Eli Lilly and Co. has agreed to spend $64 million to acquire SGX Pharmaceuticals Inc., a San Diego-based biotech firm developing cancer drugs. Indianapolis-based Lilly and SGX have been collaborating since 2003 on development of cancer drugs. SGX provided X-ray crystallography technology to determine the structure of cancer targets Lilly was trying to hit with […]
By J.K. Wall Eli Lilly and Co. is contributing to a $39 million pot of money to fund a startup that will develop tools to speed discovery and development of new drugs. Lilly has joined with rivals Pfizer Inc. and Merck & Co. Inc, as well as Boston venture capital firm PureTech Ventures LLC, to […]
A dearth of name players, slumping attendance and an outdated venue have some in the local tennis community wondering if the
Indianapolis Tennis Championships–formerly known as the RCA Championships–needs some serious re-stringing. Attendance at
the nine-day event, which ran July 12-20 this year, was on pace through July 16 to be at a 20-year low.
But attendance is far from the tournament’s only challenge.
Art Patterson, who launched Flagship Enterprise Center in Anderson and built the small-business incubator and accelerator into a three-building operation, has been named CEO at Elona Biotechnologies Inc. in Greenwood. Patterson left Flagship early this year after completing a four-year startup phase. Expertise to help small businesses had been established through host Anderson University as […]
Second-quarter sales and profits rose by double digits for Eli Lilly and Co., but overhead increased just as fast as the company worked feverishly to find new revenue sources before key patents expire. Investors yawned today after the Indianapolis-based drugmaker met Wall Street expectations of 99 cents per share. Lilly shares inched up 68 cents, […]
As fans of the late Milton Friedman gather at the Conrad Hotel tomorrow night to celebrate the libertarian
economist, theyâ??ll have plenty to crow about.
Ironically, though, Friedmanâ??s ideas about turning education over to market forces have failed to gain much…
When Dr. Zao C. Xu moved to Indianapolis in 1986, there were only a handful of other Chinese immigrants working at the Indiana University School of Medicine. Now, there are more than 20. Xu’s wife works at Eli Lilly and Co. When she started there in the mid-1980s, she was one of about 20 Chinese immigrant employees at the pharmaceutical giant. Today, there are more than 500. “Many people who came from China started working in the East or West…
Three Ball State University economists have gone public in recent weeks with their distaste for corporate social responsibility as it’s practiced these days. Philip Coelho and James McClure argued in a letter to the editor in The Herald-Times of Bloomington that…
Eli Lilly and Co. has sold its Greenfield Laboratories in Hancock County to Covance Inc. for $50 million. Covance also signed a 10-year agreement with Lilly under which Princeton, N.J.-based Covance will take responsibility for Lilly toxicology testing now conducted at the historic facility. Approximately 260 Lilly employees at the facility will be offered jobs […]
Eli Lilly and Co. will shed about 440 jobs after the sale of its Greenfield Laboratories and outsourcing other work. But the Indianapolis-based drugmaker hopes Indiana sees no net loss of jobs from its restructuring moves. The announcements this morning are part of a quickening effort by Lilly to reduce overhead costs before it loses […]
Eli Lilly and Co.’s unorthodox efforts to develop new treatments for Alzheimer’s disease–if successful–could usher in
a new approach to drug development. The Indianapolis-based pharmaceutical company announced that a New York
hedge fund, TPG-Axon Capital, will invest up to $325 million to help cover the exorbitant development costs
of two experimental compounds to treat Alzheimer’s disease.
The future of medicine is personal. That’s been the mantra of the pharmaceutical industry for the last decade-since the human genome was sequenced for the first time. But before Eli Lilly and Co. and its peers can develop and sell drugs that treat only patients with a specific gene, it needs sophisticated devices to test if a patient has that gene. And those devices need sophisticated software to make them run. That’s where The RND Group Inc. comes in. The…
Companies are quietly planning expansion projects despite woes that continue to unfold in housing, finance and other hard-hit industries, Indianapolis-area economic development officials say. The officials’ experiences differ, but a couple of them contacted in a spot check say requests for information from expansion-minded companies are becoming more common, and another says activity hasn’t fallen […]
John E. Huguenard is on a roll. He’s got $1 billion in active industrial listings and is on track to top his $700 million deal volume from last year. The low-key super-broker for the local office of commercial real estate powerhouse Colliers Turley Martin Tucker has closed 17 deals worth a total of $250 million already this year. And that’s no fluke: Huguenard, 45, has sold or leased more than 100 million square feet of industrial property in more than…
Some heavy hitters in the local not-forprofit consulting world have formed Achieve LLC, a company that will use the Internet to make high-end advice available to small and midsize charities. Its goal is to give organizations experiencing growing pains access to expert advice they usually can’t afford. “The question was, how do you fill that void for smaller not-for-profits?” said coowner and Vice President Dave Sternberg, former associate director of the Fundraising School at Indiana University’s Center on Philanthropy and…
Some heavy hitters in the local not-forprofit consulting world have formed Achieve LLC, a company that will use the Internet to make high-end advice available to small and midsize charities. Its goal is to give organizations experiencing growing pains access to expert advice they usually can’t afford. “The question was, how do you fill that void for smaller not-for-profits?” said coowner and Vice President Dave Sternberg, former associate director of the Fundraising School at Indiana University’s Center on Philanthropy and…
John E. Huguenard is on a roll. He’s got $1 billion in active industrial listings and is on track to top his $700 million deal volume from last year. The low-key super-broker for the local office of commercial real estate powerhouse Colliers Turley Martin Tucker has closed 17 deals worth a total of $250 million already this year. And that’s no fluke: Huguenard, 45, has sold or leased more than 100 million square feet of industrial property in more than…
Lafayette-area leaders anticipate meeting soon with Eli Lilly and Co. officials to try to play a role in the Indianapolis-based drug giant’s plans for the 54-year-old Tippecanoe Laboratories, according to The Journal & Courier of Lafayette. Lilly said July 30 that an announcement on the future of the plant would be forthcoming within a year. […]
Elanco, a division of Eli Lilly and Co., will spend $300 million and an undisclosed “contingent consideration” to buy all rights to a popular dairy cow hormone and its sales and manufacturing operations from St. Louis-based Monsanto Co. Elanco has been selling the supplement, called Posilac, outside the United States for a decade. Now Elanco […]
The European Commission has approved Cymbalta, the anxiety drug developed by Eli Lilly and Co. The thumbs-up came from the commission’s European Medicine Agency Committee for Medicinal Products for Human Use, the Indianapolis company said today. The approval opens markets in 27 European Union nations as well as Iceland, Liechtenstein and Norway. Lilly estimates nine […]
