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Analyst: Lilly drug poised for continued growth
Eli Lilly and Co.'s lung cancer treatment Alimta is poised for continued growth based on recently released study data, according to a new Credit Suisse analyst report.
Indiana public companies had banner year
Corporations staged advances across a variety of industries in 2010 as the economy improved.
2010 was great for Indiana’s 100 largest companies
Despite enjoying rising revenues and profits, companies haven’t followed with big increases in job numbers.
Rolls-Royce lands more military work
Rolls-Royce Corp. this week was awarded a $34.2 million modification to an engine maintenance contract from the Department of Defense’s Naval Air Systems Command.
INSIDE DISH: Italian eatery tables expansion amid downturn
Aaron O'Mara, co-owner of Augustino's, expected to open several locales until the economic downturn and a dip in sales scuttled those plans. Now he hopes to hold the line.Company news
Eli Lilly and Co. is getting into orthopedics. The Indianapolis-based drugmaker signed a deal with Swiss company Synthes Inc. to co-promote the bone drug Forteo to orthopedic surgeons and to license some experimental drugs to Synthes. The companies also will team up to study an additional use for Forteo in fracture healing. Terms of the deal were not disclosed. Synthes specializes in developing and selling instruments, implants and biomaterials to fix bone and soft tissues. It has agreed to sell itself to New Jersey-based Johnson & Johnson for $21 billion. In a separate development, Lilly won the first round in a court battle with another development partner, San Diego-based Amylin Pharmaceuticals Inc. A federal judge rejected Amylin’s claim that, if Lilly uses the same sales force to sell Byetta, a diabetes medicine made by Amylin, and Tradjenta, a diabetes pill made by Germany-based Boehringer Ingelheim GmbH, it would be anti-competitive. Amylin promised to appeal.
Three weeks after the CEO of Riley Hospital for Children resigned, his right-hand man announced his departure, too. Brett D. Lee, the chief operating officer at Riley, announced his plans June 8 to leave the Indianapolis hospital for a new job in Atlanta. His last day will be July 6. It’s not clear if Lee’s departure is connected to the May 20 resignation of Dan Fink, who had been CEO of Riley for about two years. Fink was replaced as CEO on an interim basis by Marilyn Cox, Riley’s chief nursing officer. Lee was considered a rising star at Riley, which is part of the Indianapolis-based Indiana University Health hospital system. Less than a year after being hired by Riley in April 2010, Lee was named the young health care executive of the year by the American College of Healthcare Executives, in part for his work applying Six Sigma and lean-process methods to the health care environment. Lee will become senior vice president of clinical operations at Children’s Healthcare of Atlanta, the nation’s largest provider of pediatric care. It has three free-standing hospitals, with a total of 520 beds, as well as 17 outpatient facilities throughout the Atlanta metro area.
Carmel-based Woll Enterprises Inc. has won a contract to commercialize three medical products invented by two Florida physicians. Dr. Nevenka Horvat and Dr. Branimir Horvat, of Sarasota, Fla., have developed a medication for relief from psoriasis and eczema; a placental blood extractor; and a sequential lymphedema pump for removing excess fluid from swollen limbs. Woll Enterprises will try to locate funding to move the products toward market approval.
Dow AgroSciences LLC announced a deal to purchase assets from Iowa-based Sansgaard Seed Farms Inc. Indianapolis-based Dow Agro will receive rights to Sansaard’s Praide Brand Seed brand, as well as other marketing assets, land, buildings and equipment. Sansgaard’s Iowa headquarters and staff will remain intact. But now Dow Agro will market its corn and soybean seeds under the Prairie Brand name. Dow has made several acquisitions of seed distributors in the past three years to build a distribution network for its SmartStax genetically engineered seed, as well as future innovations, like its Enlist Weed Control System for corn and soybeans. Financial terms of the agreement were not disclosed.Nyhart, an Indianapolis-based actuarial and employee-benefits consulting firm, has acquired Atlanta-based Stanley, Holcombe & Associates, which focused on public pensions and defined-benefit retirement consulting. Financial details of the acquisition were not disclosed. Nyhart will keep the existing Atlanta office space as well as retain the entire Atlanta staff. The deal gives Nyhart a base of retirement clients that have more than $14 billion in plan assets.In December, Nyhart announced the purchase of the Kansas City, Mo., operations of retirement consultancy Alliance Benefit Group.
SKARBECK: Lackluster market forecast favors large U.S. stocks
One thing that does stand out is that, on balance, these returns are not exactly going to get investors to sit up and get excited.
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.
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.