First decade of century marked by buyouts and bubbles
The decade witnessed a massive terrorist attack, two wars, and a building-and-buyout boom fueled by easy credit.
The decade witnessed a massive terrorist attack, two wars, and a building-and-buyout boom fueled by easy credit.
Congress is on the cusp of transforming health insurance—if it can pass a health reform bill that was losing popularity
late in the year.
Another year of rapid change at Eli Lilly and Co. did little to move the company out from under the cloud cast by its best-selling
drug, Zyprexa.
A look back at some of the top business news stories from 2009.
Three of Kurt Vonnegut’s children are working with local fans of the famed author to open a memorial library
in Indianapolis.
Eli Lilly and Co. has bought the rights to co-market a new cholesterol-fighting drug in the U.S., giving it a third heart drug for sales personnel
to push.
Indianapolis health care heavyweights are among those spending $635 million, employing 166 former aides to key congressional
leaders and committees in health reform process.
A major downturn in commercial real estate was inevitable, but the depths have surprised even seasoned industry veterans.
Jim Pearson knows a thing or two about raising money from venture capitalists. And he has some advice for BioCrossroads:
Teach entrepreneurs the value of money.
Over the course of her life, the last surviving great-grandchild of pharmaceutical magnate Eli Lilly gave away much of her
inheritance.
Lilly, 94, who died Wednesday, gave away hundreds of millions of dollars of her fortune during her lifetime.
The agency said the meeting was canceled “to allow time for the FDA to review new information” about a proposed new use for
the drug.
Whew! A contract dispute that almost kicked seven central Indiana hospitals out of the network of Anthem Blue Cross and Blue Shield was averted at the last minute last week. On Dec. 30, Anthem released a “News Flash” saying that its customers no longer would receive negotiated discounts at Hancock Regional, Hendricks Regional, Henry County, Morgan, Riverview, Westview and Witham hospitals, beginning the next day. The hospitals are part of Indianapolis-based Suburban Health Organization. But by 4 p.m. the same day, the two sides came to terms.
What Dow AgroSciences has done with corn, it’s now trying to do with cotton. The Indianapolis-based company has licensed genetically engineered cotton traits from Switzerland-based Syngenta AG. Dow Agro will combine Syngenta’s traits with cotton traits it developed. In 2012, Dow Agro expects to launch cotton seeds stacked with the traits to better protect against cotton pests. Dow Agro, a subsidiary of Michigan-based Dow Chemical Co., developed corn seed with eight genetically engineered traits following a licensing deal with St. Louis-based Monsanto Co. Dow Agro and Syngenta did not disclose financial terms of their deal.
St. Francis Hospital and Health Centers has sued three OrthoIndy physicians over the group’s new $20 million outpatient surgery center scheduled to open in Greenwood next year. The complaint alleges the new facility breaches an earlier partnership between the two health care providers. According to St. Francis’ civil complaint, filed Dec. 18 in Hamilton County Superior Court, St. Francis and an OrthoIndy affiliate agreed in 2001 to become equal partners in another facility—the Indiana Orthopaedic Surgery Center at 5255 E. Stop 11 Road on the St. Francis campus on the south side. But in December 2008, OrthoIndy announced it had purchased property four miles from the Indiana Orthopaedic Surgery Center and planned to construct a competing facility there. An attorney for the OrthoIndy physicians said St. Francis’ lawsuit has no merit.
When production at Tippecanoe Laboratories in Lafayette started today at 9:30 a.m., it officially launched a new era for the drugmaking plant. Germany-based Evonik Industries AG is now operating the plant after acquiring it from Indianapolis-based Eli Lilly and Co. Lilly sold the plant as part of $1 billion in operating cuts it wants to achieve by the end of 2011. Lilly signed a nine-year contract for Evonik to supply it with the materials made at the Lafayette plant. Gov. Mitch Daniels attended the start of production this morning.
Community Health Network’s philanthropic foundation received $1 million in cash from John W. “Jack” Heiney, a retired president and CEO of Evansville-based Indiana Gas Co. Heiney’s gift, made in honor of his late wife Betty, will be used to fund outreach, wellness and prevention programs, as well as improve Community’s facilities and employees.
The board of the museum’s private foundation is expected to confirm Thomas A. King’s appointment Thursday afternoon
Lilly’s death on Dec. 30 at age 94 will trigger the release of hundreds of millions of dollars from her
estate, with perhaps as much as $200 million flowing to the fledgling Ruth Lilly Charitable Foundation.
New interim CEO, the former president of the Eli Lilly and Co. Foundation, hopes to pave way for stability at the institution,
which has seen five CEOs in the past decade.
The management change comes as the Indianapolis company’s diabetes market share has been sliding. Roche says successor will
be named “shortly.”
The letter to Indianapolis-based Lilly cites a print advertisement for the antidepressant Cymbalta that did not adequately
display information about the drug’s side effects.