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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 […]

A new restaurant slated to open April 30 within the Conrad Indianapolis hotel will honor legendary Hoosiers on its mahogany-paneled walls. The Capital Grille has commissioned portraits of eight prominent Indiana residents: Indianapolis Motor Speedway savior Anton “Tony” Hulman Jr.; Eli Lilly, the former Eli Lilly and Co. president and grandson of the company’s founder; […]

Eli Lilly and Co.’s optional severance package has been accepted by 200 of the 1,000 workers at its Tippecanoe Laboratories in Lafayette, according to The Journal & Courier of Lafayette. The Indianapolis drugmaker said in January it would offer the buyouts to 250 at the Lafayette site because it had too much capacity in biomolecules. […]

Eli Lilly and Co. was among 40 companies cited in a study by Clarity! Communications of Canada Inc. for describing executive pay in prose that’s all but indecipherable to the common person. As a result, the companies in the study violated new securities rules that prevent companies from using jargon to report how top executives […]

A Parkinson’s disease medication originally developed and sold by Eli Lilly and Co. has been voluntarily pulled from the U.S. market after the Food and Drug Administration reviewed new information that associates it with heart problems. Pergolide, which Lilly sold under the Permax brand, has been licensed to the Aliso Viejo, Calif., drugmaker Valeant Pharmaceuticals […]

Eli Lilly and Co. weighed in against a proposed constitutional amendment to ban same-sex marriage in Indiana in a letter sent to Speaker of the House B. Patrick Bauer, D-South Bend. Lilly joined three other major Indiana employers that have voiced opposition to the amendment. Representatives of Cummins Inc. and WellPoint Inc. testified before a […]

California Public Employees’ Retirement System has sent letters to Eli Lilly and Co.’s 1,600 largest shareholders seeking support for a proxy resolution that would require only a majority vote by shareholders to amend its bylaws, Bloomberg reports. The Indianapolis drugmaker requires a supermajority of shareholders, which Calpers says restricts change and ultimately retards stock prices. […]

The European Medicines Agency has granted Eli Lilly and Co.’s enzastaurin drug “orphan” status—a decade of marketing exclusivity for drugs aimed at serious, rare illnesses. As a result, the Indianapolis drugmaker is ramping up a late-stage clinical trial of the oral agent, which is designed to limit relapses in patients with a type of non-Hodgkin’s […]