WIBC-FM fills vacant drive-time slot
Conservative duo “Chicks on the Right” set to fill slot vacated by Ed Wenck in March at city’s top talk station.
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Leases/leasing contracts
-Matrix Technologies leased 12,972 square feet at InTech Eleven, 6625 Network Way. The tenant was represented by Darrin Boyd of Cassidy Turley. The landlord, Network Way Properties, was represented by Kevin Gillihan and Jack Hogan of Jones Lang LaSalle.
-Eli Lilly and Co. renewed its lease for 12,200 square feet of space at InTech Eleven, 6625 Network Way. The tenant was represented by Jeff Luebker of CBRE. The landlord, Network Way Properties, was represented by Kevin Gillihan and Jack Hogan of Jones Lang LaSalle.
-Skilled Care of Indiana LLC leased 7,825 square feet of industrial space at 9900 Westpoint Drive. The landlord, Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley. The tenant represented itself.
-RPM Machinery LLC leased 5,464 square feet of office space at 8910 Purdue Road. The tenant was represented by John Crisp and Spud Dick of Cassidy Turley. The landlord, Zeller Realty Group, was represented by Tristan Glover of Zeller Realty Group.
-IRC Music West Store Inc. leased 4,400 square feet at The Center at Shiloh Crossing,10240 E. Highway 36, Plainfield. The tenant was represented by Steven Sengson of Prudential Indiana Realty Group. The landlord, MLMT 2006 LCI Greensburg Crossing LLC, was represented by Gary Perel of Newmark Knight Frank Halakar.
-Salon Lofts Group LLC leased 4,203 square feet of office space at 9769 E. 116th St., Fishers. The tenant was represented by Michael Cranfill and Scott Gray of Sitehawk Retail Real Estate. The landlord, Shamrock Builders, was represented by Darrin Boyd and Dave Moore of Cassidy Turley.
-Theoris Inc. leased 3,655 square feet of office space at 8900 Keystone Crossing. The tenant was represented by Dave Moore and Darrin Boyd of Cassidy Turley. The landlord, Keystone Investors LLC, was represented by Abby Cooper Zito of Jones Lang LaSalle.
-MS-IL Staffing leased 3,368 square feet at Georgetown Plaza, 4825-4959 W. 38th St. The tenant was represented by Darrin Block of Urban Space Real Estate. The landlord, The Broadbent Co., was represented by Broadbent's Jim Mosher.
-Al Basha LLC leased 2,188 square feet at The Avenue, 910 W. 10th St. The tenant was represented by Hamada Ibrahim of RP Lux. The landlord, Buckingham Cos., was represented by Denise Kouril and Tiffany Oliver of Buckingham.
-Blatt Hasenmiller Leibsker & Moore LLC leased 2,002 square feet of office space at 8910 Purdue Road. The tenant was represented by Bennett Williams and Andrew Martin of Cassidy Turley. The landlord, Zeller Realty Corp., was represented by Tristan Glover of Zeller Realty Group.
-Tanti Braids leased 1,890 square feet at Georgetown Plaza, 4825-4959 W. 38th St. The tenant was represented by Darrin Block of Urban Space Real Estate. The landlord, The Broadbent Co., was represented by Broadbent's Jim Mosher.
-Yogokiss leased 1,200 square feet at River Ridge Crossing East, 4825 E. 96th St. The landlord, The Broadbent Co., was represented by Broadbent's John Beuoy. The tenant represented itself.
-C&B Restaurant Group I LLC, doing business as Charlie and Barney's, leased 1,183 square feet at The Avenue, 910 W. 10th St. The tenant was represented by Gary Perel of Newmark Knight Frank Halakar. The landlord, Buckingham Cos., was represented by Denise Kouril and Tiffany Oliver of Buckingham.
-Bee Coffee Roasters Inc. leased 786 square feet of space at Pan Am Plaza, 201 S. Capitol Ave. The tenant was represented by Gary Perel of Newmark Knight Frank Halakar. The landlord, Pan AM SCE I LLC, was represented by Tom Ott.-Yats on the Ave LLC leased 778 square feet at The Avenue, 910 W. 10th St. The tenant was represented by Gary Perel of Newmark Knight Frank Halakar. The landlord, Buckingham Cos., was represented by Denise Kouril and Tiffany Oliver of Buckingham.
Lilly’s new strategy built around head-to-head drug trials
Lilly has set up not one, not two, but five head-to-head trials of its experimental drug dulaglutide against other leading diabetes therapies. So far, dulaglutide’s record is four wins, no losses.
Company news
Indianapolis-based Eli Lilly and Co., already the promoter of the leading anti-impotence pill Cialis, will now try to speed up development of a drug to treat premature ejaculation. Canada-based TVM Life Sciences Ventures VII, which manages funds supplied by Lilly, invested in Ixchelsis Ltd., a new company created in the United Kingdom to develop the experimental drug, which is called IX-01. The drug was originally discovered at a research facility in the United Kingdom operated by New York-based Pfizer Inc., the company that brought the anti-impotence pill Viagra to market. Lilly’s Chorus unit will oversee development of the drug to determine if its proposed concept of action appears to work. “TVM’s strategic relationship with Lilly enables its project-focused companies, like Ixchelsis, to reach clinical proof of concept efficiently and cost-effectively,” said Darren Carroll, Lilly’s vice president of corporate business development, in a prepared statement. If and when the drug’s proof-of-concept is verified, Lilly will have the option to acquire the drug for further development. Lilly and TVM estimate that as many as 30 percent of men worldwide suffer from premature ejaculation.
Warsaw-based Zimmer Holdings Inc., which lost a February trial against Stryker Corp. over a surgical device, was told to pay more than $228 million—three times the jury award plus other costs—and stop selling certain products. According to Bloomberg News, the increase in the jury award was appropriate because Zimmer intentionally infringed Stryker patents to build its business for pulsed lavage, a technique that removes damaged tissue and cleans bones during joint-replacement surgery, U.S. District Judge Robert Jonker said in an order issued Wednesday. He also ordered Zimmer to stop selling its Pulsavac Plus device. A federal jury in Grand Rapids, Mich., in February sided with Stryker and awarded $70 million in damages. The dispute is over devices that use pulsing liquid, such as water or saline solution, to loosen debris from a surgical site and remove it by suction. The $228 million figure is more than the second-quarter profit for either company. Kalamazoo, Mich.-based Stryker reported $213 million in earnings on sales of $2.2 billion. Zimmer, based in Warsaw, reported $152 million in earnings on $1.2 billion in sales.
Three months after the recall of its Zilver PTX stent to prop open peripheral arteries, Bloomington-based Cook Medical Inc. put the device back on the market around the globe, according to MassDevice.com, an industry trade publication. Cook voluntarily recalled the stents in April after getting reports of one patient death and one injury when the equipment that delivers the stent into patients broke off during surgery. In late May, the U.S. Food and Drug Administration slapped its “deadly” warning on Cook’s recall of its stent, which props open arteries in the legs and arms to prevent serious blood clots. Millenium Research Group has estimated that Cook derives $2,750 from each Zilver stent it sells in the United States. Since it first hit foreign markets in 2009, the Zilver stent has been deployed in more than 30,000 patients, according to data from Cook. The Zilver, which is the first stent covered with an inflammation-reducing drug, was introduced to the U.S. market in December 2012. The Zilver recall did not affect stents that were already placed in patients.
Lilly lung cancer drug raises patient survival in trial
If approved, the drug would be a potent boost to Lilly’s product portfolio. It would also mean a critical new therapy for a cancer that’s proven difficult to treat.
Constitutional referendum on marriage could yield media bonanza
Television and radio stations have grown fond of income from “issue ads” in recent years on everything from right-to-work legislation to immigration reform.
Company news
Dr. Segun Rasaki, an Indianapolis physician, has been charged with 24 felonies for allegedly prescribing controlled substances such as hydrocone, methadone and oxycodone without a legitimate medical purpose, according to charges announced Monday by the Marion County Prosecutor’s Office. Rasaki, who was being held Monday in the Marion County Jail, describes himself as an "independent hospital and health care professional" on his LinkedIn page. In an unrelated case, Rasaki was convicted in 2012 of sexually abusing patients. The state’s medical licensing board revoked his medical license in the same year. According to an investigation by state and federal investigators, Rasaki prescribed painkillers illegally to 11 patients as well as to one undercover agent of the U.S. Drug Enforcement Agency. He also allegedly filed more than $5,000 in fraudulent claims against health insurer Anthem Blue Cross and Blue Shield for “ghost” office visits and unneeded medical services.
Eli Lilly and Co. stock jumped 5.5 percent Thursday after the Indianapolis-based drugmaker announced clinical trial results showing its experimental lung cancer medicine necitumumab increased patients' overall survival compared with those on chemotherapy alone. According to Bloomberg News, the drug was tested in nearly 1,100 patients with non-small-cell lung cancer with tumor types known as squamous. “This is a clear upside surprise,” Mark Schoenebaum, an analyst with ISI Group LLC, said in a note to clients. Analysts had “basically zero” expectations for necitumumab, Schoenebaum said in his note. The drug failed in a prior non-squamous lung cancer trial, he said. Lilly expects to publish results of the trial and submit the drug to regulators next year.
Public broadcasting station WFYI-FM 90.1 aims to expand distribution of its locally produced “Sound Medicine” show to at least 30 radio stations in large and medium-size markets in the next two years. The 12-year-old show already airs on 16 out-of-state stations as far away as Alaska. WFYI has lassoed two years’ funding to “build a sustainable national brand” for the show, which the station produces through a partnership with Indiana University School of Medicine. As for how much money was recently committed, and by whom, station executives declined to say. In the past, much of the funding has come from Indiana University Health Physicians and from IUPUI, which often are mentioned during the program. The new funds are being used to add an executive producer tasked with improving distribution and content of the program, which is distributed without charge to stations interested in running it. "Trying to negotiate a license fee at this point is a barrier to carriage," said Alan Cloe, executive vice president of content services at WFYI. "Sound Medicine," whose primary host is former WRTV-TV Channel 6 anchor Barbara Lewis, covers everything from new medical treatments to dispelling common medical myths.
Ivy Tech Community College is cutting hours for its part-time professors in preparation for implementing the Obamacare overhaul of health insurance. The law requires employers to provide health insurance to part-time employees who work 30 hours a week or more, and the Obama administration has said it will start enforcing that provision in 2015. Colleges and the Obama administration are also still trying to figure out how to convert colleges’ system of counting credit hours into a reliable system of hours worked. Ivy Tech President Tom Snyder said the college system reduced most of its part-time faculty's credit hours to nine to provide leeway for unresolved issues such as how preparation time is counted. About 60 percent of Ivy Tech professors work part time. Snyder says college officials would prefer the figure be 50 percent, but he says that would require an additional $50 million in state funding.
Indiana group to oppose gay marriage amendment
An alliance of businesses and human rights groups is launching an effort to defeat passage of an amendment that would write Indiana's ban on same-sex marriage into the state constitution.
Lilly cites ‘deep concerns’ over China kickback allegations
Eli Lilly and Co. said it is investigating allegations its employees paid Chinese doctors at least $4.9 million in bribes and kickbacks to promote the sales of two diabetes drugs.
Language Training Center plans expansion
Indianapolis-based Language Training Center Inc. plans a $1.5 million expansion that will lead to the hiring of 26 more employees by 2017, the company announced Thursday.
EDITORIAL: Time for an upgrade
Though far from shabby, Circle Centre is looking a little long in the tooth two years shy of its 20th birthday.
Ballard wins allies for cricket strategy
Both sides of the political aisle are howling that the $6 million transforming Post Road Community Park into the Indianapolis World Sports Park could be better spent. Yet a powerful group of people and organizations says the 48-acre park championed by Mayor Greg Ballard is already paying off and will score even bigger dividends in the future.
Company news
Oops. West Lafayette-based Bioanalytical Systems Inc. announced Aug. 21 that it will have to restate financial reports going all the way back to June 2011 because of an accounting error. Bioanalytical, which sells drug development equipment and services to pharmaceutical firms, has been unable to file its latest quarterly filing with the U.S. Securities and Exchange Commission. Because of that failure to file, the NASDAQ stock market has threatened to delist Bioanalytical. The $422,000 error helped make Bioanalytical’s losses applicable to common shareholders during the past 2½ years about 4 percent less than they should have been, according to an unaudited restatement of results issued by the company. The company previously reported losses for common shareholders of $10.1 million during that 2½-year period. The error occurred in May 2011 when Bioanalytical staged a public offering of new shares. Those sales included a purchase warrant, which Bioanalytical should have recorded as a liability, but instead recorded as equity. The warrants could, in some cases, require Bioanalytical to pay cash to investors, the company stated in a press release.
After shelling out $29.4 million last year to settle 15 years' worth of bribery charges, Indianapolis-based drugmaker Eli Lilly and Co. is in the same pickle again. A Chinese newspaper reported last week that Lilly employees in China gave at least $4.9 million in bribes and kickbacks to Chinese doctors to entice them to prescribe Lilly’s medicines, particularly its insulins for diabetes. A Lilly spokeswoman would neither confirm nor deny the allegations to Bloomberg News, but said Lilly is investigating. Bribes and special payments are common practice for selling products in China, according to the 21st Century Business Herald in China, but it is a violation of U.S. law for a U.S.-based corporation to bribe foreign officials. The allegations make Lilly the third major multinational drugmaker accused of bribing doctors in return for prescribing drugs. GlaxoSmithKline Plc, based in London, and Paris-based Sanofi-Aventis SA face similar investigations. In 2012, Lilly agreed to pay the SEC to settle charges that it paid off government officials to obtain government contracts in Brazil, China, Russia and Poland from 1994 to 2009.
Planned Parenthood of Indiana is suing to block a new state law that tightens abortion pill regulations, arguing that the law wrongly targets the organization's clinic in Lafayette, according to the Associated Press. The federal lawsuit filed Aug. 22 claims the law violates equal protection rights because it requires the Planned Parenthood clinic in Lafayette to meet the same standards as surgical abortion clinics but doesn't apply those rules to the offices of doctors who distribute the abortion pill. The Lafayette clinic does not perform surgical abortions. Planned Parenthood officials maintain the only purpose of requiring it to have separate procedure and recovery rooms is to restrict women's access to the abortion pill. The law was approved in April by the Republican-dominated Legislature. Supporters say it's aimed at ensuring the abortion pill is given under proper medical care.
MADISON: Leaders, pundits and reading books
Which of our leaders ever talks with us about a good book she or he has recently read?
Herd of nominees up for $250K animal conservation prize
Thirty-nine protectors of pronghorn antelope, sea turtles, jaguars, ibis, puffin and other endangered species have been named as nominees for the Indianapolis Prize.
MAURER: Amend our constitution while we can
Fellow right-wingers, our chance to stick it to the gays may not come again.
TrendyMinds building a video production facility
The facility will include a 16-foot cyclorama—a curved wall that presents the illusion of an endless landscape.
China bribery probe leading to tough drug market, CEO says
Drugmakers under investigation for bribery have stopped promoting products in China, and physicians in some hospitals no longer want to meet sales representatives. Eli Lilly is among the drugmakers in China facing allegations.
Greenwood biotech firm’s assets to hit auction block
The remnants of ill-fated Elona Biotechnologies Inc. will be auctioned on Sept. 27, presenting a rare turnkey opportunity for entrepreneurs interested in jumping into the life sciences industry.
Company news
The assets of Greenwood former drugmaker Elona Biotechnologies Inc. will be liquidated at an auction Sept. 27. Elona, which was trying to make a generic version of insulin known as a biosimilar, was put into receivership in June after the city of Greenwood filed a foreclosure action to recover more than $9.5 million in loans and incentives. Bernadette Barron, the Chicago-based receiver for Elona, hired Indianapolis-based Key Auctioneers Inc. to liquidate Elona’s assets. Those assets include an unfinished, $28 million headquarters and manufacturing facility, as well as patents and other intellectual property. Elona was founded in 1997 by two former Eli Lilly and Co. scientists. If launched, Elona’s insulin would have been a cheaper competitor to brand-name insulins made by Indianapolis-based Lilly and other companies. There are no generic versions of insulin sold around the world. Elona was seen as a rising star, and Gov. Mike Pence even visited the company in March 2012 as part of his “jobs tour,” which was a key element of his gubernatorial campaign.
On Thursday, Greenfield Mayor Richard Pasco and officials from Hancock Regional Hospital will break ground on the O3 PureMed medical waste facility. O3 PureMed is the first commercial facility in the region to dispose of medical waste using an ozone-based green technology. The facility is a partnership of Hancock Regional and Greenfield-based waste management firm Fisk Services.
Indianapolis-based Eli Lilly and Co. looked south for its latest partnership, a deal with Louisville-based health insurer Humana Inc. to conduct research to improve the health care of their members and patients. The companies will work together to identify and analyze data to improve health care quality and outcomes. The initial project will investigate the characteristics of Type 2 diabetes patients associated with increased health care costs. The companies might then study treatments that could change some of those characteristics. "We are pleased to partner with Humana on research that will help benefit patients facing a variety of diseases, including diabetes," said Dr. Dara Schuster, a medical fellow at Lilly. "Working together, we hope to provide patients with insights and guidance that will help them tailor their care to best match their individual needs."