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Lilly’s soaring stock, Fishers’ innovation park among top 10 life sciences stories of 2023

December 27, 2023 | John Russell

It was a busy year for the Indiana life sciences community, with a flurry of billion-dollar deals, major announcements, and a few setbacks. Here we present the top 10 stories of 2023—the good, the bad and the ugly—about an industry that is often hailed as a key driver of Indiana’s economy.

RayzeBio Inc. to be acquired by drugmaker Bristol Myers Squibb for $4.1B

December 26, 2023 | John Russell

RayzeBio is building a large factory on the northwest side of Indianapolis to make radioisotopes for cancer treatment.

Mark Williams: Let’s continue important conversation about creativity

December 22, 2023 | Mark Williams

We’re beginning a conversation that doesn’t assume that economics and creativity live in separate worlds. On the contrary, any successful businessperson will tell you that creativity is essential to success.

Lilly signs another AI deal, this one for obesity

December 22, 2023 | John Russell

Fauna Bio, based in the San Francisco area, said Thursday it will give Lilly access to its AI platform, called Convergence, to support preclinical drug discovery efforts in obesity.

Point Biopharma shares sink 11% on study results; Lilly acquisition still up in air

December 18, 2023 | John Russell

Results of a clinical trial for Point Biopharma’s lead compound fell short of analysts’ expectations, and that development is likely to pressure its investors to decide whether to agree to sell the company to Eli Lilly and Co. for $1.4 billion.

Point Biopharma headquarters (Photo courtesy of the company)

Mark Montieth: Remembering the basketball prowess and sunny kindness of George McGinnis

December 14, 2023 | Mark Montieth

It’s a cliché to say someone who just passed away, as basketball legend George McGinnis did early Thursday, was a good person. But he went beyond that. He was nice to a fault. So nice, in fact, that people took advantage of him.

Lilly stock slips after study finds patients who stop Zepbound regain weight

December 11, 2023 | Bloomberg News

People who stopped taking Eli Lilly and Co.’s blockbuster drug Zepbound after about eight months regained half the weight they’d lost a year later, yet were significantly thinner than when they had started the obesity drug, according to a new study.

Lilly launches obesity drug, but insurers balk over price

December 8, 2023 | John Russell

The new drug, called Zepbound, carries a hefty price of $1,059.87 per month, and insurers and health care plans are balking, questioning its affordability. Many employers and government health programs exclude obesity treatments from their coverage.

2023 CFO of the Year: Mundo Sanchez

December 8, 2023 | Samm Quinn

Mundo Sanchez, CFO of refrigerated-trucking company Renewable Transport Services, said his role as chief financial officer extends far beyond financial reporting.

David Rosenberg: Water should be distributed to benefit all

December 8, 2023 | David Rosenberg

As other states suffer droughts or lack of resources, Indiana won’t.

In race to develop obesity drugs, Roche acquires California biotech for $2.7B

December 4, 2023 | John Russell

The company, Carmot Therapeutics, has numerous drugs under development. Its lead asset is a once-a-week injection that is in mid-stage development for the treatment of obesity.

IEDC sponsoring Bloomberg climate talk at COP28

December 4, 2023 | Peter Blanchard

The Indiana Economic Development Corp. is one of seven sponsors of a two-day event happening against the backdrop of the United Nations Climate Change Conference in Dubai.

CEO: Here’s why Corteva moved its HQ to Indy from Delaware

November 27, 2023 | John Russell

Speaking at Monday’s Economic Club of Indiana, Corteva CEO Chuck Magro said last year’s decision was anything but hasty or haphazard.

High-stakes dispute between Lilly, competitor over migraine drugs winding down

November 27, 2023 | John Russell

The two companies have been battling for years over patents for migraine headache drugs—Emgality for Lilly and Anjovy for Teva. Both drugs are once-monthly injections and were approved 13 days apart in September 2018.

16 Tech gears up in reach for national stage

November 24, 2023 | John Russell

The live-work-play campus has been picked to join a new national network designed to connect researchers, entrepreneurs and investors to accelerate the development of health care products and services and speed up health care innovations.

Proposed pipeline stirs questions about who controls Indiana’s water

November 24, 2023 | Peter Blanchard

Consideration of a pipeline to pump massive amounts of water from Lafayette to the LEAP Innovation and Research District in Lebanon is revealing major gaps in Indiana’s water-rights laws, some stakeholders say.

In face of low investor interest, Lilly again extends $1.4B offer for Point Biopharma

November 17, 2023 | John Russell

The extension comes amid pushback from several investors, including Point’s largest institutional stock holder.

Lilly to build $2.5B factory in Germany for injectable drugs

November 17, 2023 | John Russell

The announcement represents the company’s latest move to meet the soaring demand for its medicines for diabetes and weight loss.

Governor shifts oversight of LEAP water study away from IEDC

November 13, 2023 | Peter Blanchard

The move comes as the Indiana Economic Development Corp. faces questions about its plan to tap the Wabash River aquifer and withdraw as much as 100 million gallons per day for an advanced manufacturing district in central Indiana.

Lilly’s proposed $1.4B acquisition of Point Biopharma gets investor pushback

November 13, 2023 | John Russell

Point has a pipeline of clinical and preclinical-stage compounds in development for the treatment of cancer using radiopharmaceutical isotopes that hold the promise of delivering targeted treatments to cancer patients.

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