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A new research consortium spearheaded by the Indiana University School of Medicine and Eli Lilly and Co. could bring in $25 million to $50 million over five years to create a new approach for developing drugs that provide more precise treatment for small groups of patients.
Indiana beers and wines will be available this summer for the first time in seven decades, but there will be several limitations on their sale.
Indianapolis-based Harlan Laboratories quietly sold itself last month to United Kingdom-based Huntingdon Life Sciences. Huntingdon has 1,200 employees, most of them in the UK and Princeton, N.J. Harlan has about 2,300 employees worldwide, including 300 locally. “There are no plans to have any layoffs in the area, and Huntingdon is planning to continue an Indianapolis presence,” Harlan Chief Financial Officer Doug Vaughan said. “We would hope our business will grow locally.” Harlan had been weighed down by declining revenue in its contract research business and a pile of debt, which credit analysts deemed a serious liability. Already out of the picture is Harlan CEO Hans Thumen. Contacted via LinkedIn, Thumen declined to comment. But Vaughan said he left when the deal closed because “the combined company only needed one CEO.” The huge debt load was left over from the 2005 leveraged buyout of the company by San Francisco-based Genstar Capital. In early 2013, Harlan nearly engineered a $305 million restructuring, but the deal fell apart. Last fall, IBJ reported that Genstar might sell the company to avert default on $280 million in debt due to be paid off in July 2014.
Community Health Network and Eskenazi Health quietly called off their engagement months ago, when they found out federal laws effectively prohibited their marriage. Leaders of the two Indianapolis-based hospital systems are holding out hope they still may be able to join, but doing so would require Congress to change federal tax laws—and getting anything passed in Congress these days is extremely difficult. The two hospital systems announced in February 2013 a joint operating partnership that would create a joint board to form common strategies, pricing and clinical collaborations. They staged a splashy press conference at City Market, with public officials in attendance. Their plan would have created a primary care behemoth, with more front doors to access health care than any other hospital system in the area. That would have put Community and Eskenazi in a position to scoop up customers newly insured under Obamacare. But in late September, Community CEO Bryan Mills called off the deal so the organizations could focus on changes coming from Obamacare and so Eskenazi could focus on completing its new 315-bed hospital, which opened in December. The rules for the special bonds Eskenazi sold to finance its $754 million hospital require that the recipient of proceeds be separate from any private organizations. The bonds were part of the Build America section of President Obama’s 2009 stimulus package, and offered lower interest rates for publicly funded projects.
Dr. Ora Pescovitz, the former CEO of Riley Hospital for Children at Indiana University Health, is returning to Indianapolis to work for Eli Lilly and Co. Pescovitz, 57, spent the past five years as CEO of the University of Michigan Health System. Pescovitz, who stepped down from her Michigan position June 1, will join Lilly in October as a senior vice president, medical. Initially, she will work under Dr. Tim Garnett, Lilly’s chief medical officer, focusing on medical policy issues, such as Lilly’s relationship with health care professionals, expanding access to Lilly medicines, and patient support programs. After what Lilly is calling an “orientation period,” Pescovitz will move to “a senior medical leadership role,” according to a statement from Lilly spokeswoman Janice Chavers.
Kelli Burress, a nurse practitioner, has joined St. Vincent Medical Group in Greencastle. Burress earned an associate’s degree from Ivy Tech State College in Indianapolis and a bachelor’s degree in nursing from Indiana Wesleyan University in Indianapolis.
Dr. Mohammed Tarrabain, a family physician, has joined St. Vincent Medical Group in Carmel. Tarrabain earned his medical degree from The American University of Beirut in Lebanon.
Dr. Tim Franson has joined Indianapolis-based YourEncore as chief medical officer. Franson was vice president of global regulatory affairs at Eli Lilly and Co. and since then has worked as a consultant, on his own and at FaegreBD Consulting. Franson holds a bachelor’s degree from the University of Iowa and a medical degree from the University of Illinois College of Medicine.
Figures for May add to evidence that about 14 percent fewer homes are selling this year in the nine-county area compared with the same point in 2013. But sale prices still are on the rise.
The waiver allows Indiana to set different state standards for education without having to fully comply with the rules set by the controversial federal law.
Democrat Vernon Brown, a key opponent of Indianapolis Mayor Greg Ballard’s infrastructure-spending plan, said he plans to resign from the City-County Council this summer.
A former deputy director at the Indiana Bureau of Motor Vehicles says he told agency leaders as early as 2010 that many BMV fees exceeded what was authorized under Indiana law.
“Daphnis et Chloe”? “22 Jump Street”? Zoobilation? What was on your Father’s Day weekend A&e plate?
Medtronic Inc., the second-largest maker of medical devices, will be based in Ireland after the acquisition for tax advantages.
The feds said last week that they were examining two worker deaths at warehouses operated by the world’s largest online retailer. Amazon has nearly 100 warehouses worldwide, including several in Indiana.
INDOT is expected to announce in the next two weeks a finalist from four proposals for services, which include operating the train route in its entirety or providing services such as Wi-Fi or food and beverage.
One person can’t try it all. But from what I sampled before I entered a food coma, here were the standouts.
Steve Simpson was informed Friday that his contract would not be renewed by Indianapolis-based Emmis Communications Corp., which owns WIBC. Newsman Simpson will be replaced by conservative talk show host Tony Katz.
The downtown building that has housed Dunaway’s restaurant for more than 15 years is on the auction block, likely signaling the end of the upscale eatery.
The assembly of delegates looking to change the U.S. Constitution have laid the groundwork for an amendment convention in the future.
Slane Capital is developing the project for Better Retail, which plans to move its headquarters from Hamilton County while converting the dilapidated structure just east of the Monon Trail into a hub for food-and-beverage startups.
The automaker is recalling nearly 512,000 Chevrolet Camaro muscle cars from 2010 to 2014 because a driver’s knee can bump the key and knock the switch out of the “run” position.
The Indiana Pacers are the first team in the NBA to be involved in a bike-sharing program. Given the positive press the team is getting from it, the Pacers may not be the last.
The Indianapolis International Airport won't file an insurance claim over the failure of its garage canopy because vendor Span Systems has agreed to cover part of the repairs.
