Lilly enters collaboration deal with Swiss company
Drugmaker Eli Lilly and Co. has signed a deal with Swiss company Synthes Inc. to co-promote the bone drug Forteo and develop other potential orthopedic treatments.
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Lilly wins ruling in dispute with Amylin over diabetes drugs
Eli Lilly and Co. won a ruling in a lawsuit brought by Amylin Pharmaceuticals Inc., which wants to prevent Lilly from using the same people to sell Amylin’s diabetes drug and that of a competitor.
Drug industry outlook negative through 2012, Moody’s says
Earnings growth will continue to slow in 2011 for most of the industry’s biggest companies, analyst predicts.
Roche wins as high court limits university patent rights
Monday's Supreme Court decision is a victory for companies that collaborate with universities in research. Indianapolis-based Eli Lilly and Co. was among the companies that supported Roche.
Who’s Who in Life Sciences – 2011
In a monthly feature that runs in the first issue of the month, through October, IBJ is identifying influential players in eight different industry categories. Formidable brainpower sums up the individuals included in our list of Who’s Who in Life Sciences.
Lilly Endowment’s value holds steady at $5.3 billion
Eli Lilly and Co. stock, which accounts for 91 percent of the endowment’s assets, was worth nearly $4.8 billion at the end of 2010, a 2-percent drop over the previous year.
LEADING QUESTIONS: Influential Miles enjoys wide reach
What's the status of the Super Bowl? Mass transit for Indy? Economic development? How is one man so connected? Mark Miles shrugs off "power broker" but fits the bill.Lilly retiree runs Christamore on smaller budget
Christamore House, a west-side community center that was in danger of closing its doors last year, recently hired an Eli Lilly and Co. retiree as executive director. Bill Scott, 57, took on the job to give back to the Haughville neighborhood where his grandmother and other relatives lived.
Company news
Eli Lilly and Co. lost the first round of its family legal dispute with Amylin Pharmaceuticals Inc. The California-based company won an injunction that prevents Indianapolis-based Lilly from using the same sales force to sell the Amylin-created drug Byetta as well as a new drug called Tradjenta, made by Germany-based Boerhinger Ingelheim GmbH. Both drugs are for patients with Type 2 diabetes, and therefore would compete against each other. Byetta is an injectable medicine and Tradjenta is an oral agent. Lilly said it is disappointed with the first ruling and will keep fighting Amylin’s lawsuit.
Franklin-based Johnson Memorial Hospital and Indianapolis-based Community Health Network will put their clinical collaboration agreement into effect June 1. The agreement was reached in February, after Johnson Memorial also considered proposals from Franciscan St. Francis and Indiana University Health. The deal, while not an acquisition, solidifies Community’s presence in the fast-growing southern suburbs of Indianapolis, where it already maintains a 150-bed hospital along County Line Road. Johnson Memorial, located nearly 15 miles south, is licensed for 101 beds. Hospitals and doctors are being pushed by health insurance plans to partner up to keep patients healthy—both before and after they actually seek medical care. But Community and Johnson Memorial are also looking to expand their offerings, particularly for heart patients.
Advion BioServices, a subsidiary of New York-based Advion BioSciences Inc., has opened its 22,000-square-foot drug-discovery and bioanalytical laboratory at the Purdue Research Park of Indianapolis' technology center at the Ameriplex Business Park near the Indianapolis International Airport. The new facility, staffed with 50 employees, was announced in March. Advion, a contract-research organization, will focus on earlier-stage, drug-discovery and metabolism bioanalytical services that evaluate how a potential new medicine is absorbed and metabolized in experimental models. Many of these services generate the data needed to prepare a molecule for human trials.
Indianapolis-based BioStorage Technologies announced Thursday it has opened a 60,000-square-foot biorepository facility in Indianapolis. The $4.6 million facility, located near the Indianapolis International Airport, will be used to prepare, store and transport tissue and blood samples. BioStorage serves biotech companies, such as Massachusetts-based Biogen Idec, as well as medical-device makers such as Minnesota-based Medtronic Inc. and academic research institutions. The facility will allow BioStorage to prepare samples for its clients via automated equipment, which the company says provides the accuracy needed by high-volume medical researchers. BioStorage, founded in 2002, is one of a handful of central Indiana companies that have developed a specialty in life sciences logistics. Others include Indianapolis-based Sentry BioPharma Services Inc., Plainfield-based MD Logistics Inc., and Bloomington-based BioConvergence LLC.
Total pay for executives surged in 2010
Total executive compensation at Indiana’s largest public companies continued to rise sharply coming out of the recession, even though many of them have yet to erase the red ink in their shareholders’ portfolios.
HENDERSON: On power players and the future of kids
We expect IPS to take its students to the very pillars of academic success after thoroughly hog-tying them. It’s difficult to find more breathless insanity than this.
Court issues restraining order against Lilly
Amylin Pharmaceuticals Inc. says a federal court has issued an injunction preventing drug development partner Eli Lilly and Co. from using the same sales force to sell an Amylin-developed diabetes treatment and a competitor's.
Brain barrier breached in push to deliver Alzheimer’s drug
Scientists with Roche Holding AG, the parent company of Indianapolis-based Roche Diagnostics Corp., may have found a way to overcome a blood barrier that keeps drugs from directly entering the brain, potentially opening new pathways to attack Alzheimer’s disease.
Company news
Well, here’s some consolation for the nightmarish year WellPoint Inc. had in 2010: Its legal department was one of three finalists for “Best Legal Department” honors from Corporate Counsel magazine. The Indianapolis-based health insurer lost that competition to Google Inc., with UPS also a finalist. But WellPoint still got this praise from the magazine: “WellPoint’s lawyers had a tumultuous year, having to deal with political reaction to its Anthem Blue Cross subsidiary’s proposed California rate hikes, filed just as health care reform passions began to flare. Even after the Affordable Care Act was signed, the nation’s largest health benefits company continued to take heat from the president on down, while it struggled to interpret and comply with the new law.” Many regarded WellPoint’s headaches as self-inflicted, but that criticism was aimed at its former general counsel and now CEO, Angela Braly, not the current legal team.
Eli Lilly and Co. has agreed to license the U.S. marketing rights of its disappointing sepsis drug Xigris to a newly created biotech company that will seek to reinvigorate it. The new company, BioCritica, will be based in central Indiana and will be jointly owned by Lilly and two private investment firms: New Jersey-based Care Capital LLC and North Carolina-based NovaQuest Capital Management LLC. The company will be led by David Broecker, who managed Lilly manufacturing operations in Germany and Ireland before becoming CEO of Alkermes Inc., a Massachusetts-based drug development firm. Within Lilly, Xigris was well down the priority list to get time from scientists and other staff. In 2010, it generated sales of just $104 million, which was down 18 percent from the previous year. Xigris was the first drug Lilly launched after it lost patent protection on its bestseller Prozac in 2001. Expectations for the drug initially were huge, with some Wall Street analysts predicting annual sales of $2 billion. But the drug struggled after U.S. regulators issued a strong warning about its bleeding side effects and because hospitals struggled to identify which patients and in which situations the drug was appropriate. BioCritica hopes results from a new clinical trial of Xigris will establish clarity on how to use it, thereby reenergizing sales. BioCritica has an option to acquire the international rights to Xigris at a later date, as well as options to acquire other critical-care drugs that are in Lilly’s pipeline. BioCritica also hopes to acquire critical-care drugs from other drugmakers.
Riley Hospital for Children lost its CEO last week, but got a fresh round of positive publicity to help it find a new one. Dan Fink resigned on Friday, according to Indiana University Health, the parent organization for Riley. IU Health said it would launch a national search for a replacement. Meanwhile, Riley was once again ranked as one of the top 50 children’s hospitals in the nation by U.S. News & World Report. Riley was nationally ranked in each of the 10 specialties included in the report. Its only top 10 ranking is in urology. The complete rankings can be viewed online here.
A team led by researchers at the Indiana University School of Medicine has identified a potential new way to target the incurable disease of emphysema with drugs. The researchers identified a lung protein in mice that appears to play a role in smoking-related emphysema and have created an antibody that blocks the protein’s activity, according to an article posted on the website of the Journal of Clinical Investigation. The lead author on the study is Matthias Clauss, a research professor of cellular and integrative physiology at the IU med school. Mice exposed to cigarette smoke that received an inhaled version of the antibody had significantly less cell death and inflammation and improved lung function compared to the mice that did not receive the treatment. The benefits to the treated mice continued even after the treatment stopped.
People
Eli Lilly and Co. named Dr. David M. Kendall, currently chief scientific and medical officer of the American Diabetes Association, as a distinguished medical fellow who will serve as senior medical adviser for Lilly’s diabetes division. He will transition from his current role in late July. Kendall also is an associate professor of medicine at the University of Minnesota and an adjunct medical director at the International Diabetes Center, both located in Minneapolis.
Lilly licenses Xigris rights to new biotech firm
Eli Lilly and Co. has agreed to license the U.S. marketing rights of its slow-selling sepsis drug Xigris to a newly created local biotech company called BioCritica that will seek to reinvigorate sales of the medication.
Daniels ends speculation, decides against run for presidency
In overnight e-mail to supporters, Indiana Gov. Mitch Daniels cites family considerations as reason he will stay out of race.
Growth in drug spending to slow as generics rise
The annual growth rate in spending on drugs may be cut in half over the next five years as people opt for less expensive generic medicines over brand-name treatments, a health-care research group said Wednesday, highlighting the challenge pharmaceutical firms like Eli Lilly and Co. are facing.