City development officials were outraged last year to learn that the Indy Land Bank allowed investors to circumvent a public bidding process for real estate by working through a not-for-profit entity. Yet they continued to approve Land Bank transactions with not-for-profits.
Though issues like Medicaid expansion and reducing the income tax were most visible during the recent legislative session, the General Assembly may have also set the stage for substantial future shifts in how Indiana goes about producing a work force prepared for the 21st century economy.
Reggie Walton and Mark Zuckerberg have one thing in common.
The move, part of a statewide effort to streamline operations and save money, will leave 27 Old National branches in the nine-county area.
Aggressive construction wiped out historical territories, thus opening the door to insurers playing hospitals off each other.
The $360 million initiative will be formally launched on Thursday by Gov. Mike Pence, executives of five major life sciences companies and officials of the state’s research universities.
Managing Director Steven Stolen will leave the repertory theater for a position with Rocketship Education. Other local performing arts executives stepping down are John Pickett of the Indianapolis Opera and Kirk Trevor of the Indianapolis Chamber Orchestra.
Square-jawed news veteran Walt Maciborski will step down from the 5 p.m. newscast on Friday to take a similar gig in his adopted hometown of Austin, Texas.
Carmel-based Mainstreet Property Group plans to build a 100-bed “health care resort” on seven acres at 5404 Georgetown Road, according to a tax-abatement request filed with the city. The $9.25-million, 65,000-square-foot nursing-home and assisted-living facility would feature an Internet cafe, movie theaters and restaurant-style dining with an on-site chef, spokeswoman Kate Snedeker said. Seventy of the beds would be for skilled nursing and 30 for assisted-living residents. Mainstreet would lease the property to a third-party operator, which hasn’t been identified. Mainstreet estimates the operator would employ 80 people earning an average $17.30 per hour. Mainstreet is seeking a three-year property-tax abatement that would save the company about $468,000, according to a preliminary resolution that goes before the Metropolitan Development Commission on June 5.
Indiana University and Purdue University joined nine other members of the Big Ten athletic conference June 1 to form the Big Ten Cancer Research Consortium. The schools intend to conduct collaborative clinical trials to develop insights and products to treat cancer. Indianapolis-based cancer research organization Hoosier Oncology Group will serve as administrative headquarters for the consortium. Since 1984, Hoosier Oncology Group has initiated more than 150 clinical trials with more than 4,000 patients. “The advantage of this, particularly during a time of austerity for research, is that we can build upon the strengths of the institutions and fortify some of the shortcomings,” Dr. Patrick Loehrer, director of the IU Melvin and Bren Simon Cancer Center, said in a prepared statement.
Eli Lilly and Co. suffered a setback on one of its attempts to win approval for new indications for its blockbuster lung cancer drug Alimta. The drug did not extend progression-free survival times longer than the old chemotherapy drug paclitaxel when studied in a clinical trial of patients with nonsquamous non-small lung cancer. Paclitaxel, or Taxol, was given to patients with two other chemotherapy agents, carboplatin and bevacizumab. Alimta was given to patients along with carboplatin. Alimta had nearly $2.6 billion in global sales last year, but its rate of growth slowed to just 5 percent. Lilly hoped a new indication would reignite Alimta growth rates, helping it offset revenue Lilly will lose in the next year as patents on its drugs Cymbalta and Evista expire. Alimta, by contrast, has patents that will likely extend its life through 2021.
Scott Miller, who resigned from the chamber post after less than two years to follow his entrepreneurial bent, will help two local startups get off the ground.
While Indiana’s governor, legislature and life sciences executives are united behind the proposed Indiana Biosciences Research Institute, the state of Michigan has a cautionary tale to tell about such an effort.
ExactTarget, an Indianapolis-based digital marketing company, is fetching $33.75 per share—a whopping 53-percent premium to where its stock closed Monday.
ExactTarget CEO Scott Dorsey said the company will remain “very committed to Indianapolis” after its $2.5 billion buyout by tech giant Salesforce.com, but he would not comment on potential changes to the local work force of more than 1,000 employees.
Shares of the California-based cloud computing giant continue to lag after last week’s announcement of its $2.5 billion offer for Indy-based marketing powerhouse ExactTarget.
New analysis shows Obamacare would cut state’s uninsured rolls 49 percent, compared with just 18 percent if Gov. Mike Pence opts out of a Medicaid expansion.
While Bloomington-based medical-device maker won approval for new bile duct stent, it has recalled its hot-selling arterial stent from all global markets.
The once-promising firm that had planned to build high-tech police cars at a Connersville plant filed for bankruptcy Friday, listing liabilities of $21.7 million.
Sometimes, the more we learn, the more complicated things get.
