Downtown tax district reaps unexpected windfall
The city has accumulated a $12 million surplus of funds from the downtown TIF district, raising questions from critics who wonder how the windfall came about.
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Lilly sues drug distributor over generic Zyprexa sales
Celesio’s Lloyds Pharmacy and Aah Pharmaceuticals businesses sold about 800,000 tablets of generic Zyprexa before agreeing in 2008 to halt sales, Lilly said in a complaint filed in the High Court in London.
People
Clarian Health named Dr. Philip Dulberger CEO and chief medical officer of its Clarian Saxony Medical Center, which is under construction in Fishers. Dulberger, an anesthesiologist, was hired by Clarian in 2006 to lead the development of the new hospital.
BioCrossroads has elected Darren Carroll, vice president of new ventures at Indianapolis-based Eli Lilly and Co., to the organization’s board of directors. Carroll oversees Lilly’s venture capital investments in the U.S. and Asia. He has previously chaired investment advisory committees for investment funds operated by BioCrossroads, an Indianapolis-based life sciences development group.
Eli Lilly and Co. named Jeffrey Winton its vice president of communications. Beginning Oct. 11, he will report to Bart Peterson, Lilly’s senior vice president of corporate affairs and communications. Winton has worked in communications roles for a variety of pharmaceutical firms, including Bayer Healthcare Pharmaceuticals, Schering-Plough, Pharmacia, Hoffmann-La Roche and American Cyanamid.
Jessica Jochim, a physician assistant, has joined St. Francis Medical Group Vascular Surgeons. She did her medical training at Butler University.
Dolce hotel, YMCA part of city-funded ‘North of South’ development
The city plans to issue bonds and use tax-increment financing to fund the $150M project, which also will include 320 high-end apartments and 40,000 square feet of retail space. Construction should begin this year.
$150M ‘North of South’ project moving ahead
Officials are announcing details of an ambitious downtown development planned for 10 acres Eli Lilly and Co. owns near its Indianapolis headquarters. The project will include a hotel, apartments, restaurants and retail space and a YMCA.
Rolls-Royce scores $19.2M helicopter contract
The local operations of the British aerospace firm has won an Army contract to build 40 more engines for the OH-58D Kiowa Warrior helicopter.
Local United Way eyes broader donor base
After losing more than 6,000 donors in a single year, the United Way of Central Indiana is making its first concerted effort to reach people outside their workplaces.
IU hits license jackpot; Purdue royalties surge
Indiana University had a license or two to print money from the commercialization of its technology over the last year—and did it ever. While Purdue University didn’t collect as much in royalties from commercialization, it pulled down record levels of research grants.
Lilly discovers social media
Eli Lilly and Co. launched its own blog this month, dubbed LillyPad, to try to start discussions about public policy and corporate social responsibility. The Indianapolis-based drugmaker also launched an accompanying Twitter feed.
Company news
Indianapolis-based VoCare Inc. has raised $2.2 million from angel investors to launch a mobile device that connects doctors with patients, and expects to reach $3.5 million in fundraising by the end of the year. The startup has developed a device that can combine a tablet computer with a cell phone and a pendant device that calls for help in case of a fall. The company intends to charge about $600 for the device, which could replace a traditional cell phone, plus $120 per month for communication services. VoCare, which has six employees, hired Indianapolis-based AGS Capital LLC to do the fundraising.
Eli Lilly and Co. plans to invest as much as $150 million in three venture-capital funds to aid development of medicines. The funds may be worth up to $250 million each, and Indianapolis-based Lilly will contribute as much as 20 percent of the money, according to Bloomberg News. CMEA Capital, a San Francisco venture-capital firm, started raising money in August for one of the funds with Lilly. Lilly needs to find new medicines as drugs accounting for nearly half its 2009 sales are set to lose patent protection in the next three years, led by bestselling antipsychotic Zyprexa. The Indianapolis-based drugmaker spoke with more than 80 venture-capital and private-equity firms over a year before choosing partners, Bloomberg reported.
Major Hospital and St. Francis Hospital opened a $1.5 million cardiology center on Monday. The UnaVie center, located in the Intelliplex Medical Arts Center in Shelbyville, will house cardiologists, pulmonologists and other medical staff. Dr. Chris Ballast will serve as medical director for the cardiac clinic.
Columbus Regional Hospital has joined the Indiana Network for Patient Care, which allows more than 65 hospitals, long-term-care and other health care providers to swap clinical information about patients. The network, operated by the Indianapolis-based Regenstrief Institute Inc., processes 2.5 million transactions daily, including lab test results and medication and treatment histories. The network is also part of the Indianapolis-based Indiana Health Information Exchange. Columbus Regional is a 225-bed hospital south of Indianapolis.
Senate panel refuses to fund GE engine made by Rolls-Royce
The decision holds potential bad news for Indianapolis engine maker Rolls-Royce, which produces the engines. Rolls-Royce is the region’s second-largest manufacturer, behind Eli Lilly and Co., with about 4,300 local employees.
Lilly wins appeal in Zyprexa case
An appeals court overturned a ruling from two years ago that granted class-action status to plaintiffs who alleged improper marketing of the schizophrenia drug.
Lilly wins reversal of class action in Zyprexa suit
A U.S. appeals court in New York threw out a September 2008 ruling that said plaintiffs could pursue as a group claims that Zyprexa marketing caused them to pay more for the drug than what it was worth. The plaintiffs were seeking $6.8 billion in damages.
On-site health care clinics moving beyond traditional settings
Health clinics based in employers’ offices are showing signs of breaking out of their niche among blue collar and government employers—factories, warehouses and school corporations—and could pop up in Class A office buildings filled with white collar workers.
United Way teams with Colts for fundraising campaign
United Way of Central Indiana will appeal to Colts fandom this fall as it tries to meet an all-time high fundraising goal of $41 million. In a first-time partnership with the agency, the Colts are sponsoring giveaways that will be available to anyone who donates.
Lab used by Lilly, peers accused of animal cruelty
An investigation found that lab employees kicked, threw, and dragged dogs; lifted rabbits by their ears and puppies by their throats; violently slammed cats into cages; and exposed animals to toxic chemicals.
Lilly investing up to $150M in VC funds
The three venture funds, which will focus on drug development, may be worth a total of $750 million, up to $250 million each, and Lilly will contribute as much as 20 percent of the money.
Company news
After a string a bad luck, Eli Lilly and Co. finally won a court ruling in a patent case. The U.S. Court of Appeals for the Federal Circuit in Washington stood behind a lower-court ruling that blocks plans by Israel-based Teva Pharmaceutical Industries Ltd. to sell a generic version of the Evista osteoporosis treatment before March 2014. The court also said the judge was correct to invalidate two other patents that expire in 2017. The ruling protects a drug that generated $682.2 million in U.S. sales last year for Lilly. Last month, Lilly lost an appeal over the patent on its cancer medicine Gemzar and lost an initial ruling over the patent on its attention-deficit treatment Strattera.
Indianapolis-based SonarMed Inc., which makes respiratory monitoring technologies for hospital patients, has raised $1 million from angel investors. The money should allow SonarMed to launch its Airway Monitoring System, which won clearance from the U.S. Food and Drug Administration in April. Participants in the Series A funding round included StepStone Angel Investors, Spring Mill Venture Partners and BioCrossroads, all headquartered in Indianapolis, along with Chicago-based Hyde Park Angels and Cincinnati-based Queen City Angels.
Clarian Health is expected to create nearly 1,200 jobs when it builds a neurosciences center and administrative building just south of Methodist Hospital. Clarian is partnering with Shiel Sexton Co. Inc. on the roughly $200 million project, in which the hospital system would lease space in the buildings. The 1,187 jobs Clarian expects to create would boast an average annual salary of nearly $47,000. Clarian plans to start construction in November on the 247,000-square-foot, $120 million neurosciences center, with a completion date of April 2012. Meanwhile, work on the 280,000-square-foot, $87 million administration building is scheduled to start in April and would be finished in May 2013.
Angie’s List has partnered with Tennessee-based Healthcare Blue Book to give consumers price information before they receive medical care. The Indianapolis-based consumer review and rating service started making the price information available to members on its website Wednesday. The same information already is available directly from Healthcare Blue Book, a website launched last year that provides the average price health care providers charge for services ranging from ordinary pediatrician visits to complicated surgeries to expensive diagnostic imaging tests. Healthcare Blue Book encourages consumers to negotiate upfront with health care providers, even generating a contract for them to sign agreeing to the fair price Healthcare Blue Book’s database finds for the doctor’s local area. Angie’s List has been making available consumer-generated reports and ratings on health care providers since the spring of 2008.
CEO says Lilly still not interested in huge acquisitions
Lilly remains disinterested in making big acquisitions and aims to rely on the company’s own pipeline, CEO John Lechleiter said Tuesday, re-emphasizing a strategy he has outlined several times in the past year.
Appeals court ruling upholds Lilly’s Evista patents
Eli Lilly and Co. won a court ruling Wednesday that blocks plans by Teva Pharmaceutical Industries Ltd. to sell a generic version of the Evista osteoporosis treatment before March 2014.