Ten drugmakers team up to improve testing process
Pharmaceutical industry heavyweights, including Eli Lilly and Co., are teaming up to improve the way experimental drugs are tested so they can get approved, and reach patients, faster.
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Study: Indiana tax code discourages small businesses
A new study of Indiana's business tax structure suggests the state's tax code discourages the small, home-grown businesses often considered the engines of job creation.
Marian University restoring velodrome to former glory
Marian University has sunk $350,000 so far into restoring the Major Taylor Velodrome near its campus, and has plans for much more.
FDA drug-review deal may unravel as fiscal cliff looms
A $6.4 billion accord for U.S. drug and medical-device reviews is set to unravel just three months after taking effect as lawmakers squabble over budget cutbacks.
Lilly’s Alimta fails to extend survival in lung cancer study
Eli Lilly and Co. said Thursday that its cancer drug Alimta didn’t extend overall survival when combined with Roche Holding AG’s Avastin in patients with a form of lung tumor.
People
Dr. Amanda Beach, a pediatrician, has joined St. Vincent Medical Group in Carmel. She earned a bachelor’s degree from the University of Dayton in Ohio and her medical degree from the Loyola Stritch School of Medicine in Chicago. She completed her pediatric residency at Riley Hospital for Children at Indiana University Health.
The School of Science at IUPUI has hired Steve Pressé as an assistant professor of physics. Pressé recently completed a fellowship in biophysics at the University of California at San Francisco. Pressé earned a bachelor’s degree from McGill University in Canada and earned his doctorate in chemical physics at the Massachusetts Institute of Technology.
OrthoWorx, the Warsaw-based orthopedics business development group, named Sheryl Conley its next CEO, replacing David Floyd, who plans to return to a position in the orthopedic industry. Conley is a 25-year veteran of Warsaw-based Zimmer Holdings Inc., where she was most recently chief marketing officer. She earned a bachelor’s degree in biology and chemistry as well as a master’s in business administration from Ball State University.
Eli Lilly and Co. announced that Michael Harrington will become its general counsel on Jan. 1, replacing Bob Armitage, who will retire at the end of this year. Harrington is Lilly’s deputy general counsel, overseeing legal matters at Lilly’s five business units. He earned his law degree from Columbia University and joined Lilly in 1991. Armitage joined Lilly in 1999 as general patent counsel for Lilly Research Laboratories. He has been the company’s general counsel for the past decade.
Anesthesia Consultants of Indianapolis LLC added three new physicians in July. Dr. John Gripe and Dr. Evan Miller both did their medical training at the Indiana University School of Medicine. Dr. Lindsey Hansen earned her medical degree at St. George’s University School of Medicine.
Two more clinical trials go against Lilly
In the midst of Eli Lilly and Co.’s surprisingly positive news about its experimental Alzheimer’s drug, the company suffered two other setbacks with former stars of its pipeline.
Lilly stops testing of experimental schizophrenia drug
Eli Lilly and Co. halted testing on an experimental treatment for schizophrenia after the company determined the drug was unlikely to show a benefit in patients.
Does Lilly have enough on Alzheimer’s drug?
After Eli Lilly and Co. found a “glimmer of hope” in its test of its experimental Alzheimer’s drug, doctors and stock analysts generally concluded the company needs to conduct another long clinical trial to prove the drug’s effect. But one stock analyst thinks Lilly already has what it needs to ask for approval for its drug.
Company news
Angry shareholders of WellPoint Inc. are searching out and suggesting replacements for WellPoint CEO Angela Braly, according to analysts interviewed by IBJ and Bloomberg News. Sheryl Skolnick, a health care analyst at CRT Capital Group in Connecticut, and Jason Gurda, a Leerink Swann & Co. analyst in New York, said investors have suggested James G. Carlson, the chief of Amerigroup Corp., as Braly’s replacement. Gurda also said investors have suggested David B. Snow Jr., the former chief of Medco Health Solutions Inc., as a candidate. Indianapolis-based WellPoint is buying Amerigroup, a rival insurer, for $4.9 billion. Medco was recently acquired for $29.1 billion in April by Express Scripts Holding Co., a fellow drug-benefits manager. While neither man has publicly expressed interest in the job, and WellPoint’s board has expressed confidence in Braly, that hasn’t stopped the speculation, Gurda said. Other names raised by investors include Gail Boudreaux, head of the health plan division at UnitedHealth Group Inc., the biggest U.S. medical insurer, and Kenneth Goulet, WellPoint’s executive vice president, said Thomas Carroll, a Stifel Nicolaus & Co. analyst in Baltimore.
Eli Lilly and Co. won a U.S. appeals court ruling that upholds the validity of a patent for the lung-cancer drug Alimta and blocks generic competition through 2017. The U.S. Court of Appeals for the Federal Circuit on Aug. 24 rejected arguments by Teva Pharmaceutical Industries Ltd. that the patent was invalid. It affirmed a lower court ruling. The decision was posted on the court’s website. Alimta, whose chemical name is pemetrexed, generated $2.5 billion in sales last year for Indianapolis-based Lilly, making it the company’s third-biggest-selling drug. Alimta is designed to hamper cancer cells’ ability to use folic acid to grow after an initial treatment with other drugs. Israel-based Teva had argued that Lilly had patented a compound that wasn’t much different from what was covered by two earlier patents. The three-judge panel said the lower court was correct to rule that the 2017 patent is distinct from the earlier inventions.
The U.S. Food and Drug Administration has identified a southern Indiana farm that produced cantaloupes linked to a deadly salmonella outbreak and says the operation has recalled its melons, according to the Associated Press. Chamberlain Farms of Owensville could be one source of contaminated fruit in the multistate outbreak that has infected 178 people, hospitalized 62 and killed two, the FDA said in an Aug. 22 statement. Attorney John Broadhead said Chamberlain Farms voluntarily withdrew its cantaloupes last week and that all its retail and wholesale purchasers complied with the recall. The farm about 20 miles north of Evansville sold cantaloupes to grocery stores in four southwestern Indiana counties and one in southeastern Illinois, Broadhead said in a prepared statement. The fruit was also sold to wholesale purchasers in St. Louis; Owensboro, Ky.; Peru, Ill.; and Durant, Iowa. Neither the FDA nor the farm gave any information about what might have caused the contamination.
Lilly’s Alzheimer’s finding triggers investor hope, doctor caution
While investors supported the sliver of promise offered when Eli Lilly and Co. said its Alzheimer’s drug may slow progression early in the disease, doctors weren’t as impressed, saying it could take years to find out for sure.
Lilly wins appeal upholding patent for Alimta cancer drug
Eli Lilly and Co. won a U.S. appeals court ruling that upholds the validity of a patent for the lung-cancer drug Alimta and blocks generic competition through 2017. Alimta generated $2.5 billion in sales last year.
Alzheimer’s drug results leave Lilly ‘excited’ but uncertain
The surprise positive effect shown by an experimental Alzheimer’s drug “excited” executives at Eli Lilly and Co., but it raised as many questions as it answered.
Lilly’s Alzheimer’s drug trials show mixed results
Eli Lilly and Co.’s experimental Alzheimer’s drug failed to meet its primary goals in two separate clinical trials. However, when the results of both trials were combined, the drug appeared to have slowed the decline of cognition in some patients.
Web services firm plans downtown office, 300 jobs
San Francisco-based cloud-computing service provider Appirio Inc. said it will spend $2 million to open an office in downtown Indianapolis’ Pan Am building, where it will employ 300 by 2015.
Company news
North Carolina-based Quintiles, a contract researcher for drug companies, will lease 12,000 square feet in the Pan Am building for the next five years in a move to get closer to Eli Lilly and Co., one of its major clients. The office, which initially will employ 50 people, is a collaborative project of the two companies, Quintiles spokesman Phil Bridges told the Triangle Business Journal. “The goal of the collaboration has been to develop an integrated approach to optimizing how [human drug] trials are conducted, eliminate costly inefficiencies and use ‘big data’ to drive better drug development decisions,” Bridges said. The office could employ as many as 65 by the end of the year.
Here’s one way to win over skeptical locals in your hometown market: spend $1 million. Indianapolis-based hospital system Indiana University Health, which took that name last year after being called Clarian, will give $1 million to Purdue University to help build a facility that will, in part, house a satellite campus of the IU School of Medicine. IU Health was formed in 1996 by a partnership between the IU medical school and Indianapolis’ Methodist Hospital. IU Health operates one of its hospitals, IU Health Arnett, in the back yard of Purdue’s main campus in West Lafayette. When they made the name change, IU Health executives acknowledged it might present challenges in Lafayette, but they said market research showed the name still was preferred to the vanilla Clarian.
The recent sale of a California-based medical device company sent some money back to Indiana. MindFrame Inc. was acquired for $75 million by Massachusetts-based Covidien Inc. That produced an undisclosed return for Indianapolis-based CHV Capital, the venture capital arm of the Indiana University Health hospital system as well as SV Life Sciences, a Boston-based venture capital firm that has received funds from the $58 million INext Fund raised by Indianapolis-based life sciences development group BioCrossroads. MindFrame develops devices for minimally invasive removal of blood clots from stroke patients. In addition to the cash from Indiana, the company also received technical help from students at Rose-Hulman Institute of Technology in Terre Haute and some consulting advice from participants in the Indiana Clinical and Translational Sciences Institute. “Our relationship with CHV Capital and IU Health became an important element of creating value in the business and was a natural extension of our fund-of-fund relationship with BioCrossroads and INext,” said David Milne, managing director of SV Life Sciences.
ICVA eyes funds from sale by CIB of downtown’s Ober building
The Capital Improvement Board wants to plug a $2 million funding hole that will open up next year for the Indianapolis Convention & Visitors Association with the expiration of a $5.9 million grant from the owner of the JW Marriott hotel downtown.