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    Ketan Paranjanpe

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Articles

Indianapolis building owners, managers pressed to protect birds

September 7, 2011

The Audubon Society has documented hundreds of birds killed downtown in the past two years as birds are attracted to the city lights and then fly into windows.

PANEL: Reforms to rapidly reshape health care

September 28, 2011

Reform-induced changes dominate health care panel of health care experts convened by Indianapolis Business Journal.

Kodak official: Company keeping R&D center in Ohio

September 29, 2011

Eastman Kodak Co. reportedly looked at relocating a 500-person research-and-development center to Indiana, but will instead stay put in Ohio, according to a company official.

Company news

October 3, 2011

Looks like Roche Diagnostics Corp. is finally getting clear of its troubles at the FDA. On Thursday, Switzerland-based Roche announced it won approval from the U.S. Food and Drug Administration for a new test strip that works with its Accu-Chek Aviva blood glucose monitors. Roche developed the new strip because its previous version of test strips used an enzyme that, in rare cases, could give a falsely high blood sugar reading. A falsely high reading, if acted upon with a correspondingly high dose of insulin, could be harmful or even fatal to some patients. The concerns of the FDA have kept Roche Diagnostics, which maintains its U.S. headquarters in Indianapolis, from getting new blood glucose monitor products approved in the United States, costing Roche market share here. For example, its Aviva Nano meter, which has sold well in Europe, has never hit the market in the United States. “This clearance is a significant milestone for our organization—one that will position us well for the clearance of other products in our pipeline," said Daniel O’Day, chief operating officer of Roche Diagnostics.

After trudging through nearly three years of soft demand, the Warsaw-based makers of orthopedic hip and knee implants—Zimmer, Biomet and DePuy—are unlikely to see a worldwide recovery before the end of 2012, according to a new report from Leerink Swann & Co. Analysts Rick Wise and Richard Newitter think the debt issues in Europe, the uncertain economy in the United States, and global economic pressures will lead many patients to continue to defer their hip or knee surgeries. “Looking out over the next 12-18 months, we are inclined to take a more cautious view regarding a possible growth rebound in large joint procedure volumes,” the analysts wrote. They predict a shrinkage in those surgeries in the third quarter of 0.2 percent and then modest fourth-quarter growth of 1.2 percent.

If this was meant to boost the stock price, it isn’t working. Since launching a $100 million share repurchase program in May, Carmel-based CNO Financial Group Inc. has purchased nearly 8.8 million common shares for a total of $55.7 million, the company announced last week. Also, for every dollar CNO spends buying its own stock, it also has to spend a dollar paying down its bank loans. But since the life and health insurer launched the repurchase program on May 16, CNO’s share price has fallen 29 percent, closing Friday at $5.41. Over the same time period, the broad Russell 3000 index has fallen 17 percent.

People in the news – Oct. 17, 2011

October 13, 2011

People listings are free.

Q&A

October 17, 2011

Sherry Keramidas, who earned her doctorate in neuroscience and physiological psychology from Purdue University, is executive director of the Maryland-based Regulatory Affairs Professionals Society, which is holding its annual conference Oct. 22-26 at the Indiana Convention Center.

Marketing firm 5MetaCom focuses on clients with technical needs

October 20, 2011

Owner Chris Wirthwein insists the Carmel firm with growing billings serves Indiana companies within a two-hour drive.

Indiana software firm growing with life sciences focus

October 26, 2011

RND Group fills development gaps for companies.

Bright Automotive signs AM General to build hybrid vans

October 28, 2011

The northern Indiana factory where AM General once made H2 Hummers could be building plug-in, hybrid cargo vans under a deal with Anderson-based Bright Automotive announced Friday.

AM General inks deal to build hybrid work vans

October 28, 2011

Anderson-based Bright Automotive said production of its Idea work van could start in 2013 or 2014 at AM General's Mishawaka factory. Up to 300 workers ultimately could be hired.

Glucose monitor deal helps Roche catch up

November 7, 2011

Roche Diagnostics will partner with a San Diego firm to incorporate its continuous glucose monitoring sensor with a wireless handheld device Roche is developing to help diabetics test their blood sugar and track their glucose levels throughout the day.

New York orders WellPoint to make refunds for overcharges

November 10, 2011

WellPoint is among 11 insurers ordered to refund money to almost 600,000 New Yorkers who were charged too much for health insurance.

Cancer-drug firm Endocyte to build commercial team in Indianapolis

November 10, 2011

Endocyte employs 12 people in Indianapolis and plans to add three or four more commercial executives there over the next year and a half as it anticipates approval of its ovarian cancer medication in Europe.

Potential Lilly drug doubles good cholesterol

November 15, 2011

Eli Lilly and Co.’s experimental drug doubled levels of good cholesterol in a study, setting up a race with Merck & Co. and Roche Holding AG to develop a new class of medicines to lower heart risk.

Angie’s List, Delphi to attempt IPOs in busiest week this year

November 16, 2011

U.S. initial public offerings are set to raise the most in six months in November as Delphi Automotive Plc and Angie’s List Inc. take advantage of the biggest rebound in the Standard & Poor’s 500 Index in 20 years.

Company news

November 21, 2011

Samy Meroueh, a professor of biochemistry and molecular biology at the Indiana University School of Medicine, will receive $720,000 over a four-year period from the American Cancer Society to fund his cancer research. Meroueh’s research focuses on uPAR, a cell surface receptor that exists only in cancer cells that metastasize, making it an excellent target for the development of drugs. Metastasis, or the spreading of cancer from one organ to another, is the main reason that more than 90 percent of patients succumb to cancer, according to Meroueh. With earlier funding from the National Institutes of Health, Meroueh’s lab in Indianapolis has identified small molecules that attach to uPAR on the surface of cancer cells in metastatic tumors. He is now concentrating his research on two experimental compounds to examine their ability to block metastasis of breast cancer in mice. Meroueh hopes to later link his compounds to existing chemotherapy agents to deliver them directly to cancer cells, while sparing healthy cells.

Eli Lilly and Co. has joined a race to launch a new class of drugs to lower heart disease risk. An experimental drug under development by Lilly doubled levels of good cholesterol in a Phase 2 clinical trial, according to Bloomberg News. Good cholesterol, or HDL, sweeps the bad form of the fatty substance, called LDL, out of arteries, helping to reduce clogs. Lilly’s drug, called evacetrapib, boosted HDL as much as 129 percent and lowered bad cholesterol as much as 36 percent, the Indianapolis-based drugmaker reported on Nov. 15. Two other companies—New Jersey-based Merck & Co. Inc. and Switzerland-based Roche Holdings AG, have already moved similar drugs to the third and final phase of human trials, according to Bloomberg. Both drugs are predicted to be blockbusters with more than $5 billion in annual sales if they are approved. All three rivals aim to avoid the toxicity seen with a previous good cholesterol drug from New York-based Pfizer Inc. that was abandoned in 2006 after it triggered deaths in a study.

The St. Vincent Heart Center of Indiana was named one of 50 cardiovascular hospitals in the country by market research firm Thomson Reuters. According to the firm, 97 percent of all heart inpatients at U.S. hospitals survive their procedures and 96 percent remain complication free. Still, the top 50 hospitals have even better results, including 23 percent fewer deaths for bypass surgery patients, a 40-percent lower rate of heart failure complications, fewer readmissions, shorter hospital stays and costs that were lower by $4,200 per patient. Thomson Reuters based its analysis on data from the 2009 and 2010 Medicare Provider Analysis and Review, which includes nearly all senior patients. The St. Vincent Heart Center was the only Indianapolis hospital named to the list this year.

FedEx launches Indianapolis-Mexico route

November 23, 2011

Government OKs cargo flights to Guadalajara industrial hub.

Marsh wins $19.5M judgment against Roche

December 20, 2011

A Hamilton Superior Court judge awarded damages to the local supermarket chain in a soured sublease deal it signed with Roche Diagnostics in March 2008.

Filing: Roche considered leaving Indy

December 23, 2011

It’s hard to believe now, but as recently as two years ago, Indianapolis was close to losing its 15th-largest employer. Roche Diagnostics Corp. was looking seriously at moving its 2,900-employee North American headquarters out of Indianapolis.

National life sciences law firm opens office here

January 5, 2012

New York-based Epstein Becker Green already has clients here, including Biomet and Roche Diagnostics.

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