The Fishers Chamber of Commerce and some individual business owners are on opposite sides of a debate over imposing a 1-percent food-and-beverage tax to help fund economic development efforts in the town.
A skirmish in the ongoing legal war between hardware store magnate John Menard and former business partner Stephen Hilbert will arise in open court on Tuesday, as a trial begins between one of Menard's companies and former model Melania Trump.
Shares of Endocyte Inc. came roaring back after the company’s executives finally convinced investors there’s a real possibility of getting European approval in the next two months for its first drug. Shares of West Lafayette-based Endocyte soared by nearly 41 percent from its close on Tuesday, just before the company issued its pipeline update, until the end of the week, when the shares closed at $11.64 apiece. Endocyte executives said they expect European regulators to render a decision on its ovarian cancer drug, vintafolide, in December or January. The European regulators have requested an oral presentation by Endocyte, which is usually a sign of some controvery, Wall Street analysts noted. If Endocyte gets the green light, it would start working with its partner, New Jersey-based Merck & Co. Inc., to sell vintalofide next year. Endocyte is also seeking approval for a companion imaging agent. Combined, analysts expect the two products could bring Endoycte as much as $200 million in revenue by 2018.
Two former Eli Lilly and Co. scientists accused of stealing the drugmaker’s trade secrets and passing them to a Chinese company have been released to a halfway house by a federal judge in Indianapolis. The judge, William Lawrence, also acknowledged that the men’s attorneys had “poked sufficient holes” in the case brought by U.S. Attorney Joe Hogsett against the men by suggesting that Guoqing Cao and Shuyu “Dan” Li, only passed on information that Lilly had already put into the public domain. Cao and Li, both of whom live in Carmel, were arrested in October for allegedly emailing sensitive information about nine of Lilly’s experimental drug programs to an employee of Jiangsu Hengrui Medicine Co. Ltd., which is based in China. An executive of Indianapolis-based Lilly estimated during a court hearing that the trade secrets were worth at least $55 million.
Paragon Medical Inc., a Pierceton, Ind.,-based supplier to orthopedic implant companies, has agreed to be acquired by Chicago-based private equity firm Beecken Petty O'Keefe & Co. Financial terms of the transaction, which is expected to close in December, were not disclosed. The company has 950 employees, according to its website.
Testosterone replacement drugs, including one made by Eli Lilly and Co., raised the risk of heart, attack, stroke or death by 29 percent, according to a study of 8,700 men released last week. According to Bloomberg News, the study is the first of a class of drugs, which includes Lilly’s Axiron, as well as AbbVie Inc.’s Androgel. Indianapolis-based Lilly is expected to achieve $168 million in sales this year from Axiron. Androgel could achieve $1.1 billion in sales, according to figures compiled by Bloomberg. An earlier study of testosterone supplements used in elderly males, funded by the U.S. National Institute on Aging and run at Boston Medical Center, was stopped in 2009 because an audit found it caused more heart attacks and high blood pressure. Teresa Shewman, a Lilly spokeswoman, said the company is aware of cardiovascular events in men taking testosterone therapies. “Lilly works with the scientific community and regulatory bodies to further understand and communicate the risks and benefits of testosterone replacement therapy,” Shewman said. “As a company responsible for developing medicines, Lilly is committed to providing advertising that is truthful, accurate and balanced.”
The growth of Carmel’s Meridian Street office corridor wasn’t a happy accident. It was city planning. Last month’s Hamilton County Leadership Academy session provided an up-close look at planning and development in the fast-growing suburbs.
The opening of the new 13-mile stretch around Kokomo's east side will be a key step in the state's project to upgrade the most-congested sections of U.S. 31 between Indianapolis and South Bend.
Veteran restaurateur John Perazzo is preparing to open a second location of his popular Italian eatery J. Razzo’s, on State Road 32 in Westfield.
-Pharmakon Pharmaceuticals Inc. bought a 37,265-square-foot building and three acres of land at 14450 Getz Road, Noblesville. The buyer was represented by Brian Askins and Matt Waggoner of Summit Realty Group. The seller of the building, PSTI Group LLC, was represented by Jim Shook of Coldwell Banker Commercial. The seller of the land, National Bank of Indianapolis, was represented by Ralph Balber of Newmark Knight Frank Halakar.
-Arc Design, PC purchased a 16,000 square foot building at 201 N Delaware Street. The buyer and seller, 201 North Delaware, LLC, were represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.
-Theta Chi Fraternity International Headquarters bought a 30,950-square-foot office building at 865 W. Carmel Drive, Carmel. The buyer was represented by Craig Kaiser of Northern Commercial. The seller, Browning Investments Inc., was represented by Jon Owens and Russ Van Til of Cassidy Turley.
Shelbyville-based Chocolate for the Spirit is opening a retail storefront in Carmel in time for the holiday shopping season.
Suburban neighbors already impose 1-percent levy on food and beverage sales.
The implosion of the once-powerful Carmel Redevelopment Commission doesn’t look good in the headlines, but the turmoil has a silver lining. It should end a period in Carmel’s history when fast physical transformation of the town seemed to be leadership’s only concern.
Tractor Supply Co. plans to move its Westfield store next year from U.S. 31 to a new development planned for State Road 32 just east of Spring Mill Road.
The proposed 4,000-solar panel solar park would cover eight acres in Frankton, about 35 miles northeast of Indianapolis and be surrounded by a fence.
Officials tout sophistication, Internet focus in attempt to shed folksy image.
The volume of travel in the United States exceeded the prior peak (2007) earlier this year and is likely headed for continued growth, although Indiana, with the exception of central Indiana, is not faring as positively.
Police say a man with a black handgun robbed a Dunkin Donuts shop in Carmel just after 9 p.m. Monday. The man took an undisclosed amount of cash and fled through the rear door of the business at 1305 S. Rangeline Road.
Carmel resident Mark Palombaro, 55, likely faces prison time after admitting to his role in a scheme that prosecutors say netted him $766,000.
Soupremacy is set to take space just off Monument Circle vacated by Teapots n Treasures, which moved a couple of blocks away, while Ambrosia settles into new digs in Broad Ripple.
Fishers’ Town Council is convening a special meeting next week to hear what residents think of a proposal to raise the food-and-beverage tax by 1 percent to fund economic development projects.
The Carmel Redevelopment Commission has a lot to do—with or without staff support. Mayor Jim Brainard and the city’s director of administration will handle the volunteer panel’s day-to-day affairs for the immediate future.
