Cargolux adding third weekly European cargo flight
International flights for Roche Diagnostics from Indianapolis International Airport expand city’s export capacity, bolster airport’s cargo ambitions.
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Articles
Indiana’s medical device workforce will need skills upgrade
A new report by BioCrossroads says 53 percent of the 20,000 jobs in Indiana’s medical-device sector require no more than a high school education.
At long last, Roche wins approval of Nano
The OK for a new blood glucose monitor comes more than two years after FDA officials declined to approve a previous version of the Nano, which in rare cases generated inflated blood sugar readings because it did not distinguish properly between the sugars glucose and maltose.
Company news
Roche Diagnostics Corp. is ramping up cargo shipments between the U.S. and Europe, securing a third weekly Cargolux flight at Indianapolis International Airport to ship its medical products overseas. The flight, which began Jan. 15, is the first scheduled Cargolux flight to depart Indianapolis and fly nonstop to Europe–opening up new export capabilities from central Indiana. Currently, Cargolux Airlines International operates two inbound flights from Luxembourg to Indianapolis, each Wednesday and Friday. Boeing 747 freighters typically take on Roche’s chemical reagents and medical devices and then stop in Chicago or other cities before heading back to Europe. The outbound Boeing 747 will have room for additional cargo, which Roche hopes to grow into, but it also could be used by other companies shipping products to Europe. Roche, based in Switzerland, operates its North American headquarters out of Indianapolis.
AIT Laboratories, one of the area’s fastest-growing companies in recent years, is now eliminating jobs. The Indianapolis-based forensics and clinical testing company won’t say how many, but officials admit its business got pinched in 2011 and now it is trying to restructure. “AIT has seen reimbursement from government and private payers reduced throughout 2011, which has had a negative financial impact on the company,” CEO Michael Evans said in a prepared statement. The job cuts are a turnabout from 2010, when AIT said it planned to create as many as 160 positions by 2014 and invest $74 million to equip a 90,000-square-foot building at Woodland Corporate Park as a new headquarters and lab. The Indiana Economic Development Corp. offered AIT up to $1.8 million in performance-based tax credits to help with the expansion. AIT had boasted as many as 500 employees recently. Some pharmacy industry websites have been buzzing with talk about “massive” job cuts at AIT, with claims of as many as 100 furloughs. AIT officials would not confirm or deny those numbers.
A California-based pharmaceutical company says it expects to hire 234 people by 2016 at a new operation on the site of a former Pfizer Inc. drug plant on the south side of Terre Haute. NantWorks LLC plans to invest $85.5 million to redevelop the facility. The manufacturing plant, which is expected to be operational in 2015, will produce cancer drugs and injectable medicines for use in critical care settings. Pfizer employed more than 800 workers at the site before closing in 2008. NantWorks officials say scientists, chemists and engineers employed by the plant will earn an average annual salary of about $51,000.
Warsaw-based Zimmer Holdings Inc. acquired Synvasive Technology Inc., which makes Stablecut surgical saw blades and a soft tissue balancing system for knees. Zimmer did not disclose the price it paid for Synvasive, a privately held company based in Reno, Nev. Zimmer has annual sales of more than $4 billion and sells its orthopedic implants in more than 25 countries.
Roundup: BoomBozz Pizza, Off Broadway Shoes, DiBella’s Subs, Happy’s Pizza
Our latest retail and restaurant roundup features a new warehouse shoe store called Off Broadway Shoes and two new pizza joints, Happy’s and BoomBozz.
City set to cancel tax abatement for medical device firm
Polymer Technology Systems said in 2007 that it would make a $3 million investment at its operation on Zionsville Road and create 110 jobs.
Restaurants and stores plan new Indy locations
Off Broadway Shoes highlights new retailers entering the market.
Bill aims to lift upside for 21st Century fund
Republican State Sen. Brent Waltz has filed a bill that would require the Indiana Economic Development Corp. and businesses seeking awards from the 21st Century fund to match the state’s money with outside capital at a four-to-one ratio.
Company news
Subah Packer, a physiology professor at the Indiana University School of Medicine, filed a scathing gender discrimination lawsuit in federal court in Indianapolis this month, accusing the school of paying her less than what male counterparts with less experience earn, even after she attained tenure at the academic medical center. Packer, 57, wants IU to compensate her for loss of past and future income, and pay her attorney's fees. She has worked for IU since 1986 and has been a tenured associate professor of clinical and integrative physiology since 2001. Since then, Packer alleges, her department has hired five less-experienced professors, all male, and paid four of them substantially more than Packer. Her complaint lists her salary as $74,600, compared with starting salaries of roughly $92,000 for three of the newer hires, as well as $82,000 and $72,000 for the other two. Packer also alleges that her salary is below the median of the Physiology Department, which includes 19 full-time professors, even though her teaching load was greater and she had less lab space for conducting research. Mary Hardin, a spokeswoman for the IU medical school, said the school would not comment on the lawsuit. Packer could not be reached for comment.
The city of Indianapolis rescinded a tax abatement last week given in 2007 to Polymer Technology Systems Inc., a small locally based maker of handheld blood monitors. PTS, founded in 1992 by a former Roche Diagnostics Corp. employee, said it would make a $3 million investment at its operation on Zionsville Road and create 110 jobs by 2010, but fell short of its goal. The company has made $2.1 million in investments and currently has only about 70 employees, less than the 80 it had when it received the abatement four years ago, according to the city. PTS chose to terminate the deal rather than renegotiate with the city. PTS makes CardioChek, a handheld meter that measures levels of cholesterol, glucose, triglycerides and other key health indicators from a drop of blood.
Researchers at Indiana State University discovered a new compound that could help boost patients' immune systems without causing unwanted side effects. Biology professor Swapan Ghosh and a team of chemistry professors and graduate students have now patented their chemically modified version of phytol, which is a component of the chlorophyll found in vegetables. Terre Haute-based Indiana State will market the compound to drug companies, which might want to pair it with a drug or vaccine in order to boost effectiveness in patients. Many drugs and vaccines rely on adjuvants like the one Ghosh’s team discovered, but they often have side effects. One of the most widely used adjuvants, alum, has recently come under attack as a possible cause for brain disorders.
TRAVEL: Surprise! Carmel has turned into a place I’d like to visit
Over the past few months, we’ve fallen in love with a charming city just a few miles north of our Indianapolis home.
Roche sales rise 4 percent in 2011
Roche Diagnostics Corp.’s North American business, which is headquartered in Indianapolis, posted a 4-percent boost in sales last year on the strength of its fluid analyzer business unit, even though its diabetes sales fell.
KISSINGER: Measuring success with wealth, not jobs
Today, we hear an endless drumbeat about job creation and use that as a metric to judge government incentives. What we really want is “wealth creation” through innovations that satisfy customers.
BioCrossroads has stoked state’s life sciences industry, but challenges remain
In the 10 years BioCrossroads has been promoting life sciences in Indiana, the effort has netted more than 330 new companies, an infusion of more than $330 million in venture capital, a tripling of exports, and a growing number of mentions in national reports on life sciences.
Talks start on developing ‘airport city’ to boost region
The Indianapolis Airport Authority is moving ahead with plans to build an “airport city” centered on its property, but not without buy-in from the surrounding communities.
Hybrid-vehicle hopeful Bright Automotive folding
Bright Automotive Inc., an Anderson company that once hoped to become a major hybrid-vehicle player with hundreds of employees in central Indiana, has called it quits after failing to land a $450 million government loan.
‘Reverse commute’ service starts Monday in Hamilton County
Employers say extended service could bring acces to job prospects in Marion County
Commuter lines expand with Carmel, Fishers shuttles
The Central Indiana Regional Transportation Authority has announced fares for a new reverse-commute shuttle-bus service from park-and-ride lots in Carmel and Fishers. The service begins Monday.
Roche’s downsizing to claim about 80 local IT workers
Roche Diagnostics Corp. plans to eliminate about 80 information technology jobs at its Indianapolis-area campus over the next two years, the company said Thursday morning.
Company news
Indianapolis-based Strand Diagnostics LLC will receive up to $30 million in investment capital over the next three years from Los Angeles-based NantWorks LLC, a seed-stage investment firm, the companies announced last week. Strand Diagnostics makes the Know Error system, which uses bar coding and DNA matching to make sure biopsy samples are matched to the correct patients when submitted to its labs for testing. The investment capital will help it scale up its operations and sales efforts, the company said in a news release. NantWorks is the same company that announced in January it would sink $85.5 million into a former Pfizer Inc. plant in Terre Haute to produce injectable drugs for use in cancer patients and in critical care situations. NantWorks predicted the plant would employ 234 people by 2016. Strand Diagnostics, which operates a testing lab south of Indianapolis International Airport, launched Know Error in 2009. The company has 58 employees, with 48 of them in Indiana.
The Federal Trade Commission gave the OK to the marriage of Express Scripts Inc. and Medco Health Solutions Inc., two pharmacy benefit managers that combined employ 800 people in the Indianapolis area. The $29 billion deal, according to Bloomberg News, would create the nation’s biggest manager of prescription-drug benefits for corporate and government clients. But it is unclear how the merger will affect staffing at St. Louis-based Express Scripts' facility near Indianapolis International Airport and Medco’s distribution center near Whitestown. A combined Express-Medco would handle 34 percent of prescriptions in the U.S. this year, according to Adam Fein, president of Pembroke Consulting Inc. in Philadelphia, who is a consultant for Express Scripts. However, that share will shrink to 29 percent next year because Minnesota-based UnitedHealth Group Inc. switched from Medco to its own pharmacy benefits unit, OptumRx.
Federal authorities charged a Carmel man on Friday with using his Indianapolis business to defraud the Indiana Medicaid program of more than $1 million. Donald Hamilton, 49, allegedly used his company, Hamilton Medical Inc., to generate false invoices showing that compression stockings for another of his companies, Indianapolis-based Compression Etc., cost almost three times what he paid for them. Hamilton sent invoices to the Indiana Medicaid program for reimbursement for an amount much higher than allowed by law, according to charges announced by Joseph Hogsett, U.S. attorney for the Southern District of Indiana. He said the investigation was a collaborative effort among the Department of Health and Human Services, Federal Bureau of Investigation, the Internal Revenue Service’s criminal investigations unit and the Indiana Attorney General’s Medicaid fraud control unit.
Roche Diagnostics Corp. plans to eliminate about 80 information technology jobs at its Indianapolis-area campus over the next two years. The first round of reductions is to be completed by June 30. The IT workers are actually part of Roche Group’s global pharmaceutical informatics unit, but live in the Indianapolis area, said Roche spokeswoman Julie Bower. Roche employs about 3,000 people at its Indianapolis and Fishers facilities. The company’s worldwide headquarters are in Basel, Switzerland.
Warsaw-based orthopedic implant maker Biomet Inc. agreed to pay $22.7 million to settle allegations that it bribed government-employed doctors in Argentina, Brazil and China for more than eight years to win business with hospitals. The Justice Department and the Securities and Exchange Commission announced the settlements March 26. Biomet will pay a $17.3 million criminal penalty but won't be prosecuted by the Justice Department if it institutes strict internal controls to prevent bribery and hires an expert to monitor its compliance for 18 months. Biomet, which operates in about 90 countries, also agreed to pay $5.4 million in restitution to resolve the SEC's civil charges. Biomet is the third medical device company—in addition to New Jersey-based Johnson & Johnson and U.K.-based Smith & Nephew plc—to pay a criminal penalty and sign a deferred-prosecution agreement in the government's investigation into bribery by medical device makers of doctors employed by governments overseas.