The median senior executive collected $923,705 in salary, stock or stock options, incentive pay and perks in 2013, IBJ found in a review of proxy statements at 64 companies.The median compensation rose 20 percent from 2012 and doubled since 2006.
RANAC Corp., a small firm in Indianapolis, cut its spending on health benefits 25 percent after dropping its group health plan. Could it be a sign of things to come?
Civic and business leader Joseph Slash, 70, plans to move on soon, but is willing to wait for the search committee “to get it right.”
Takeda Pharmaceutical Co. didn’t hide the alleged bladder-cancer risks of its diabetes medicine Actos, a lawyer for the company told a jury. Actos was marketed for Takeda in the United States by Eli Lilly and Co. from July 1999 to March 2006.
Despite having what several NFL executives said was the strongest proposal, Indianapolis lost out on hosting the 2018 championship game to a city with a new, $975 million stadium in the wings.
The Carmel-based question-and-answer service cut its 18-month-old social media division, Social Reactor, after a rate algorithm change at Google slashed the division’s revenue from advertising.
Gov. Pence's HIP 2.0 plan is nothing less than an attempt to roll back liberal policy on low-income health benefits as far as currently possible–and to get other states to follow suit. It might even be an opening bid for president.
Minnesota-based UnitedHealth Group Inc. will make the prices it pays for health care services available to consumers on the Internet, according to Bloomberg News. The effort, organized by the Health Care Cost Institute, will include two other insurers, Louisville-based Humana Inc. and Hartford, Conn.-based Aetna Inc. They will make public a “reference price” for health services in local communities, based on aggregated data from insurers. Customers of each insurer will get more precise information about prices, including how much they’ll have to pay out of pocket. Indianapolis-based WellPoint Inc. has been working recently to make prices available to its customers via a partnership with Castlight Health, a San Francisco-based software firm.
Eli Lilly and Co. lost a United Kingdom lawsuit over its Alimta lung cancer treatment but plans to appeal, according to Bloomberg News. A judge ruled May 15 that a generic version of Alimta, planned by Actavis Plc, doesn’t breach European patents. Indianapolis-based Lilly, which had first quarter sales of $632 million from Alimta this year, has fought lawsuits across the globe to protect patents related to the product. In March, a U.S. District Court upheld a patent regarding vitamin dosage in a dispute with Teva Pharmaceutical Industries Ltd. Some European patents for Alimta expire in December 2015, and Actavis is seeking regulatory approval for a rival treatment, according to a written decision by Judge Arnold handed down in London. Lilly said in its statement that it had won an Alimta patent case in Germany earlier this year. The company said it expected European patents related to vitamin dosage to remain in force until 2021.
Purdue University trustees authorized the completion of a $54 million flex lab, to be built south of the Birck Nanotechnology Center in Purdue’s Discovery Park. The 75,000-square-foot lab will be financed with up to $38 million in proceeds from bonds, up to $13.5 million in gift funds and up to $2.5 million in university central reserve funds. Also, the trustees OK’d a $14 million, 32,000-square-foot expansion of Jischke Hall to enhance the university's biomedical engineering research capabilities. Purdue will also spend $10 million to construct a 25,000-square-foot center for seed processing and analysis, and will spend $8.2 million to expand its Zucrow Laboratories to add 14,600 square feet of space.
HR Dimensions LLC has acquired by Chicago-based WIA Group to form HRD Advisory Group LLC. The merger gives HRD a practice that covers all types of employer insurance, including health benefits, as well as risk management consulting services. The combined firms will continue to operate out of HR Dimension’s offices in Carmel.
Pfizer’s proposed deal would have been the richest acquisition ever among drugmakers and the third-biggest deal in any industry, according to figures from research firm Dealogic.
Indianapolis is betting that an ambitious project to study safety issues at all levels of football, plus expanding and snazzing up the Super Bowl Village, will help win the 2018 Super Bowl. And Jeff Saturday will help deliver the message.
Income inequality isn’t a non-issue, but the rhetoric surrounding it discourages meaningful discourse.
The media has fragmented from relatively few outlets to a plethora of voices, particularly on the Internet. How will increasingly customized appeals to voters exacerbate the ability of elected officials to compromise on legislation? Have you ever read an article online that was shared by a friend or relative, completely agreed with it, then reshared […]
The media has fragmented from relatively few outlets to a plethora of voices, particularly on the Internet. How will increasingly customized appeals to voters exacerbate the ability of elected officials to compromise on legislation? Can’t we all just get along? Unlikely. Gridlock and political dysfunction in Congress is at an all-time high. It hasn’t always […]
As the end of the school year quickly approaches, it seems prudent to let you, the Hoosier taxpayer, know exactly what your hard-earned dollars are going to support.
It always was a little awkward entering a polling place during the primary and declaring to the poll judges which ballot I wanted. As a news reporter, I didn’t like having to declare my affinity for one party or the other.
Now that Indianapolis-area hospitals employ large numbers of physicians, a new study suggests the integrated health systems will be able to charge higher prices to private health insurers.
A judge in Brazil fined Eli Lilly and Co. and a unit of Italy's ACS Dobfar an estimated $450 million on May 9 for allegedly exposing workers at a Brazilian plant to toxic substances. According to Reuters, the ruling followed a 2008 lawsuit that accused Indianapolis-based Lilly of incinerating toxic waste from third parties, releasing heavy metals and gases that poisoned some of the 500 workers. Lilly made agricultural chemicals at the plant north of Sao Paulo from 1977 to 2003. Lilly will appeal the ruling, General Counsel Michael Harrington said in a statement. The alleged contaminants–benzene and heavy metals–were never used in manufacturing operations, Harrington said, and the court’s ruling is based on inaccurate scientific claims as well as mathematical errors.
Eli Lilly and Co. announced Monday that its once-a-day insulin injection did a better job in clinical trials controlling diabetic patients’ blood sugar than Lantus, the dominant diabetes medicine sold by France-based Sanofi. But Lilly’s basal insulin also raised safety concerns, according to Bloomberg News. The clinical studies showed increases in liver enzymes, a potential sign of toxicity, and lower rates of good, or HDL, cholesterol. Those issues could hamper Lilly’s sales efforts, said ISI Group LLC analyst Mark Schoenebaum. U.S. regulators may also require another trial before granting approval, he said. Lilly said it plans to file the drug for U.S. regulatory approval in the first quarter. “We are reasonably bearish on this molecule due to potential toxicity concerns,” Schoenebaum wrote in an email to Bloomberg. Annual sales of the drug may be $600 million by 2020 if it is approved, he said. Lantus generated $7.6 billion for Sanofi last year. Lilly’s drug “is the first basal insulin to demonstrate consistently superior HbA1c reduction versus insulin glargine in Phase III clinical trials,” Enrique Conterno, president of Lilly’s diabetes business, said in a statement. In three trials including 3,373 patients, Lilly’s insulin was superior to Lantus in controlling blood sugar. It was tested in patients who’d never used an insulin before, those switching over from another insulin, and in combination with a shorter-acting insulin meant to control blood sugar after meals.
Indiana University biologists will receive more than $6.2 million from the U.S. Army Research Office to study how bacteria evolve in response to their environments. The five-year grant will fund research in the labs of professors Michael Lynch, Patricia Foster, Jake McKinley and Jay Lennon. They will sequence entire genomes of the bacteria that replicate under changes in conditions. The researchers hope to pinpoint—and possibly predict—molecular mechanisms of evolutionary change.
The Indianapolis-based American Legion, the nation's largest veterans service group, called for the resignations of U.S. Veterans Affairs Secretary Eric Shinseki and two of his top aides amid an investigation into allegations of corruption and unnecessary deaths at the veterans' hospital in Phoenix. "The existing leadership has exhibited a pattern of bureaucratic incompetence and failed leadership that has been amplified in recent weeks," National Commander Daniel Dellinger said in a news conference at legion headquarters. According to the Associated Press, the Department of Veterans Affairs issued a statement rejecting the call for the resignations. The Phoenix hospital has been under fire over allegations that as many as 40 patients might have died because of delays in care and that the hospital kept a secret list of patients waiting for appointments, to hide the treatment delays. Shinseki announced May 8 that three officials there have been placed on leave. Dellinger also cited VA's acknowledgement that 23 have died as a result of delayed care in recent years and the findings of a VA Office of Medical Inspector investigation that clerks at the Fort Collins, Colo., clinic were instructed last year how to falsify appointment records.
Algaeon Inc. plans to use $2.75 million in new funding to begin commercial production of its algae-based nutritional supplements. The Indianapolis-based biotech company will move into an acre of greenhouse space owned by Heartland Growers at 2621 E. 186th St. in Westfield. The 18-employee firm plans to install more than 800 of its bioreactors that produce algae. The company in June will begin selling antioxidant supplement Astaxanthin. Its immune system booster Beta glucan will hit the market later this year. Algaeon markets Astaxanthin as a prevention for eye, heart and brain degeneration as well as an anti-inflammatory for joints. Beta glucan replaces antibiotics in animal feed. Last year, the company signed a “multi-year, multimillion-dollar” contract with Florida-based supplement manufacturer Valensa International to produce Astaxanthin. Three prior rounds of funding raised a total of $2 million for Algaeon.
Attempts to build the sector are making headway, but Indiana still lags leading states.
Bayer AG’s $14.2 billion acquisition of Merck & Co. is the latest in a series of big pharma deals and it exposes a deepening split in the way drugmakers approach their portfolios.
