The Indianapolis International Airport board today voted unanimously to make former Eli Lilly and Co. CEO Randall Tobias its new president. Tobias was appointed to the board by Republican Mayor Greg Ballard. Tobias resigned from a State Department job last year after being linked to a call-girl ring. The eight-member airport board is evenly split […]
At least the lawyer got the same last name right. New York Times reporter Alex Berenson was able to break the story last week that Eli Lilly and Co. was secretly negotiating a $1 billion settlement with the government because an outside Lilly lawyer accidentally emailed him the details. The lawyer at Pepper Hamilton in […]
Back in the Dark Ages, before I started my company and before I was creative director at an advertising agency, I was a salesman. And my personality being what it is, I read a lot of books on sales. One of those that stood out was Harvey Mackay’s “Swim with the Sharks Without Being Eaten Alive,” in which he emphasizes “building your Rolodex.” Of course, not a lot of us use a traditional Rolodex anymore, but the basic tenet remains:…
It could be another Prozac moment. Eli Lilly and Co. is pitching its next star antidepressant drug, Cymbalta, for approval to treat the poorly understood pain of fibromyalgia. Regulators OK’d a drug specifically for fibromyalgia for the first time in June. The approval of Pfizer Inc.’s Lyrica sparked hope in fibromyalgia patients and advocates that more doctors will come to understand and diagnose the tricky condition, now that they have a medicine to treat it. That’s what happened 20 years…
Eli Lilly and Co. hopes to extend the life of its best-seller Zyprexa with a potentially lucrative, long-acting form of the antipsychotic drug. But first, the Indianapolis-based drugmaker must win over a panel of medical experts convened by the U.S. Food and Drug Administration on Feb. 6.
Fifty years ago, a sick or injured worker in a manufacturing plant did not have to leave work to get care-the worker simply went to the plant clinic and saw the company doctor. Today, the idea of the company clinic is making a come back, but with a new emphasis on wellness and prevention. health recommendations and concerns. In some cases, these routine visits can lead to the discovery of potentially serious conditions that might have otherwise gone unnoticed and…
Three months after launching an initiative to boost drug-development firms in Indiana, officials at BioCrossroads have written
a report that attempts to show in detail the vast market opportunity they see.
The more than 4,000 employees at the region’s second-largest manufacturer are waiting to learn whether some will lose their jobs. Rolls-Royce Group PLC plans to cut up to 2,300 U.S. and European positions. The British aerospace company on Jan. 11 said it plans to slash its work force by almost 6 percent among managerial, professional and clerical ranks. It blames rising raw material costs and the declining value of the U.S. dollar. First-half 2007 profits of $600 million were roughly…
Eli Lilly and Co. closed out 2007 with a strong increase in sales and profit. But it had to spend a lot to do it. Even as the Indianapolis-based drugmaker’s sales rose 16 percent in its fourth quarter, its selling, marketing and administrative expenses grew even faster: 23 percent, according to an earnings report issued […]
Mayor Greg Ballard this morning announced his leadership team for the 2012 Super Bowl bid but said the city will review the National Football League’s requirements before making a final decision whether to bid. Bids are due April 1. Ballard said a final decision about the bid will be announced by mid-February. Despite the hedging, […]
Eli Lilly and Co. profit grew 10 percent in the fourth quarter, to $986.4 million, on the strength of sales for its newer products. Sales of drugs including Cymbalta, Cialis, Alimta, Byetta and Forteo – all launched this decade – grew 30 percent in the quarter. Total sales grew 16 percent to $5.19 billion. The […]
The latest shareholder lawsuit against Eli Lilly and Co. over its drug Zyprexa gets personal. The shareholders blame Lilly’s board and top brass, both past and present, for what they call Lilly’s illegal marketing of Zyprexa. In all, the lawsuit asks 18 directors and officers to pay the company for at least the $1.2 billion it has spent to settle Zyprexa lawsuits and to return all compensation they received during an unspecified period when the marketing took place. They name…
The Indianapolis area didn’t experience a monster-size business transaction in 2007 like it has in recent years, but that doesn’t mean the deal-makers weren’t busy. IBJ’s annual list of Big Deals tracked more large business transactions involving Indianapolis-area companies than ever before in 2007, even though the total dollar amount of the deals was dramatically lower than the previous year’s. Deals compiled by the Indianapolis Business Journal that closed in 2007 totaled $23.4 billion, well below the $38.5 billion posted…
Central Indiana Corporate Partnership CEO Mark Miles will lead the city’s attempt to land the Super Bowl in 2012, according to a source familiar with the matter. The announcement of Miles’ selection is expected this week. The source, who asked not to be named, said Miles will oversee initial research as well as assembling the […]
Randall and Marianne Tobias have donated $1 million to the Indianapolis Museum of Art to renovate the museum’s 604-seat namesake theater. The newly polished venue will open this fall and IMA plans to screen films and bring in speakers on topics dear to the museum’s new focus on design and the interaction of art and […]
Indianapolis Mayor Greg Ballard this week plans to name a point person to head the city’s bid for the 2012 Super Bowl. Ballard spokeman Marcus Barlow said today the mayor’s office has moved forward and that other leaders are falling into place. John Lechleiter, who will become CEO of Eli Lilly and Co. in April, […]
Thanks to a series of major economic development wins, Indianapolis is enjoying a pharmaceutical distribution business hot streak. Life sciences industry leaders hope to keep the sizzle burning in 2008 and beyond. “It’s not something we’re hoping we can do someday. It’s something we’re already doing now,” said BioCrossroads CEO David Johnson. “We’re simply trying to expand the footprint of what we’re doing.” Pharmaceutical logistics has become a big business. According to the Arlington, Va.-based Healthcare Distribution Management Association, U.S….
For the last two months, two academics at Indiana University and Purdue University have been discussing how the institutions
can work together to rev up research in medicine and life sciences and, in the process, boost Indiana’s economy.
Greg Sipes likens the new executiveservices suite he and his partners opened three months ago to a BMW. Its quality is solid, to be sure, but what makes people want to drive it is its look and feel. It’s an apt comparison for the 2,500-square-foot wing of the new offices of Sipes’ behavioral health practice, Indiana Health Group. A set of boardroom-like double doors leads to a waiting room with shiny hardwood floors, dark wood paneling, plush rugs, overstuffed chairs…
Incoming Eli Lilly and Co. CEO John Lechleiter can add another feather to his nice-guy hat. Mike Huckman, who follows the pharmaceutical industry for CNBC, wrote in an online posting this week that he was impressed when he interviewed Lechleiter during an industry gathering Monday. Lechleiter takes over for retiring Lilly CEO Sidney Taurel on […]
