MYERS: The unvaccinated are putting society at risk
Individual liberty has limits when the health of the public is at stake.
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Ozdemir emerges as powerhouse in Indianapolis real estate
Keystone Group, Turkish immigrant Ersal Ozdemir’s 10-year-old development firm, is orchestrating some of central Indiana’s most ambitious projects, including a $15M Broad Ripple parking garage and the $60M million mixed-use Sophia Square in Carmel.
Lilly gets good news on insulin
Decision by industry giant Pfizer Inc. to abandon its generic insulin project is good news for Eli Lilly and Co.
Company news
Indianapolis-based Prosolia Inc. has licensed technology from the estate of John B. Fenn, a chemistry professor who won the 2002 Nobel Prize for developing new mass spectrometry. Prosolia makes instruments that can identify chemicals on paper, skin, fluids and other surfaces. The eight-person firm hopes the technology allows it to launch new products next year to broaden its portfolio. Prosolia CEO Justin Wiseman said the Fenn technology “opens up less-penetrated markets in environmental, security, medical and food chemistry. We foresee several new product innovations from the Fenn technology, which we plan to commercialize in the near future."
Carmel-based CNO Financial Group Inc. has agreed to repay five customers more than $1 million that a former independent insurance agent stole from them, according to a report by A.M. Best Co. Jasmine Jamrus-Kassim sold annuities for Chicago-based Bankers Life and Casualty Co., a subsidiary of CNO Financial. She was arrested in March 2011 after an investigation by Washington state insurance regulators and has now been sentenced to six years in prison. The victims, age 74 to 90, thought the money was being reinvested but Kassim instead spent it to pay for online psychics, clothes, jewelry and a trip to Mexico, according to records from the Washington investigation.
Endocyte Inc. will submit its ovarian cancer drug EC145 for European market approval in the third quarter after the European Commission granted it "orphan drug" status. The submission means West Lafayette-based Endocyte could have its first commercial product as early as 2013. European regulators granted EC145 orphan status because large numbers of women have ovarian cancers that do not respond to typical chemotherapy treatments. And no new drug has been approved to treat ovarian cancer in 10 years. The European Commission also granted orphan status to an imaging agent Endocyte has developed, called EC20, which lights up ovarian tumors in women that have a genetic variation that makes them bond hungrily to folate. That’s important because EC145 is a combination of a powerful chemotherapy agent and folate, so that it enters cancerous cells but does not enter healthy cells. That allows EC145 to be more deadly to cancer, without serious side effects, than patients can tolerate with traditional chemotherapy agents.
A four-physician OB/GYN practice has merged with Indiana University Health Ball Memorial after a long-standing partnership. The Voss Center for Women of Muncie joined the IU Health system March 1. In addition to its four doctors, the practice includes four nurse practitioners. Hospitals are increasingly employing physicians, as financial pressures increase on independent practices and as reimbursement from public and private health plans encourages doctors and hospitals to work more closely to improve patient health.
HETRICK: Mega Millions and taxes inspire daydream believers
In the midst of Mega Millions mania, statisticians were telling would-be bettors that the odds of winning the big jackpot were far lower than the odds of being struck by lighting.
Lilly wins FDA approval for Alzheimer’s imaging agent
The agent, called Amyvid, is not expected to produce high-dollar sales for Lilly, but it could help to identify patients with Alzheimer’s—and those without it—earlier, perhaps improving treatment and focusing research efforts.
New Lilly drug has small sales potential
Eli Lilly and Co.’s newest drug is a boon for Alzheimer’s research but is likely to bring the Indianapolis drugmaker less than $100 million in annual sales—at least initially, according to one of the few analysts to make a forecast.
MYERS: Male circumcision is nowhere near clear-cut
Indiana still has one of the highest circumcision rates in the nation, at 82 percent.
Indy is poster child (again) for medical arms race
Indianapolis was highlighted in a new national study because its hospitals have been particularly aggressive at expanding their geographic reach—raising concerns among health insurers and even hospitals themselves that new medical facilities and market power can only lead to higher prices.
WellPoint enrolls IBM supercomputer at IU medical school
IBM’s supercomputer Watson is already a “Jeopardy!” champion. Now, three doctors in Indianapolis are trying to teach it how to treat cancer.
People
Katherine Peck has been named executive associate dean for administration, operations and finance at the Indiana University School of Medicine. Peck was associate dean of financial services at the University of Florida College of Medicine. Before joining the University of Florida in 2000, Peck was the controller for several private companies in a variety of industries including biotechnology, manufacturing and environmental waste management. Peck holds a bachelor’s degree from Oberlin College and an MBA from Yale University School of Management.
Dr. Glenn Dobbs will provide obstetric services at Franciscan St. Francis Health’s Mooresville hospital. The arrival of Dobbs and the physician group he belongs to, Southside OB-GYN, helps Franciscan avoid a gap in obstetrics in Mooresville. The physician group that provides those services, Southwest Women’s Health, is scheduled to end its relationship with Franciscan-Mooresville in May. Dobbs, who specializes in high-risk obstetrics, did his medical training at Western University of Health Sciences in California.
Trend lines look good for WellPoint
More people have jobs and yet the use of health care remains stagnant—which should drive nice profits when WellPoint Inc. reports first-quarter earnings on Wednesday. The trends even have some wondering if consumer-driven health plans are finally starting to make a real difference in Americans’ health care spending habits.
IU doc group becomes Eskenazi Medical
A group of 123 doctors, nurse practitioners and physician assistants have formed the Eskenazi Medical Group in order to focus on maximizing patient care and related bonus payments at Wishard Health Services.
Company news
A $100 million partnership will instead produce only $15.5 million after the California-based Alfred E. Mann Foundation for Biomedical Engineering requested to end its agreement with the Purdue Research Foundation. In 2007, the Mann Foundation pledged to fund a $100 million endowment to create and support the Alfred Mann Institute at Purdue University to commercialize Purdue technologies through seed-stage funding and business guidance. But now the Mann Foundation’s focus is changing, its president, David Hankin, said in his only publicly stated reason for the change. Since 2008, the Mann Foundation has given Purdue $15.5 million to advance 11 different technologies. The effort has helped launch such companies as QuantIon Technologies Inc., SpeechVive Inc., ImpactGuard and BioRegeneration Technologies LLC. Purdue will continue to operate the Alfred Mann Institute, which has provided a model for commercializing technologies it is now applying throughout the university.
Henry County Hospital in New Castle opened a Cardiovascular Center this month as a joint venture with the Indianapolis-based St. Vincent Heart Center of Indiana. St. Vincent will provide some of the specialist physicians at the new center. The center will focus on diagnosing and rehabilitating heart patients, and will refer complex cases to the St. Vincent Heart Center for treatment.
Indiana University Health announced Tuesday that it will give $75 million in additional funding over the next five years to ramp up research at the Indiana University School of Medicine and launch more clinical trials around the state. The IU medical school will contribute non-cash resources valued at $75 million toward the effort, which will focus on research in cancer, cardiology and neuroscience. The goal is to expand access to cutting-edge clinical trials to IU Health’s 20 hospitals around the state, as well as to attract the next generation of bright minds to do their research and clinical work in Indiana. IU Health already spends $16.5 million a year on research, according to a report issued last year. The new initiative will nearly double that amount. Much of that money goes to the IU medical school, which is a distinct organization from IU Health, but works closely with the hospital system. The IU medical school attracts $280 million in annual research funding from all sources. The new money will flow to roughly 10 projects, which already have been approved by the IU Health and IU medical school’s boards of directors.
RepuCare Inc., a health care staffing firm, said Wednesday it plans to expand its Indianapolis headquarters, creating up to 82 jobs by 2015. RepuCare already has begun hiring additional employees in health care, account management and administration. The company now has about 50 full-time and 50 part-time employees. Founded in 1995, RepuCare provides staffing services to government health plans, hospitals, outpatient clinics and nursing homes, as well as on-site health care services to employers. The company's notable customers include WellPoint Inc., Eli Lilly and Co., Howard County, and the cities of Indianapolis and Kokomo.
Sales and profits were flat in the first quarter at Warsaw-based Zimmer Holdings Inc., the maker of orthopedic implants reported on Thursday. Profit for the quarter totaled $209.6 million, or $1.17 per share, up 0.3 percent from the same period a year ago. Revenue rose 2 percent, to $1.14 billion. Sales grew 10 percent in Zimmer’s Asia-Pacific regions, but increased just 1 percent each in the Americas and Europe. Zimmer expects to earn full-year profits of $4.70 per share to $4.90 per share, a nickel per share less than an earlier forecast, due to the impact of foreign exchange rates.
First-quarter profits tumbled at Eli Lilly and Co. but were better than either analysts or the company expected. That prompted Lilly to boost its full-year profit forecast 5 cents to 10 cents per share. Lilly’s revenue and profit have been falling after it lost patent protection on two blockbuster drugs: the cancer drug Gemzar in late 2010 and the antipsychotic Zyprexa in late 2011. Lilly’s profit in the first quarter totaled $1.01 billion, or 91 cents per share, down from $1.06 billion, or 95 cents per share, in the same quarter a year ago. Wall Street analysts were expecting 78 cents per share in the most recent quarter, according to a Thomson Reuters survey. The decline in profit was actually much larger than it seemed. A year ago, Lilly booked some one-time charges for research deals with other companies and for reductions in personnel. Excluding all such charges in both years, Lilly’s per-share profit would have fallen nearly 26 percent, from $1.24 per share in the first quarter a year ago to 92 cents per share this year. For all of 2012, Lilly now expects per-share profit in a range of $3.15 to $3.30, excluding a penny-per-share charge taken in the first quarter for a one-time restructuring move.
First-quarter profit declined nearly 8 percent at WellPoint Inc., but the health insurer beat analysts’ expectations and raised its full-year profit forecast a nickel per share. The Indianapolis-based company posted earnings of $857 million, or $2.53 per share, down from $927 million, or $2.44 per share in the same period a year ago. The per-share profits increased because WellPoint has reduced its total shares 10 percent through an aggressive buyback program. Excluding investment gains, WellPoint would have earned $2.34 per share. On that basis, Wall Street analysts were expecting $2.27 per share, according to a survey by Thomson Reuters. WellPoint said gains from its senior business improved, as the company recovered from mispricing some of its Medicare Advantage policies last year. But overall membership in its health plans declined in the quarter by 600,000. WellPoint expects that total to drop another 100,000 during the rest of the year.
Set pricing helps boost diagnostic network’s growth
When the same MRI at one facility costs $600 and at another costs $2,200, Dr. Robert Gregori would call that a business opportunity.
Quest to rein in health care costs gives momentum to on-site clinics
Health care firms have opened a flurry of clinics at Hoosier employers the past two years as businesses increasingly embrace the concept as a way to restrain employee health costs.
Q&A
Dr. Malaz Boustani, the medical director of Wishard Health Services’ Healthy Aging Brain Center, thinks pop-up alerts for physicians that are part of many electronic medical record and e-prescribing systems are ineffective and need to be re-engineered.
People
The board of directors of the Community Physician Network named Dr. Ramarao Yeleti president of the newly formed organization and named Dr. Ernest Asamoah chairman of the board. The physician network includes more than 500 physicians employed by the Community Health Network hospital system. Yeleti, a cardiologist, did his medical training at Northeastern Ohio Universities College of Medicine. Asamoah, an endocrinologist, earned his medical degree at the University of Ghana Medical School.
Lilly: Forget Alzheimer’s; think diabetes
For more than a year, Eli Lilly and Co. has been viewed by investors as a laggard stock with one, slim shot at producing a huge jackpot: its experimental Alzheimer’s drug. But now company leaders are trying to direct investor attention toward the drugmaker’s diabetes portfolio.