UPDATE: Lowe’s to invest $20.5M in customer-service center
The home-improvement retail titan plans to begin hiring immediately for the center on the northeast side, pledging to employ as many as 1,000 workers making wages of $10 to $14 per hour.
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Lowe’s plans massive local call center, sources say
Home improvement retail giant Lowe’s Companies Inc. plans to open a call center on the northwest side of Indianapolis that could employ as many as 1,000 workers, sources familiar with the deal said Monday.
Company news
Assembly Pharmaceuticals Inc., which had offices in Indiana, has merged with New York-based Ventrus Biosciences, a publicly traded drug development firm, to create Assembly Biosciences. The new company trades on the NASDAQ stock market under the ticker symbol ASMB. Assembly has been developing antiviral drugs focused on hepatitis B based on the scientific research of Adam Zlotnick, a professor of molecular and cellular biochemistry at the Indiana University Bloomington campus. Zlotnick co-founded Assembly in 2012 with IU chemist Richard DiMarchi; IU biochemist William Turner; Dr. Uri Lopatin, an infection disease researcher based in San Francisco; and Indianapolis entrepreneur Derek Small. Small will be chief operating officer of Assembly Biosciences.
Eli Lilly and Co. signed a $45 million drug-development deal with United Kingdom-based biotech company Immunocore Ltd., according to the Wall Street Journal. Immunocore is trying to develop injectable cancer treatments that would direct the immune system’s T cells to get inside cancer cells and kill them. Immunocore will receive $15 million from Lilly upfront for each of three drug programs that have not yet entered human testing. If Lilly decides to take the treatments into the next stage of development, Immunocore can either receive a fee of $10 million to co-invest and develop the drugs or let Lilly develop the drugs while still retaining a right to future royalties if the drugs hit the market. Last year, Immunocore signed partnership deals with four other drug companies: Roche, GlaxoSmithKline, AstraZeneca and Adaptimmune. Immunocore and Adaptimmune were previously one company called Avidex, formed based on patents licensed from the University of Oxford.
Indiana will be one of up to 20 new states in which Minnesota-based UnitedHealth Group will compete on the Obamacare exchanges later this year. The health insurance giant sold on just four Obamacare exchanges for 2014, but will greatly expand its activity selling policies for 2015, according to the Associated Press. In Indiana, UnitedHealth has told the Indiana Department of Insurance it expects to sign up about 5,000 customers via plans sold under the All Savers brand. UnitedHealth representatives have told Indiana health insurance brokers that the company will make plans available for 2015, even though the specific states in which UnitedHealth will sell on the Obamacare exchanges has not been publicly released by the company. The exchanges, which are online marketplaces for health insurance, are the only place consumers can access Obamacare’s generous tax credits to reduce the cost of health coverage. UnitedHealth CEO Stephen Hemsley told Wall Street analysts on July 17 that the exchanges will become a more established part of future health care benefits, and UnitedHealth doesn’t want to enter those markets too late.
This isn’t what St. Vincent Health wanted. The Indianapolis-based hospital system’s clerical error of May 5, which sent 63,325 letters about patients' upcoming appointments to the wrong people, is now being cited by the information technology world as an example of the surge in data breaches. Trade publication PC World referred to the data breach at the St. Vincent Breast Health Center in an article headlined, “The 5 biggest data breaches of 2014 (so far)” (although the St. Vincent breach, in sheer number of people affected, wasn’t actually one of the five largest breaches). Also, SC Magazine, a trade publication for IT security professionals, flagged the St. Vincent breach and even posted the letter the hospital system sent to its patients. According to the Identity Theft Resource Center, there have been 21 percent more data breaches publicly reported in the United States so far this year, compared with the same period in 2013.
Competition soars at Indianapolis-area airports
An airport near Zionsville is upping the ante for Indianapolis International Airport reliever fields.
Lilly reaches multiyear agreement to sponsor IMS race
The race, which takes place the day before the annual NASCAR Brickyard 400 race at IMS, will be called the Lilly Diabetes 250.
Fletcher Place gains destination status
Fletcher Place on the southeastern edge of downtown for years served as little more than a pass-through for folks traveling between downtown and Fountain Square. But the triangle-shaped historic neighborhood is starting to carve out its own identity by drawing more residents and visitors to patronize the restaurants and drinking establishments sprouting along Virginia Avenue.
Commuting safely on bike can require counterintuitive behavior
The rate of bike commuting in Indianapolis has more than doubled since 2000, but many cyclists still don’t know—or follow—some basic guidelines that can keep them safe.
Doctors’ drug money
Indiana physicians and research organizations reaped more than $25 million in payments from 15 pharmaceutical firms in 2012, according to the most recent data made available by the not-for-profit group ProPublica. Lilly was the biggest spender and the IU medical school was the biggest recipient.
Tricky transition: Pillows balance family, business as son preps to take over
Even before taking over, Eddie Pillow is making changes at the logistics and courier company his dad started in 1988.
Report: Indiana boasts four nation-leading life sciences clusters
The areas around each of Indiana’s research university campuses—Bloomington, Indianapolis, Lafayette and South Bend—all boast outsize concentration of life sciences workers. Yet the state still lags on research, development and investment funding.
Company news
Hendricks Regional Health is extending its reach farther west via a collaboration with Putnam County Hospital in Greencastle. On July 10, the two hospitals will open a new obstetrics clinic, called Partners in Care, to provide prenatal care for low-income pregnant women. The clinic will be staffed by a Hendricks Regional Health nurse midwife, and two physicians from the Hendricks Regional Health Medical Group. Patients of Partners in Care will receive prenatal services at Putnam County Hospital, while deliveries will take place at Hendricks Regional Health in Danville. The idea of starting a clinic was boosted by a needs assessment conducted by DePauw University in Greencastle, which confirmed a shortage of prenatal care in Putnam County.
The U.S. Supreme Court ruled Monday that closely held corporations can hold religious objections that allow them to opt out of Obamacare’s requirement that they cover contraceptives for women at no charge. According to the Associated Press, the justices' 5-4 decision is the first time the high court has ruled that profit-seeking businesses can hold religious views under federal law. And it means the Obama administration must search for a different way of providing free contraception to women who are covered under objecting companies' health insurance plans. Contraception is among a range of preventive services that must be provided at no extra charge under the health care law that President Barack Obama signed in 2010 and the Supreme Court upheld two years later. Justice Samuel Alito wrote the majority opinion, which stressed that the ruling applies only to corporations that are under the control of just a few people in which there is no essential difference between the business and its owners.
Indiana Gov. Mike Pence hired Carmel psychiatrist Dr. John Wernert to take over the state's Family and Social Services Administration and tapped former FSSA Secretary Michael Gargano to oversee Pence’s Healthy Indiana Plan 2.0. Wernert is the medical director of medical management at Eskenazi Health in Indianapolis and was the medical director for behavioral health integration for the Franciscan Alliance health system. He'll replace outgoing Secretary Debra Minott, who unexpectedly announced her resignation in June; neither Pence nor Minott have explained her sudden departure. Gargano, who led the agency until Pence took office last January, is returning in the new role overseeing Pence's insurance expansion plan. The Pence administration is in the middle of pitching the Centers for Medicare and Medicaid Services on Indiana's proposal to use the state-run Healthy Indiana Plan 2.0 to expand Medicaid. If the application is approved, residents earning up to 138 percent of the federal poverty level would be allowed to enroll in a hybrid-health savings account plan. The state estimates that more than 457,000 low-income residents could enroll in the program by 2020.
Indianapolis-based Eli Lilly and Co. received European backing for a biosimilar version of Lantus insulin, a mega-blockbuster made by France-based Sanofi that has never faced generic competition. According to Bloomberg News, Lilly’s Abasria insulin was recommended by the European Medicines Agency’s Committee for Medicinal Products for Human Use for the treatment of diabetes. The European Commission, the EU’s executive arm, usually follows the panel’s recommendation. Lantus, which garnered $7.8 billion in sales for Paris-based Sanofi in 2013, loses patent protection in Europe in May next year. The U.S. patent on Lantus expires in February, but generic competition there may be delayed after Sanofi in January said it was suing Indianapolis-based Lilly over its plans to introduce a version in the U.S. Sales of the drug in Europe were less than 15 percent of the total in 2013, because the price of the drug is far lower than in the United States, which accounted for almost two-thirds of total Lantus sales, said Mark Clark, an analyst at Deutsche Bank AG in London. That may limit the erosion of Lantus sales in Europe, he said. Lilly is also trying to introduce a brand-name drug that would compete with Lantus. Last month, it released study results suggesting its once-a-day insulin injection, Peglispro, was better than Lantus in controlling patients’ blood sugar. Lilly has said it will file for U.S. approval to sell that drug in the first quarter of next year.
Lilly wins EU backing for version of insulin drug
Lantus, which garnered $7.8 billion in sales for Paris-based Sanofi in 2013, loses patent protection in Europe in May next year.
Flex-office operator adds 58 suites in Mass Ave area
Regus Group plc, which has other locations in the Indianapolis area, has taken more than 10,000 square feet downtown to open its latest flex-office center, where business owners can rent space by the day, week or month.
Carmel firm acquired by Silicon Valley company
Anacore Inc., which develops software for touch-screen programs, has been acquired by Prysm Inc., a San Jose, Calif.-based company that makes big-screen video walls that use Anacore’s technology.
INDIANA 100: Mainstreet tops fastest-growing companies list
Nursing home developer Mainstreet is the fastest-growing private company in the Indianapolis area.
Fledgling local organization crusading for innovation
Jerry McColgin saw firsthand the power of innovation during his 15 years at Whirlpool Corp., starting on the factory floor and working up to lead an Evansville-based team of 35 people scattered across 17 countries.
Indiana social services chief Minott leaving post
The head of the Indiana Family and Social Services Administration is on her way out just as negotiations heat up with federal officials over Gov. Mike Pence’s alternative to a traditional Medicaid expansion.
Lilly, IU expect $25M plan to create new model for drug R&D
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.
Company news
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.
People
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.