who don’t have a track record face the biggest challenges, a panel of experts said Friday morning at IBJ’s Life Sciences Power Breakfast.
Lilly diabetes drug helps patients shed average of 34 pounds, a development sure to boost sales
The Indianapolis-based drugmaker said it would complete submission of tirzepatide to the U.S. Food and Drug Administration in coming weeks for treatment of obesity and expects regulatory action as early as late 2023.
Carmel-based NICO Corp. hoping for big boost after clinical trial favors its stroke treatment
A seven-year clinical trial concluded that NICO Corp.’s devices are safe and effective to treat intracerebral hemorrhage.
Lilly to sell off drug for low blood sugar in deal worth up to $1.1B
Worldwide sales of Baqsimi totaled $139.3 million last year, representing less than 1% of Indianapolis-based Lilly’s worldwide revenue of $28.5 billion.
Drug manufacturer grows amid contracting boom
Fishers-based INCOG Biopharma Services Inc., one of the newest players in the $132 billion contract drug manufacturing industry, acts as a behind-the-scenes player for companies that need to get sterile injectable medicines to market in a hurry.
State letting AES Indiana discharge toxic water into White River, group says
An Indiana environmental group says the utility is pumping more than 1 million gallons of contaminated water a day into the river from coal ash ponds at its Eagle Valley Generating Station in violation of the federal Clean Water Act.
Purdue-based biotech startup to hire 43 people at new Indy HQ
GeniPhys Inc. plans to lease 8,200 square feet in an existing 80,000-square foot industrial building at 7750 Zionsville Road in Pike Township as it sets up its operation.
Lilly to invest another $1.6 billion in Boone County site, add 200 jobs
The expansion will bring Eli Lilly and Co.’s total investment in the project to $3.7 billion, the most the company has ever spent on a single manufacturing site.