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Dow AgroSciences CEO Antonio Galindez told investors Wednesday morning that the company plans to launch five products
by 2013 that could increase annual revenue by $800 million.
Dallas-based CLST Holdings Inc. has struggled, and its shares trade for a mere 9 cents apiece.
A judge has entered a preliminary not guilty plea for a former Indiana University basketball player charged in connection
with an ex-business partner’s multimillion-dollar fraud scheme.
A report set to be released Wednesday by local life sciences industry group BioCrossroads says Indiana companies providing
contract pharmaceutical research and manufacturing services are weathering the economic downturn and are growing.
The wider deficit in December reflects a rebounding economy that is pushing up demand for imports.
Lawyers for former UCLA basketball player Ed O’Bannon are promising to expose financial information about NCAA’s licensing
contracts the NCAA would rather keep private.
Officials in Seymour are protesting the announced closing of an Indiana State Police post in their city.
Pharmacy giant CVS will pay $1.95 million and verify that all of its pharmacists are licensed in Indiana to settle a state
complaint that pharmacists with expired licenses dispensed prescriptions for several years at two of its drugstores.
Community Health Network has promoted Jane Callahan, a registered nurse, to vice president for physician
services, although she will keep her key duties: physician recruiting, partnering and credentialing. Callahan, a 30-year veteran
at Community, is also president emeritus of the board of directors for the Indianapolis affiliate of Susan G. Komen for the
Cure.
Dr. Gerald C. Walthall, has been appointed chairman of the central Indiana regional board
of directors of the Sisters of St. Francis Health Services Inc. The Catholic hospital organization operates three hospitals
in Beech Grove, Indianapolis and Mooresville. Walthall is a retired ear, nose and throat doctor. He is medical director of
the St. Francis’ palliative medicine team in central Indiana.
It’s the most famous rate hike in the country now. And that’s not good news for WellPoint Inc.
The Indianapolis-based health insurer’s California subsidiary will raise customers’ premiums by as much as 39
percent this year, according to the Associated Press. That alarmed President Obama, who is trying to resurrect his health
reform efforts. He cited the WellPoint rate hike in his Sunday interview with Katie Couric on CBS. "That’s a portrait
of the future if we don’t do something now," Obama said. Also, Obama’s health secretary, Kathleen Sebelius, fired
off a letter to WellPoint, demanding an explanation. The Obama administration has no authority in the matter, and the California
insurance department says it can do nothing about a rate hike unless WellPoint’s pricing violates state rules. But California
Insurance Commissioner Steve Poizner is hiring an outside actuary to make sure WellPoint’s rate hike won’t breach
a state threshold that no more than 30 percent of premiums pay for overhead and profits. WellPoint, in a statement, blamed
the rate hike on the weak economy, which has reduced WellPoint’s customer base by eliminating 7 million jobs, and on
ever-rising costs for medical care. The rate hike "highlights why we need sustainable health care reform to manage the
steadily rising costs of hospitals, drugs and doctors," the statement said.
Eli Lilly and
Co. Chairman and CEO John C. Lechleiter received $16.4 million in total compensation last year, a 33.6-percent increase.
The rest of Lilly’s executive team got an average 25.4-percent pay hike. The majority of pay for the top five Lilly
executives came in the form of stock-based awards. But Lilly’s stock performance has been dismal the past two years. Indianapolis-based
Lilly faces a raft of patent expirations in the next five years that could sap more than half its current
revenue. On top of that, it has suffered numerous setbacks on bringing drugs to market. Therefore, investors
have sent Lilly’s stock price tumbling. Even counting Lilly’s substantial dividend, investors
suffered a 21-percent loss in value in 2008 and another 6-percent loss in 2009. By contrast, Lilly’s
profits have grown by double-digits each of the past two years.
Dublin, Ohio-based
health care products distributor Cardinal Health LLC says it plans to cut more workers at its
Indianapolis distribution center, bringing the number of recent layoffs to 49. Cardinal Health notified the state on Feb.
3 that it laid off 37 workers at the end of January and plans to lay off 12 more effective April 3. The center is at 6812
Corporate Drive on the city’s northwest side. The cuts eliminated 44 warehouse-operations associates, two operations
managers, two warehouse supervisors and an assistant administrator. About 25 employees will be left at the facility after
the layoffs.
VoCare Inc. wants $4 million in cash and tax incentives to open headquarters and call center it says could employ 300 people.
The City of Franklin is offering two vacant buildings for sale, including the 1936 post office that served as Franklin’s City
Hall from the early 1980s until 2008.
The City of Franklin is offering two vacant buildings for sale, including the 1936 post office that served as Franklin’s City
Hall from the early 1980s until 2008.
The Health & Hospital Corp. of Marion County got good news in its first round of borrowing to finance a new Wishard
hospital: The cost is less than expected.
After 30 years of government
studies of a regional transportation system, a private-sector group on Wednesday is set to unveil its own
plan that includes commuter rail and toll lanes added to congested interstate highways.
Businesses slashed wholesale inventories sharply in December, a much weaker showing than expected and a troubling sign that
companies are still too pessimistic about the economy to begin restocking shelves.
Locally based e-mail marketing firm opens London office, adds big-name clients and secures $145 million in venture capital.
The president and CEO of the Indiana University Alumni Association is resigning after three years in the position. Thomas
Martz gave no reason for his resignation, which is effective at the end of February. A university spokesperson says the process
for hiring a replacement will start in a few weeks.
No one was hurt after an Indianapolis International Airport Police officer returned gunfire on two men in a west-side neighborhood.
The officer said the men in a pickup truck shot at him as he was visiting a relative on Cossell Road. Investigators say the
airport officer was standing outside about 11 p.m. Monday when the men shot at him. He used his personal firearm to fire back.
No one was hit.
Plows are out in central Indiana, clearing the streets of snow that clogged Tuesday morning’s rush hour. The heaviest snow
has stopped for the day, but another 1 inch to 3 inches are expected tonight. In Indianapolis, 83 crews are working around
the clock to remove snow and spread chemicals on the streets. However, the wind will pick up later, causing visibility to
be reduced for commutes on Tuesday night and Wednesday morning. Fox59 will have more at 4 p.m.
