Eli Lilly and Co. will shed about 440 jobs after the sale of its Greenfield Laboratories and outsourcing other work. But the Indianapolis-based drugmaker hopes Indiana sees no net loss of jobs from its restructuring moves. The announcements this morning are part of a quickening effort by Lilly to reduce overhead costs before it loses […]
Eli Lilly and Co. has sold its Greenfield Laboratories in Hancock County to Covance Inc. for $50 million. Covance also signed a 10-year agreement with Lilly under which Princeton, N.J.-based Covance will take responsibility for Lilly toxicology testing now conducted at the historic facility. Approximately 260 Lilly employees at the facility will be offered jobs […]
Three Ball State University economists have gone public in recent weeks with their distaste for corporate social responsibility as it’s practiced these days. Philip Coelho and James McClure argued in a letter to the editor in The Herald-Times of Bloomington that…
When Dr. Zao C. Xu moved to Indianapolis in 1986, there were only a handful of other Chinese immigrants working at the Indiana University School of Medicine. Now, there are more than 20. Xu’s wife works at Eli Lilly and Co. When she started there in the mid-1980s, she was one of about 20 Chinese immigrant employees at the pharmaceutical giant. Today, there are more than 500. “Many people who came from China started working in the East or West…
As fans of the late Milton Friedman gather at the Conrad Hotel tomorrow night to celebrate the libertarian
economist, theyâ??ll have plenty to crow about.
Ironically, though, Friedmanâ??s ideas about turning education over to market forces have failed to gain much…
Second-quarter sales and profits rose by double digits for Eli Lilly and Co., but overhead increased just as fast as the company worked feverishly to find new revenue sources before key patents expire. Investors yawned today after the Indianapolis-based drugmaker met Wall Street expectations of 99 cents per share. Lilly shares inched up 68 cents, […]
Art Patterson, who launched Flagship Enterprise Center in Anderson and built the small-business incubator and accelerator into a three-building operation, has been named CEO at Elona Biotechnologies Inc. in Greenwood. Patterson left Flagship early this year after completing a four-year startup phase. Expertise to help small businesses had been established through host Anderson University as […]
A dearth of name players, slumping attendance and an outdated venue have some in the local tennis community wondering if the
Indianapolis Tennis Championships–formerly known as the RCA Championships–needs some serious re-stringing. Attendance at
the nine-day event, which ran July 12-20 this year, was on pace through July 16 to be at a 20-year low.
But attendance is far from the tournament’s only challenge.
By J.K. Wall Eli Lilly and Co. is contributing to a $39 million pot of money to fund a startup that will develop tools to speed discovery and development of new drugs. Lilly has joined with rivals Pfizer Inc. and Merck & Co. Inc, as well as Boston venture capital firm PureTech Ventures LLC, to […]
Eli Lilly and Co. has agreed to spend $64 million to acquire SGX Pharmaceuticals Inc., a San Diego-based biotech firm developing cancer drugs. Indianapolis-based Lilly and SGX have been collaborating since 2003 on development of cancer drugs. SGX provided X-ray crystallography technology to determine the structure of cancer targets Lilly was trying to hit with […]
A code-of-conduct committee in Australia has fined Indianapolis-based Eli Lilly and Co. $60,000 for a press release that the committee said promoted its Cialis erectile-dysfunction drug directly to the public. However, Lilly will not have to follow up with corrective ads, according to The Australian newspaper of Sydney. Lilly told the newspaper it was disappointed […]
Andrea Walker is a chemist with management aspirations. But instead of signing up for a traditional MBA program, the team manager at Indianapolis-based AIT Laboratories will enroll this year in a slimmed-down business program that focuses on the life sciences. The program, called the Kelley Executive Certificate in the Business of Life Sciences, is a new creation of Indiana University’s Kelley School of Business. The program will conduct most of its classes online over a one-year period. The courses will…
A trendy bar and an upscale hotel have agreed to anchor the 11-story Ralston Square project slated for South Street between
Meridian and Pennsylvania streets. The developers of the $60 million mixed-use project are moving forward after landing the
tenants necessary to secure a loan commitment, said Brian Epstein, president of locally based Urban Space Commercial Properties
and a partner on the project.
Eli Lilly and Co. settled its racial discrimination lawsuit yesterday for $64,000, ending a claim by an employee
who alleged the company fired her because she was disfigured through exposure to a blood pathogen.
The Equal Employment Opportunity Commission…
One of our sister Midwestern cities is locked in a fight for its corporate identity. A n h e u s e r- B u s c h , maker and distributor of Budweiser brand beers-and the corporate icon of St. Louis-is engaged in a $46.3 billion takeover battle for its survival as a U.S.-based company. The would-be acquirer is Belgium-based InBev, the second-largest brewer by volume in the world. London-based SABMiller, who in 2002 bought Miller Brewing in Milwaukee,…
On June 19, The New York Times business section led with an article titled, “Regional Banks are Rocked.” The accompanying graphic indicated that National City Bank lost 86 percent of its market value since the beginning of this year. No wonder. The news has not been good. On June 10, Peter Raskind, chairman and CEO of National City, acknowledged publicly that on Feb. 5, the bank had been placed under a memorandum of understanding by the comptroller of the currency….
Investors in Eli Lilly and Co. showed displeasure this morning in the decision announced late yesterday that the U.S. Food and Drug Administration will extend its review of Lilly’s prasugrel drug by three months. Shares in the Indianapolis pharmaceutical company fell 2 percent, to $46.63 – a 52-week low. The FDA’s decision on the highly […]
“Diversity” is a word that gets thrown around a lot these days. The pair of words “diversity management” might be more to the point. Diversity really is a fact of life. In terms of humankind, the world is made up of different kinds of people. And those differences go way beyond race, gender and ethnicity. People come from different backgrounds, believe in different religions, and have different sexual preferences, for example. Some are physically handicapped or mentally impaired. Our differences…
By conducting market research for some of the largest pharmaceutical companies in the world, locally based G&S Research Inc. has grown into a $10 million firm. But founders have even higher expectations for their G&S Discovery division, which was formed two years ago. Its flagship product, Navigrant, provides a database of government grant awards for national biomedical research. The total market worldwide for life sciences research is estimated at $45 billion. Navigrant has compiled information on 450,000 awards from 60…
TIPPECANOE COUNTY New research-to-market institute will be based on Purdue campus Purdue University will be part of a group that will use a $25 million grant to help turn health discoveries into commercial products through the creation of the Indiana Clinical Translational Sciences Institute. The National Institutes of Health will give the five-year grant to […]
