Endocyte shares plunge 60 percent after drug trial is stopped
Endocyte Inc.’s stock fell more than 60 percent in early trading Friday after the drug it’s developing with Merck & Co.’s backing failed to help patients in a trial for ovarian cancer.
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St. Vincent and Community to dissolve partnership
The Accountable Care Consortium was envisioned as a vehicle through which the hospitals would eventually funnel all of their roughly $2.5 billion in annual contracts with health insurers and employers.
KENNEDY: The tax-cutters are too clever by half
Tax cuts have consequences as predictable as the sunrise. The politicians who cut taxes boast about their concern for taxpayers and their superior efficiency; they assure us that our low taxes will lure new business, then they run for higher office or otherwise head for greener pastures where the accuracy of those claims is unlikely to be tested. The politicians who have been left to operate with less money engage in equally predictable behaviors.
Hospitals might limit executives’ pay hikes after run of big increases
Before local hospitals slashed staff and expenses last year, they had been boosting the pay packages of their top executives faster than hospitals around the country. Seven of every 10 senior executives at the major hospital systems in Indianapolis saw their total compensation rise more than 10 percent from 2010 to 2012.
City’s bid team revving up for Super Bowl pitch
Indianapolis officials plan to use a downtown light show and $30 million in pre-raised corporate cash to wow the NFL’s team owners into granting the Circle City the title of Super Bowl host for the second time in six years.
CEOs launch childhood obesity initiative
Jump IN for Healthy Kids has a budget of $1.5 million and hopes to identify and extend successful efforts to improve diet, activity and healthy choices among children and their families.
House ethics panel finds Turner didn’t violate rules
The House Ethics Committee expressed concerns Wednesday that House Speaker Pro Tem Eric Turner’s efforts to kill a proposed nursing home moratorium did not achieve the “highest spirit of transparency” and vowed to tighten those rules.
Flaherty becoming mixed-use master
Developer’s Flaherty & Collins is gaining a reputation developing trendy projects, the latest of which is a 28-story retail and residential tower on the site of the former Market Square Arena.
People
Dr. Alexia Torke, an internist, has been named associate director of the Indiana University Center for Aging Research. Torke is a researcher at the Indianapolis-based Regenstrief Institute and a professor at the IU School of Medicine. The Center for Aging Research works with scientists, clinicians, patients and others to develop and test innovative strategies to improve the quality of health care and self-care of older adults. Torke graduated from Carleton College and received a medical degree from the IU School of Medicine.
Mark Anderson has been named director of Franciscan Physician Network’s Joint Replacement Surgeons of Indiana and the Center for Hip and Knee Surgery at Franciscan St. Francis Health. Anderson, who has worked at Franciscan for 16 years, graduated from Indiana University’s physical therapy program in 1997 and earned an MBA from Indiana Wesleyan University in 2009.
Possible GOP presidential candidates play up gun credentials
U.S. Sen. Marco Rubio of Florida, former Pennsylvania U.S. Sen. Rick Santorum, Indiana Gov. Mike Pence and Louisiana Gov. Bobby Jindal addressed the NRA's annual leadership forum, a kind of political pep rally the organization considers one of its premier events.
Life Sciences Power Breakfast transcript
Indianapolis Business Journal gathered leaders in Indiana’s life sciences industry for a Power Breakfast panel discussion April 24. Among other topics, the panelists discussed whether Obamacare helps or hurts companies in the industry, the biggest barrier to life sciences startups, and how rising activity among angel investors has changed the life sciences landscape.
Think Obamacare will help hospitals? Think again
The typical hospital around the country will see its profits wiped out entirely by the changes coming from health reform and the aging of the population. But in Indianapolis, the hits will be cushioned by this region's fatter commercial reimbursements.
Battery maker EnerDel loses CEO, names interim
EnerDel Inc. CEO David Roberts has resigned and chief operating officer Michael Canada will replace him on an interim basis, the Indianapolis lithium-ion battery manufacturer announced Thursday afternoon.
Herb Simon: $160M Pacer deal helps heirs
Herb Simon, 79, says the $160 million deal the city struck with the Indiana Pacers this month for operating costs and stadium improvements is an outgrowth of negotiations that began way back in 2007.
ITT student-loan bet stings Lilly’s credit union
A default-prone portfolio of loans to ITT Educational Services students has come back to haunt Eli Lilly Federal Credit Union, a full-service but otherwise conservative institution.
Hospitals rethinking a la carte pricing
Indianapolis hospitals have begun to offer joint replacement surgeries to employers and insurers using “bundled prices.” That means, instead of billing piecemeal for each individual service and supply, the hospitals wrap everything needed from just before to just after surgery into a package deal.
Kim: Analysis of 2012 NFL draft offers investment lessons
Slow and steady wins the race” is a value-investing mind-set that’s also applicable to building an NFL roster. Choose overlooked or undervalued prospects, not the Heisman Trophy winner or Twitter.
Milhaus planning condos in Chatham Arch neighborhood
Milhaus Development, whose downtown apartment projects include Artistry and Circa, plans to build between 60 and 90 condos in a roughly one-block area in the Chatham Arch neighborhood that’s now home to a church and warehouse.
Citizens gets state OK for steep wastewater rate hike
State regulators on Wednesday approved a rate hike that will increase monthly wastewater bills by about 26 percent, or close to $14 on average, for Citizens Energy Group customers.
MORTON: Indy’s road to Oz will end soon for sports team owners
The seemingly endless yellow brick road to Oz, or what residents of central Indiana have come to accept as privately owned professional sports franchises seeking financial sustenance to build and upgrade, is nearing a tipping point of practical expenditures.