Carmel drug developer Marcadia Biotech has received a $15 million venture capital investment from Frazier Healthcare Ventures of Seattle and locally based Twilight Venture Partners. The funding will help Marcadia develop projects including a glucagon analog for emergency treatment of hypoglycemia, the company announced today. Marcadia, which is led by former senior executives of Eli Lilly […]
Stephen Goldsmith has taken a director position of a new infrastructure finance and investment group created by Capital Source, a Chevy Chase, Md., investment and asset management group. The new unit will buy and finance long-term transportation, utility and recreation assets in the United States, Capital Source said today. During two terms as Indianapolis mayor […]
Eli Lilly and Co. said today that it has become the second corporation, after IBM, to make public a policy forbidding using employees’ genetic information to discriminate in employment choices or eligibility for benefits. The Indianapolis pharmaceutical maker said employees are more likely to take part in individual healthcare programs if they’re assured information from […]
The Corporate Library has named Eli Lilly and Co. among a dozen large companies that have the most pronounced gap between stock performance and compensation of CEOs. Lilly chief executive Sidney Taurel was paid a total of $27.4 million in the past two years, but the five-year return on Lilly stock was a negative 24.6 […]
Competition for top college presidents is intense these days. But neither Indiana University nor Purdue University trustees appear willing to break the bank to make sure they’re landing the right leader. About one in six of the public universities surveyed by the Chronicle of Higher Education now pays its president more than $500,000. That’s well above the $400,000 IU’s new leader, Michael McRobbie, will collect-though his wife, Laurie Burns McRobbie, will receive another $90,000 for her efforts to support and…
Eli Lilly and Co. said today it has hired Alex M. Azar II as senior vice president of corporate affairs and communications. Azar comes to Lilly from the U.S. Department of Health and Human Services, where he was a deputy overseeing the Food and Drug Administration, the Centers for Medicare and Medicaid Services, the National […]
Indiana Supreme Court Chief Justice Randall T. Shepard will speak in place of Randall Tobias at commencement ceremonies Sunday for the Indiana University School of Law–Indianapolis, according to the Indiana Lawyer. Tobias, a former CEO at Eli Lilly, resigned late last month as a deputy secretary of state in the Bush administration over an alleged […]
Eli Lilly and Co. became the first drug company to make public its grants to U.S. organizations by posting the records on its Web site today. Most of the grants focus on endocrinology, neurosciences, oncology and other areas where Lilly develops drugs. The largest in the first quarter was to Massachusetts General Hospital’s Department of […]
Small-business owners have plenty on their plates-like finding customers and keeping them happy. But CIK Enterprises partners Scott Hill and Andy Medley have found room for a heaping helping of generosity, too. The west-side direct marketing firm has a program in place that directs 1 percent of monthly profit to local charities, a seemingly small number that nevertheless is growing along with the 7-year-old company. That’s the idea. “Capitalism has a negative connotation as something that’s profitdriven and cut-throat,” Medley…
The diversification of the state’s two enormous public pension funds into private equity is transforming Indiana’s venture capital sector. And their $155 million Indiana Investment Fund is the largest factor in the equation. If it’s successful, the Indiana Public Employees’ Retirement Fund and the Indiana State Teachers’ Retirement Fund will save Hoosiers untold millions of dollars and help launch a host of new high-tech companies. If it’s not, taxpayers will one day have to foot the bill. Indiana State Budget…
It’s easy to understand why investors are grumbling about Emmis Communications Corp. CEO Jeff Smulyan. The company’s stock has tumbled in recent years, and some of the ways Smulyan has been choosing to use the company’s capital look misguided. Last year, for instance, Wall Street booed when Emmis helped back Smulyan’s ultimately unsuccessful bid to buy the Washington Nationals baseball team. And, with the benefit of hindsight, the company in 2005 woefully overpaid when it spent $395 million to buy…
Elevating Jim Cornelius from interim to permanent CEO of Bristol-Myers Squibb Co. makes the drug giant more expensive for another company to buy, an analyst told Bloomberg. Michael Krensavage of Raymond James & Associates said this morning’s announcement won’t stop speculation that the New York company could be a takeover target. But Cornelius now is […]
Drug giant Bristol-Myers Squibb Co. has elevated former Guidant Corp. chairman and CEO Jim Cornelius to permanent CEO. The 63-year-old Zionsville businessman had served as interim CEO of the New York company the past eight months. He has been a Bristol-Myers director since January 2005. Bristol-Myers fired CEO Peter Dolan in September after the company […]
Eli Lilly and Co. said today the Food and Drug Administration has given it the green light to market Lilly’s first product for dogs, an antidepressant called Reconcile. The drug is the first selective serotonin reuptake inhibitor class of antidepressants approved for canine separation anxiety. The Indianapolis drugmaker says as many as 10.7 million dogs […]
Businesses, including Indianapolis-based Eli Lilly and Co., have poured $1.7 million into coffers of chairmen of U.S. House of Representative committees since the start of the year. That’s nearly twice as much as corporations gave when Republicans controlled the House during the same stretch of 2005, according to Bloomberg. Interests including pharmaceutical makers, like Lilly, […]
Justin Williams and Meredith Barrett grew up on the south side, but that’s not where they’ll live after getting married in September. They’re looking for an apartment downtown. It’s the only neighborhood they’re considering. “I love being right in the middle of everything,” said Williams, 25, a server at P.F. Chang’s China Bistro in Circle Centre. Barrett, a 22-year-old nurse at Wishard Hospital, said she “just likes to be able to walk everywhere.” The couple is part of a growing…
Lilly Endowment Inc. said today that it has begun the processing of diversifying its assets by putting $100 million into index funds managed by Vanguard. The huge private foundation announced last July it would begin diversifying away from Eli Lilly and Co. shares. A swoon in Lilly shares has halved the value of the endowment […]
Eli Lilly and Co. today boosted profit forecasts for the year while reporting that first-quarter profit fell nearly 40 percent. Officials for the Indianapolis drugmaker said they were encouraged by strong trends in certain parts of the company’s business. Excluding one-time costs, such as the recent purchase of Icos Corp., they raised full-year profit guidance […]
Indianapolis drugmaker Eli Lilly and Co. saw first-quarter profit fall nearly 40 percent from a year earlier, to $508.7 million, due to its $2.3 billion acquisition of Bothell, Wash.-based Icos Corp. Lilly developed the erectile dysfunction drug Cialis in a joint venture with Icos. Without the Icos expense, Lilly profit jumped 9 percent, to […]
This isn’t just a feel-good story. It’s a feel-great story. It’s all about a young guy, full of ambition, yearning to grow, thirsting for knowledge, deciding to take a chance. Rolling the dice on a dream. Pursuing his passion. There he was seven years ago, fresh out of DePauw University, working in a promising marketing job for our local pharmaceutical giant, Eli Lilly and Co. He was making some nice change. If he wasn’t was just around the corner. So…
