Eli Lilly and Co. said Friday that it has received an extra six months of marketing exclusivity on the antidepressant Cymbalta, its biggest selling drug. The extension could mean more than a billion dollars in sales for the Indianapolis drug maker.
Erbitux, a cancer treatment made by Indianapolis-based Eli Lilly and Co.'s Imclone unit, failed to help patients with advanced stomach tumors in a late-stage clinical trial.
Bristol-Myers Squibb Co. has agreed to pay $5.3 billion to acquire former Eli Lilly and Co. partner Amylin Pharmaceuticals Inc., a maker of diabetes therapies. The deal is valued at about $7 billion, which includes Amylin’s debt and a payment to Eli Lilly and Co. of about $1.7 billion.
Covance Inc. is seeking state and local tax incentives as part of a $150 million expansion that would create 465 jobs at its Greenfield operations, nearly doubling the number of employees there. The proposed expansion would occur over the next four years and include the construction of a new laboratory, the renovation of existing buildings, and the hiring of administrative and laboratory personnel, according to the Daily Reporter in Greenfield. Princeton, N.J.-based Covance, a pharmaceutical research company, acquired Greenfield Labs from Eli Lilly and Co. in October 2008 for $50 million and a 10-year agreement from Lilly to use Covance’s services. At that time, 264 Lilly employees shifted to Covance. The company now employs 565 workers at the site, according to the newspaper. The Hancock County Council is set to hear Covance’s request for incentives July 11. Documents filed with the county show the 465 jobs would add $29 million in salaries with annual pay averaging more than $62,000 per employee, the Daily Reporter said. The company uses the Greenfield Laboratories to conduct early-stage tests of experimental drug molecules, readying them for tests in humans.
Officials from Indiana University Health Arnett broke ground on a facility in West Lafayette last week, according to the Journal and Courier of Lafayette. The new location, housed in a former Kmart store, will add outpatient imaging and expanded laboratory services to IU Health’s existing services in West Lafayette. The $8 million facility also will include an urgent care center with extended hours of operation. Indianapolis-based IU Health operates a full-scale hospital in Lafayette.
Dr. Yang Sun, an assistant professor of ophthalmology at the Glick Eye Institute, received a five-year, $1 million grant from the National Eye Institute to study congenital glaucoma with the hope of discovering new treatments for common forms of glaucoma. “Glaucoma is a leading cause of irreversible blindness in the world, yet the mechanisms of glaucoma development remain poorly understood, and treatments are limited,” Sun said. “I’m hoping to understand the mechanism of inherited congenital glaucoma, in the hopes that this will provide insight and potentially lead to novel treatments for commonly seen forms of glaucoma.”
These examples all are tonic for the cheaters, self-dealers and dispiriting crooks among us.
Tania Castroverde Moskalenko, incoming CEO of The Center for the Performing Arts, turned a $500,000 deficit into a $300,000 surplus at her current organization in Tennessee. The 18-month-old Carmel center’s budget is almost seven times larger.
While upholding President Obama’s health care law, the U.S. Supreme Court may have created a way out for states that do not want to expand their Medicaid programs. Whether Indiana decides to opt out remains to be seen.
Stocks of hospital companies rose sharply and insurance companies fell Thursday after the Supreme Court upheld a requirement that almost all Americans carry health insurance. WellPoint shares were down more than 5 percent.
Among major occupational groups, only farming has a smaller share of African-Americans, government figures show.
The New Jersey-based pharmaceutical research company is seeking state and local incentives as part of the expansion, which would include a new laboratory, set to be finished in 2016. Covance already employs 565 workers at the site.
The first janitors’ union contract in the city will expire soon, and union organizers are looking to the Indianapolis City-County Council to give them a boost in the negotiations.
A new report shows Indiana’s life sciences companies performed better than their peers around the country—and far better than the rest of Indiana’s private sector—during the early phases of the economic downturn.
If approved for acute coronary syndrome, Xarelto would compete with Effient from Indianapolis-based Eli Lilly and Co and Brilinta from London-based AstraZeneca Plc.
Colleagues of Gov. Mitch Daniels say Hoosiers should expect him to bring a familiar approach to his upcoming role at Purdue University: Do more with less, reward performance, find creative ways to tap new pools of money, and use warm folksy charm.
The Indianapolis-based education reform group The Mind Trust will announce June 25 that it is awarding $1 million apiece to Indianapolis-based Christel House Academy and Boston-based Phalen Leadership Academies to launch new charter schools in Indianapolis.
As expected, Indiana Gov. Mitch Daniels will become the next president of Purdue University when he leaves office in January. Purdue officials introduced Daniels as the school's new leader Thursday following a vote by the board of trustees.
A board of trustees dominated by Daniels' own appointees will select him as the university's 12th president Thursday, sources told IBJ and other news outlets. The appointment will add a dramatic new chapter to his diverse career.
The local pharmaceutical giant plans to complete the program started in 2000 by repurchasing $420 million in shares by the end of the year. And on Tuesday, it declared a regular dividend of 49 cents.
Mitch Daniels, Indiana's two-term governor, will succeed France Cordova as Purdue University president, a source told IBJ Tuesday morning.
The U.S. Supreme Court did not hand down a ruling in the health care reform case Monday morning. The nine justices meet again Thursday, but most observers expect the decision to come June 25 or June 28.
