A Marion Superior Court judge has appointed a receiver to manage the seven-story building in downtown Indianapolis that is facing foreclosure. A lender to the building’s owner claims it is owed $10.5 million.
WellPoint Inc. is likely to name an outsider as its next CEO, according to interviews with former executives and directors of the Indianapolis-based health insurance company. The person mentioned most often as a likely successor to ousted CEO Angela Braly is David Snow, who led New Jersey-based pharmacy benefit manager Medco Health Solutions Inc. until its $29 billion sale this year to St. Louis-based Express Scripts. Internal WellPoint candidates Wayne DeVeydt and Ken Goulet also will receive a thorough look from the board, but former company brass say they have not been fully readied to be CEO because the WellPoint board did not expect to have to replace Braly, 51, so soon.
Amerigroup Corp., the Medicaid managed care company being acquired by WellPoint, will sell its Virginia business to Virginia-based hospital system Inova to placate federal antitrust regulators, according to Reuters. The U.S. Department of Justice had requested additional information from both WellPoint and Amerigroup on their Virginia businesses, according to an announcement from Amerigroup on Friday. The sale to Inova is not expected to have an impact on WellPoint's $4.9 billion acquisition of Amerigroup. Both deals are expected to close in the fourth quarter.
Indianapolis-based Dow AgroSciences LLC said Friday that it has prevailed in a patent-infringement lawsuit involving one of the company’s key weed-control products. The suit, filed in December 2010 by South Africa-based Bayer CropScience SA, charged that Dow AgroSciences’ herbicide-tolerance technology infringed one of its patents. In the Sept. 27 ruling, a federal judge sided with Dow AgroSciences in its motion to have the case dismissed, determining that Dow’s Enlist weed-control technology did not infringe on the patent. Dow AgroSciences, a subsidiary of Midland, Mich.-based Dow Chemical Co., predicts Enlist could earn as much as $1 billion over its life cycle.
One of Indiana University's two new schools of public health has a new name. The school on the Indianapolis campus on Thursday was formally named the Richard M. Fairbanks School of Public Health. The Fairbanks Foundation last year gave IU $20 million to help establish the school, which evolved from the Department of Public Health in the IU School of Medicine. Another public health school is being established at IU's Bloomington campus. The Bloomington school will focus on rural communities, and the Indianapolis school will focus more on urban health and its connections to the medical school. IU spokeswoman Diane Brown says the Indianapolis school will accept its first new students next spring. Some already are working toward degrees that will be offered by the new school.
The National Institute on Disability and Rehabilitation Research has designated the Indiana University School of Medicine and the Rehabilitation Hospital of Indiana as one of 16 sites in its Traumatic Brain Injury Model System. The designation comes with a five-year, $2.1 million grant to the medical school and the rehab hospital, which is a joint venture of the IU Health and St. Vincent Health hospital systems. Health care providers will use the federal grant money to study the effectiveness of the drugs Buspar and Vanspar in treating irritability and aggression that occur in some traumatic brain injury patients. Researchers at IU and the rehab hospital also hope to develop standard measures to assess the impact of aggression and irritability.
Gene Tempel, president and CEO of the Indiana University Foundation since 2008, has been appointed the first dean of IU’s new School of Philanthropy, the university announced Friday.
With health insurance premiums continuing to outstrip inflation, some health insurers and hospital systems are considering bringing back an old strategy: limiting patient access to a “narrow” network of doctors and hospitals.
John Gregg is at it again. In a gubernatorial campaign marked by dishonest attacks on GOP nominee Mike Pence, Gregg’s newest ad shows him under an umbrella with water running off it. Gregg, speaking in Mr. Folksy mode, tells us Pence wants to spend Indiana’s entire “rainy day” fund. Citing his experience as former Vincennes University president, Mr. Folksy warns this is a bad idea, one more way Pence threatens education.
Regenstrief study finds many visit two different facilities within year’s time.
Efficiency expert Manny Mendez, who has saved the city $4.9 million since 2008 through Six Sigma practices, is now scouring government operations in search of $15 million more.
While WellPoint Inc. and its predecessors have a history of grooming new CEOs in-house, the next leader of the health insurance giant is likely to be an outsider, according to interviews with more than a half dozen former directors and officers of the company.
Four railroads in region being purchased by Connecticut-based operator as part of $2 billion deal.
Federal and state prosecutors have collected more than $30 billion from drug companies for alleged fraud and illegal marketing over the last 20 years, according to a new report by consumer advocacy group Public Citizen.
The most critical issue for District 7 residents is the economy. We need to redouble our efforts to create an environment for greater job growth. Mayor Ballard has done an excellent job of attracting investment domestically and by building partnerships throughout the world in this global economy. However, he needs a stronger partner in Washington.
In Indiana and other states, we face a sobering reality: Far too few students are prepared for college-level coursework.
In the decade of the Great Depression, the 1930s, the population of Indiana grew 5.8 percent. Later, in the 1970s, a decade of great economic turmoil, the state’s population advanced 5.7 percent. The 1980s saw a strong recession and a subsequent restructuring of American business; Indiana’s population grew a mere 1 percent.
Chicago-based recruiting firm Spencer Stuart & Associates Ltd. has previously led executive and board director hunts for companies including Facebook Inc., Comcast Corp., Talbots Inc. and Hewlett-Packard Co.
You know things are bad in the fiercely competitive pharma industry when drugmakers start turning to each other for help. But that’s exactly what happened last week when 10 major drug companies—including Eli Lilly and Co.—joined forces to cut costs out of clinical trials.
IUPUI economics professor Richard Steinberg stands by his philanthropic theory, despite seeing his fundraising principles speared by a charity watchdog group and then by a cable news network. At issue is his belief that charities are justified in spending heavily on fundraising, because doing so positions them for long-term success.
Using banks as a sales channel also boosts business in what has been a languishing product segment.
Luxury outlet malls—where upscale retailers such as Coach Inc. and Michael Kors Holdings Ltd. hawk discount goods—are now the main source of expansion for the Indianapolis-based real estate investment trust, the country’s largest.
The university believes its School of Philanthropy will be the first in the world. The school will offer bachelor's, master's and doctoral degrees.
A trio of Indy theater productions looks at the good in the bad and the bad in the good
