KAR Auction Services riding the wave of auto recovery
Early investors in KAR Auction Services are looking savvy. Since November 2012, KAR shares have marched steadily higher, rising from $12.25 to nearly $29.
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BURNS: Music therapy hits the high notes
It’s a common and natural occurrence: A song comes on the radio and you instantly recall memories—perhaps it makes you smile or remember old friends, or it just takes you back to a moment in your life.
VAUGHN: Ag gag and its euphemisms are back
One of the most controversial proposals to emerge at the 2013 General Assembly has resurfaced as the topic of a summer study committee. Late last month, the Interim Study Committee on Economic Development focused on ag gag legislation that would make it a crime to expose illegal, inhumane or unsafe conditions at factory farms in Indiana.
SIDDIQUI: Conflict, ideology devalue education
Recent ISTEP test scores seem to indicate a correlation between academic success and economic prosperity. These test results show that school districts in affluent neighborhoods have better scores than schools in poorer neighborhoods.
SHEPARD: Great places draw the young, innovative
Our public dialogue about competing with other states often focuses on development tools, tax policy, infrastructure and the like. These are surely some of the hard-edge elements of any sensible approach to building Indiana’s economic future.
Q&A: Weather expert sees free-market solution to climate change
Paul Douglas describes himself as a data-obsessed meteorologist, entrepreneur, author, a Republican, a devout Christian, and a global climate change skeptic-turned-believer. Douglas spent 11 years as a TV weatherman for NBC’s affiliate in Minneapolis, Minn. While there, he launched a company that produced software for 3D weather graphics. The technology caught the attention of Steven […]
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The federal Medicare program has decided, at least for now, not to reimburse health care providers who conduct diagnostic imaging tests using an Eli Lilly and Co. imaging agent that can help identify the presence of Alzheimer’s disease. Medicare will pay for those scans if they are part of a clinical trial of a drug and will consider paying for broader use in the future. But Indianapolis-based Lilly, as well as the Chicago-based Alzheimer’s Association, had been hoping for wider reimbursement now. The Alzheimer’s Association noted that it typically takes seven years for a procedure to move from clinical-trial-only reimbursement to broad reimbursement. The narrower use of Lilly’s agent, which is called Amyvid, is a small hit financially for Lilly. The bigger impact is that Lilly hoped wide use of Amyvid could help it and other companies bring drugs to market to treat Alzheimer’s. Since there are currently no effective treatments for the disease, any drug that did help with treatment would be an instant blockbuster. Lilly’s experimental drug solanezumab could have sales topping $4 billion annually if it proves effective in patients with mild Alzheimer’s disease. The drug failed its clinical trials last year when tested in a mix of mild and moderate Alzheimer’s patients, but it showed encouraging results in patients with only mild Alzheimer’s disease. The only way to identify such patients is by using a special kind of imaging test that will show deposits of a protein called amyloid—which is one of two telltale signs of Alzheimer’s disease. The imaging test is called PET, or positron emission tomography. Before Amyvid, however, the only way to view these plaques was during an autopsy.
Cancer drug Erbitux, which is partly owned by Indianapolis-based Eli Lilly and Co., extended the lives of patients with a form of advanced colon cancer more than seven months longer than those taking Roche Holding AG’s Avastin, according to clinical trial results released Saturday. According to Bloomberg News, the results were presented at a scientific conference in Europe by Germany-based Merck KGaA, which sells the medicine outside North America. Lilly and New York-based Bristol-Myers Squibb Co. market the drug in the United States. Erbitux generated sales for Merck of $1.2 billion last year, while Lilly realized $400 million in revenue from the drug in 2012. According to Bloomberg, the findings suggest that Erbitux, already approved in Europe as a treatment for patients with so-called KRAS wild-type tumors, may have a role in a subgroup of patients with so-called RAS wild-type cancer.
Purdue University chemistry professor Graham Cooks, whose research has played a role in the launch of several Indiana startups, was awarded the 2013 Dreyfus Prize in Chemical Sciences, the highest award possible for a chemist, during a ceremony last week. Cooks won the prize and its $250,000 payment for his innovations in the fields of mass spectrometry and analytical chemistry. Cooks and his team have fine-tuned the tools for molecular imaging for cancer diagnostics and surgery; therapeutic drug monitoring; testing for biomarkers in urine; and the identification of food-borne pathogens, bacteria, pesticides and explosives residues. His research has contributed to the technology developed by Griffin Analytical Technologies Inc., Prosolia, Inc. and InProteo LLC.
In a big disappointment, Indianapolis-based Eli Lilly and Co. reported that its experimental cancer drug ramucirumab proved no better than a placebo as a treatment for breast cancer. According to the Associated Press, the Indianapolis-based firm no longer plans to seek regulatory approval for the drug as a treatment for patients with a form of breast cancer that has spread. However, Lilly will seek approval to use ramucirumab in combination with chemotherapy in stomach cancer patients after ramucirumab performed better in a separate study on those patients. Ramucirumab extended both overall and progression-free survival times for patients with advanced gastric cancer. Lilly will seek approval from regulators for that use. It also is studying ramucirumab in colorectal and lung cancers and expects more late-stage research results next year. Ramucirumab is one of Lilly’s best hopes to produce new revenue to offset the loss of sales it has been suffering since the 2011 patent expirations on its then-best-seller, Zyprexa, and the patent expiration coming at year’s end on its current best seller, Cymbalta.
ADAMSON: Close the obsolete Harding Street plant
In recent years, our city’s civic and business leaders have put much effort into attracting and retaining young professionals, those young singles who prefer city life, dining out and environmental causes.
Stick to business reporting
I’m puzzled by your [Sept. 16] stories “The Brain Drain is a Myth” and “Too Few Jobs for Science, Tech Graduates” and their excessively academic focus on the very practical issue of why there are too few Hoosiers working in high-paying jobs to power our state’s future.
KENNEDY: We need to learn to fight fair
In Florence, Italy, in one of that city’s many museums, there is a famous marble statue of Hercules and Diomedes wrestling. One of them—presumably Hercules—has his hands around the testicles of the other, and ever since we first saw it, my husband has referred to it as the “fight fair, dammit” statue.
Alzheimer’s targeted in $45M government study grant
Part of the funding will go to an existing study of drugs from Eli Lilly and Co. and others to see whether they can ward off the disease in people who inherited genes that predestine them to get Alzheimer’s.
IBJ Real Estate Power Breakfast transcript
Indianapolis Business Journal gathered leaders in the state's commercial real estate and construction industry for a Power Breakfast panel discussion Sept. 13. The following is an unedited transcript of the discussion.
Mall owners go from first to last in REIT market
Shopping mall owners like Simon Property Group, the best-performing U.S. property stocks for four years, have tumbled to the worst as sluggish retail sales and limited opportunities to expand drive investors to look elsewhere for earnings growth.
GOODRICH: Don’t delay sewer, water upgrades
Indianapolis has largely reinvented itself over the last four decades. Most of our modern skyline—the major office towers and hotels that define downtown—came about in the last 20 years. The IUPUI campus took shape in the early 1970s and has continued to grow. The sports venues that helped put us on the map, the vast convention center, our impressive new airport terminal—all built within a generation.
Drugmakers turn up marketing efforts in diabetes market
With a half-dozen new products lined up for approval within two years, the fight to win the growing $22 billion U.S. diabetes market is expected to intensify.
New school to anchor Central State project
The first new non-residential building at the former Central State Hospital campus, at the corner of West Washington Street and Tibbs Avenue, will be a charter school. Christel House Academy West broke ground last month on about nine acres donated by the city.
Duke Energy to retire five Indiana coal-fired plants by 2018
A state administrative law judge oversaw the settlement, which was signed Wednesday by Duke Energy, the Sierra Club, Citizens Action Coalition, Valley Watch and Save the Valley.
RACE: City, state planning must account for climate change
There’s a heavy cost associated with ignoring the environment as we envision our future.
Small biz owners: Unemployment systems not working
Business owners told members of the Indiana General Assembly’s Small Business Caucus that there’s a problem: They can’t compete with public assistance programs.