Lilly agrees to pay $29.4M to settle SEC bribery charges
According to a statement released by the SEC, Eli Lilly paid $6.5 million—and in some cases gave jewelry and spa treatments—to win government contracts in Brazil, China, Russia and Poland.
According to a statement released by the SEC, Eli Lilly paid $6.5 million—and in some cases gave jewelry and spa treatments—to win government contracts in Brazil, China, Russia and Poland.
Indianapolis Power & Light says beginning next March it will stop offering to buy electricity from customers who generate it from renewable sources—a blow to advocates of wind, solar and other clean forms of energy.
Dave Menzer, director of the Sierra Club’s new “Beyond Coal” campaign in Indiana, aims to spark discussion about the health and environmental costs of the state’s bituminous bounty that for years has brought relatively cheap electric rates.
The City-County Council is set to hear a proposal by two companies to lease space on city-owned rooftops and sell electricity generated by solar panels installed in those spots.
The city is guaranteed $7.5 million in savings over 15 years from a $18 million upgrade of city facilities, and the savings are expected to accumulate further.
Gov. Mitch Daniels has built a national image as a persnickety fiscal manager with an eye for detail, but two massive accounting errors that have tilted Indiana's books by more than half-a-billion dollars threaten to tarnish that reputation as the popular Republican prepares to leave office.
Indianapolis-based Strand Diagnostics LLC will receive up to $30 million in investment capital over the next three years from Los Angeles-based NantWorks LLC, a seed-stage investment firm, the companies announced last week. Strand Diagnostics makes the Know Error system, which uses bar coding and DNA matching to make sure biopsy samples are matched to the correct patients when submitted to its labs for testing. The investment capital will help it scale up its operations and sales efforts, the company said in a news release. NantWorks is the same company that announced in January it would sink $85.5 million into a former Pfizer Inc. plant in Terre Haute to produce injectable drugs for use in cancer patients and in critical care situations. NantWorks predicted the plant would employ 234 people by 2016. Strand Diagnostics, which operates a testing lab south of Indianapolis International Airport, launched Know Error in 2009. The company has 58 employees, with 48 of them in Indiana.
The Federal Trade Commission gave the OK to the marriage of Express Scripts Inc. and Medco Health Solutions Inc., two pharmacy benefit managers that combined employ 800 people in the Indianapolis area. The $29 billion deal, according to Bloomberg News, would create the nation’s biggest manager of prescription-drug benefits for corporate and government clients. But it is unclear how the merger will affect staffing at St. Louis-based Express Scripts' facility near Indianapolis International Airport and Medco’s distribution center near Whitestown. A combined Express-Medco would handle 34 percent of prescriptions in the U.S. this year, according to Adam Fein, president of Pembroke Consulting Inc. in Philadelphia, who is a consultant for Express Scripts. However, that share will shrink to 29 percent next year because Minnesota-based UnitedHealth Group Inc. switched from Medco to its own pharmacy benefits unit, OptumRx.
Federal authorities charged a Carmel man on Friday with using his Indianapolis business to defraud the Indiana Medicaid program of more than $1 million. Donald Hamilton, 49, allegedly used his company, Hamilton Medical Inc., to generate false invoices showing that compression stockings for another of his companies, Indianapolis-based Compression Etc., cost almost three times what he paid for them. Hamilton sent invoices to the Indiana Medicaid program for reimbursement for an amount much higher than allowed by law, according to charges announced by Joseph Hogsett, U.S. attorney for the Southern District of Indiana. He said the investigation was a collaborative effort among the Department of Health and Human Services, Federal Bureau of Investigation, the Internal Revenue Service’s criminal investigations unit and the Indiana Attorney General’s Medicaid fraud control unit.
Roche Diagnostics Corp. plans to eliminate about 80 information technology jobs at its Indianapolis-area campus over the next two years. The first round of reductions is to be completed by June 30. The IT workers are actually part of Roche Group’s global pharmaceutical informatics unit, but live in the Indianapolis area, said Roche spokeswoman Julie Bower. Roche employs about 3,000 people at its Indianapolis and Fishers facilities. The company’s worldwide headquarters are in Basel, Switzerland.
Warsaw-based orthopedic implant maker Biomet Inc. agreed to pay $22.7 million to settle allegations that it bribed government-employed doctors in Argentina, Brazil and China for more than eight years to win business with hospitals. The Justice Department and the Securities and Exchange Commission announced the settlements March 26. Biomet will pay a $17.3 million criminal penalty but won't be prosecuted by the Justice Department if it institutes strict internal controls to prevent bribery and hires an expert to monitor its compliance for 18 months. Biomet, which operates in about 90 countries, also agreed to pay $5.4 million in restitution to resolve the SEC's civil charges. Biomet is the third medical device company—in addition to New Jersey-based Johnson & Johnson and U.K.-based Smith & Nephew plc—to pay a criminal penalty and sign a deferred-prosecution agreement in the government's investigation into bribery by medical device makers of doctors employed by governments overseas.
Indiana-based Biomet Inc. has agreed to pay $22.7 million to settle U.S. criminal and civil allegations that it bribed government-employed doctors in Argentina, Brazil and China for eight years to win business with hospitals.
Led by Jesse Kharbanda, the Hoosier Environmental Council is keeping its agenda lean to boost chances for success in short session.
Electric-car battery maker Ener1 Inc., whose shares were delisted from the NASDAQ stock market Oct. 28, is the latest recipient of U.S. Energy Department aid to run into financial trouble and draw congressional scrutiny.
The city has put out a request seeking companies or teams of firms qualified to install solar photovoltaic systems at three of its public works buildings and garages.
In a monthly feature that runs in the first issue of the month, through October, IBJ is identifying influential players in eight different industry categories. This month, our list draws from among the city’s finest legal minds in education, public-sector law, the judicial system and the broad swath of attorneys practicing solo and in firms of all sizes.
Carolyn Mosby brings a wealth of experience to the Indiana Minority Supplier Development Council, which she hopes to lead to the next level of success.
A group of local power brokers is quietly assembling a plan that would transfer control of Indianapolis Public Schools to the mayor.
The firm was a pioneer in the energy savings niche more than a decade before green became cool or was perceived to be a viable
market.
City-County Building energy-efficiency upgrades are set to be unveiled Tuesday afternoon. The nearly 50-year old landmark is the centerpiece of the city's greener-building initiative.
The firms continued to grow over the last year but face increasing challenges, according to a new report by Indianapolis-based
life sciences trade group BioCrossroads.
Indianapolis’ Office of
Sustainability has begun evaluating recommendations on ways to make 70 city-owned buildings more "green." Among
the ideas: mounting
wind turbines or solar panels at the City-County Building.
Within weeks, EnerDel expects to receive notification that it’s getting as much as $480 million in financing under a U.S.
Department of Energy program aimed at fostering advanced vehicle manufacturing.
Chrysler LLC filed for Chapter 11 bankruptcy protection in New York today and will form an alliance with the Italian carmaker Fiat Group SpA in an effort to revive the nation’s ailing third-largest automaker. The move will idle Chrysler production workers across the nation for 60 days or more, including about 6,000 employees in Indiana […]