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Emmis wins latest battle in unpaid-dividend case

March 4, 2014

Plaintiffs in the case had sought $34 million in unpaid dividends. Shareholders had voted in 2012 to wipe away the obligation, at the request of management.

City announces short list for creating justice complex

March 4, 2014

Indianapolis officials Tuesday named three development groups that will be invited to submit proposals to create a new criminal justice complex.

Cook heads contingent of Hoosier billionaires on Forbes list

March 4, 2014

Gayle Cook, 80, the widow of Cook Group Inc. founder Bill Cook, saw her net worth skyrocket in the last year.

Bill adds oversight to redevelopment commissions

March 4, 2014

The Indiana House approved a Senate bill that adds transparency to redevelopment commissions and forces decades-old tax-increment financing districts to expire.

RadioShack closing 1,100 stores as troubles grow

March 4, 2014

The closures represent just the latest setback for RadioShack, which has been struggling to update its image and compete with the rise of online retailers in recent years.

Zionsville to use e-learning to make up snow days

March 4, 2014

Districts across the state have had to get creative to meet the state's requirement for instruction days.

Stonegate plans to add 400 workers in expansion

March 4, 2014

The mortgage company plans to invest $6.2 million in new office space in Carmel, at the North Haven office park, helping it double its work force by 2017.

Anderson University president plans to step down

March 4, 2014

James Edwards plans to leave his position by the end of the 2014-15 academic year. He has served in the role for nearly 25 years and is only the fourth person to hold the office in the school’s 97-year history.

Indiana Landmarks rescues endangered Jewish landmark

March 4, 2014

The preservation group paid $50,000 to rescue the near-north side temple on Ruckle Street, which was first occupied by the Beth-El congregation. After a roof replacement, officials hope to find a tenant for the historic building.

House sends industrial hemp bill back to Senate

March 4, 2014

The Indiana House approved a bill Monday that would allow farmers to grow hemp – a non-intoxicating cousin of marijuana – if the federal government lifts restrictions on the crop.

Mass transit bill headed to conference committee

March 4, 2014

The Indiana House passed legislation to authorize new taxes for an expanded bus system but the bill is headed to a conference committee where lawmakers will try to find a compromise on the issue.

House passes moratorium on nursing home construction

March 4, 2014

The bill passed 55-40 and now returns to the Indiana Senate, which has already passed the bill and can now approve changes made by the House or send the bill to a conference committee for further consideration.

Committee urges hiring commitment for $81M MSA tower project

March 4, 2014

A City-County Council committee recommended approval for the 28-story building but only if the developer pledges that 30 percent of the workers it hires to build the tower live in Marion County.

Auto auctioneer invests big in tech as sales go online

March 3, 2014

KAR Auction Services Inc. expects to spend as much as $125 million on technology this year as its focus continues to shift to the Web and apps.

Hurco’s longtime CFO resigns

March 3, 2014

John G. Oblazney, chief financial officer at Hurco Cos. Inc. since 2006, has left the Indianapolis-based company to “pursue other interests,” Hurco announced Monday.

Former Simon exec sentenced in mail fraud scheme

March 3, 2014

Carmel resident Mark Palombaro received a sentence of 18 months in a federal prison for perpetrating a construction kickback scheme in Pennsylvania that prosecutors say netted him $766,000.

Analysts: Endocyte likely to receive green light on first drug this month

March 3, 2014

The European Committee for Medicinal Products for Human Use is scheduled to meet March 17-20, and analysts expect the agency to vote during that meeting to approve vintafolide, Endocyte’s first drug, which treats ovarian cancer.

Company news

March 3, 2014

One of Eli Lilly and Co.’s experimental diabetes drugs was as effective at lowering blood sugar levels as Victoza, the leading drug on the market. Indianapolis-based Lilly said its drug dulaglutide showed “non-inferiority” when tested against the strongest dose of Victoza, a best-selling drug for Type 2 diabetics made by Denmark-based Novo Nordisk A/S. The study of 599 patients examined the effect on hemoglobin A1c scores, a measure of diabetes control. Lilly said it would wait to disclose detailed results of its Phase 3 clinical trial of the two drugs until scientific meetings later this year. But the result is good news for Lilly, which is counting on dulaglutide and a few other drugs it plans to launch this year to rejuvenate its sales after the patent expiration in December of its top-selling drug, Cymbalta. Before the latest study, Wall Street analysts predicted dulaglutide could achieve $1.5 billion a year in sales. Victoza generated $2.1 billion in 2013 sales for Novo Nordisk, according to data compiled by Bloomberg, and was the top seller in its class. Dulaglutide has already proved itself superior to other diabetes drugs, including metformin, Byetta and Januvia, in clinicial studies announced last year. Dulaglutide has been submitted to U.S. regulators for approval, with a decision expected by September.

Pharmacists would be able to substitute an interchangeable biosimilar drug for a prescribed name-brand product under a bill passed by the Indiana House of Representatives last week. The bill now moves to the Governor’s Office for consideration. The legislation, authored by Sen. Brandt Hershman, R-Buck Creek, creates a series of steps to ensure the safety of automatic substitution of biosimilar medications. Senate Bill 262 includes five principles supported by BIO, the Biotechnology Industry Organization. Biosimilar drugs are generic versions of biotech drugs, which are developed from organically produced proteins. Traditional pills are synthesized from chemicals.

Louisville-based KentuckyOne Health, a hospital system that employs more than 14,000 people in Kentucky and southern Indiana, has laid off about 500 people to help reduce a $218 million deficit, according to the Associated Press. In addition, the company said it would not fill 200 job vacancies, to further reduce costs. Hospital systems across the country have begun slashing work forces to reduce bloated budgets after years of aggressive building, while adjusting to lower Medicare reimbursement and reductions in Medicaid funding.

People

March 3, 2014

Ivy Tech Community College has appointed Calvin Thomas as vice president of its health division, one of four units into which Ivy Tech has restructured itself. Thomas is a veteran hospital executive, including a stint as chief operating officer at St. Lucie Medical Center in Florida. Just before joining Ivy Tech, Thomas was campus administrator of Arlington High School. Thomas holds a bachelor’s degree in health care management from Harris-Stowe State University and a master’s degree in health care leadership from Dartmouth College.

Dr. Jeffrey Cox, a family physician who specializes in diabetes and obesity, has joined St. Vincent Medical Group in Indianapolis. Cox earned a bachelor’s degree in chemistry from Valparaiso University and a medical degree from Indiana University School of Medicine in Indianapolis.

Dr. Kimberland Anderson,  a family physician, has joined Community Physician Network in Fishers. She earned her medical degree at University of Illinois College of Medicine.

Residential

March 3, 2014

The average rate for 30-year mortgages dipped from 4.49 percent to 4.48 percent in the week ended Feb. 27, according to Bankrate.com. The rate for 15-year mortgages fell from 3.52 percent to 3.5 percent.

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