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Steak n Shake loses appeal over franchisee’s pricing

A longtime Steak n Shake franchisee who sued the chain after it insisted on setting prices for menu items prevailed again Friday as the 7th Circuit Court of Appeals affirmed an Illinois federal court’s ruling in the franchisee’s favor.

Lilly wins appeal upholding patent for Alimta cancer drug

Eli Lilly and Co. won a U.S. appeals court ruling that upholds the validity of a patent for the lung-cancer drug Alimta and blocks generic competition through 2017. Alimta generated $2.5 billion in sales last year.

$100M IU neuroscience center set to open

A $100 million neuroscience center Indiana University officials say will offer a "one stop shop" for patients recovering from head and spinal injuries, strokes and other medical conditions is days away from opening its doors in Indianapolis.

Second body found in grave

Indianapolis police have found a second body in a shallow grave on the city's east side. The remains were found as police were removing the first body. Those remains were discovered by a man looking for a dog just after midnight Wednesday. Police say the first body has been confirmed to be a man with a head injury, but it hasn't been identified. An autopsy was also being conducted on the second body Thursday.

Three injured in house fire

A house fire on the south side of Indianapolis late Thursday sent three residents to a hospital with minor injuries. Firefighters were called to the scene near Carson Avenue and Bacon Street at about 11:20 p.m. It's not clear how the fire started. Arson investigators were been called to the scene.

Suspects on loose after armed robbery

Two men remained on the loose Friday after assaulting a gas station clerk during an armed robbery, according to Indianapolis police. It happened at about 1:15 a.m. at the Ricker’s BP gas station at West 71st Street and Corporation Drive. Police say the suspects forced the clerk into a closet and pistol-whipped him, injuring his head, before fleeing with cash from the register.

KAR Auction Services mum on leveraged buyout talk

Carmel-based KAR Auction Services Inc. isn’t commenting on a report by Reuters that it is talking with private equity firms about taking the company private for the third time in its 30-year history.

WellPoint CEO’s critics suggesting replacements

Another plea for the ouster of WellPoint CEO Angela Braly is spurring discussions among investors and analysts about a replacement. Top suggestions include James G. Carlson, the chief of Amerigroup Corp., and David B. Snow Jr., the former chief of Medco Health Solutions Inc.

North-side office building falls into foreclosure

A nearly 100,000-square-foot office building on East 46th Street in Indianapolis is in foreclosure after lenders found the owner in default on a $4.5 million loan. A hearing to appoint a receiver to manage the property has been set for Sept. 5.

Fortune Industries shareholder drops suit against company

Mark Haagen had sought class-action status on behalf of certain shareholders, charging that the price offered in a proposed sale for each share in the company is too low. Haagen voluntarily dismissed the suit.

Lilly’s Alzheimer’s drug trials show mixed results

Eli Lilly and Co.’s experimental Alzheimer’s drug failed to meet its primary goals in two separate clinical trials. However, when the results of both trials were combined, the drug appeared to have slowed the decline of cognition in some patients.

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