BrightPoint to be acquired for $840M by California firm
Indianapolis-based BrightPoint Inc. has agreed to be acquired by California-based Ingram Micro Inc. for about $840 million, the two companies said early Monday morning.
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Bristol-Myers to buy former Lilly partner Amylin for $5.3B
Bristol-Myers Squibb Co. has agreed to pay $5.3 billion to acquire former Eli Lilly and Co. partner Amylin Pharmaceuticals Inc., a maker of diabetes therapies. The deal is valued at about $7 billion, which includes Amylin’s debt and a payment to Eli Lilly and Co. of about $1.7 billion.
Company news
Covance Inc. is seeking state and local tax incentives as part of a $150 million expansion that would create 465 jobs at its Greenfield operations, nearly doubling the number of employees there. The proposed expansion would occur over the next four years and include the construction of a new laboratory, the renovation of existing buildings, and the hiring of administrative and laboratory personnel, according to the Daily Reporter in Greenfield. Princeton, N.J.-based Covance, a pharmaceutical research company, acquired Greenfield Labs from Eli Lilly and Co. in October 2008 for $50 million and a 10-year agreement from Lilly to use Covance’s services. At that time, 264 Lilly employees shifted to Covance. The company now employs 565 workers at the site, according to the newspaper. The Hancock County Council is set to hear Covance’s request for incentives July 11. Documents filed with the county show the 465 jobs would add $29 million in salaries with annual pay averaging more than $62,000 per employee, the Daily Reporter said. The company uses the Greenfield Laboratories to conduct early-stage tests of experimental drug molecules, readying them for tests in humans.
Officials from Indiana University Health Arnett broke ground on a facility in West Lafayette last week, according to the Journal and Courier of Lafayette. The new location, housed in a former Kmart store, will add outpatient imaging and expanded laboratory services to IU Health’s existing services in West Lafayette. The $8 million facility also will include an urgent care center with extended hours of operation. Indianapolis-based IU Health operates a full-scale hospital in Lafayette.
Dr. Yang Sun, an assistant professor of ophthalmology at the Glick Eye Institute, received a five-year, $1 million grant from the National Eye Institute to study congenital glaucoma with the hope of discovering new treatments for common forms of glaucoma. “Glaucoma is a leading cause of irreversible blindness in the world, yet the mechanisms of glaucoma development remain poorly understood, and treatments are limited,” Sun said. “I’m hoping to understand the mechanism of inherited congenital glaucoma, in the hopes that this will provide insight and potentially lead to novel treatments for commonly seen forms of glaucoma.”
Q&A
The U.S. Supreme Court’s ruling to uphold the Patient Protection & Affordable Care Act cleared a big cloud of uncertainty for employers, but with just 18 months before the most significant provisions of the law kick in, many questions remain. Three benefits consultants from Indianapolis-based Gregory & Appel Insurance—Bob Miller, Mike Miles and Karl Ahlrichs—sat down to discuss what the future looks like for employer health benefits.
Abound failure raises questions anew about Obama policies
The failure of a second solar manufacturer that received loan guarantees from the U.S. Energy Department adds to pressure on President Barack Obama to justify incentives for the clean-energy industry that’s being undercut by Chinese competition.
Lawsuit: Smulyan angling for Emmis buyout
Jeff Smulyan has been considering a new plan to buy out other Emmis Communications Corp. shareholders—a deal that could clear the way for him to finally take the Indianapolis media company private. But Emmis’ founder and CEO insists he has no plans to do so.
Co-working spaces multiply, giving independent workers options
Co-working sites—shared office spaces designed to give entrepreneurs, free-lancers and consultants the tools they need to get the job done as well as the chance to interact with other professionals, sans cubicle—are gaining popularity nationally and, finally, in Indianapolis.
BENNER: The basketball legend leaves us, as always, wanting more
Just as he did when his aching back cut his playing career short, just as he did when he left coaching, Larry Bird is abruptly walking away.
State scrubs contractor-financing plan for U.S. 31
INDOT still plans to complete project three years sooner with traditional financing.
Abound Solar set to close doors, file for bankruptcy
Abound Solar Inc., a Colorado-based solar manufacturer that once hoped to hire 1,200 people in Indiana by the end of 2013, will close its doors and file for bankruptcy.
What’s New: MyBestFriendsHair
Meet Janell Shaffer and Danielle McDowell, who started consumer-review service MyBestFriendsHair.com to help folks like them looking for the right hair stylist.
“Star Spangled Symphony”
July 2-4
Conner Prairie
I won’t bother telling you again that the 1812 Overture historically has nothing to do with Independence Day. Instead, I’ll just warn you again to plan for construction issues along Allisonville Road and to get to Conner Prairie in plenty of time to select a spot, set up your picnic, and enjoy the annual holiday concert by the Indianapolis Symphony Orchestra, led by Alfred Savia. Baritone (and IU grad) Daniel Narducci, who recently sang the Captain Hook role for a new recording of Leonard Bernstein’s “Peter Pan,” is guest vocalist.
Not feeling patriotic this week? Then cross the musical pond (while still at Conner Prairie) June 29-30 for The Music of Queen. Details on both concerts here.
Janitors’ union recruits council support on contract talks
The first janitors’ union contract in the city will expire soon, and union organizers are looking to the Indianapolis City-County Council to give them a boost in the negotiations.
Daniels expected to find new cash for Purdue as president
Colleagues of Gov. Mitch Daniels say Hoosiers should expect him to bring a familiar approach to his upcoming role at Purdue University: Do more with less, reward performance, find creative ways to tap new pools of money, and use warm folksy charm.
Indianapolis Opera stays afloat as peer companies call it quits
Next season will start later and feature a money-saving collaboration with Indiana University.
Mind Trust awards $1M to two charters to expand school models
The Indianapolis-based education reform group The Mind Trust will announce June 25 that it is awarding $1 million apiece to Indianapolis-based Christel House Academy and Boston-based Phalen Leadership Academies to launch new charter schools in Indianapolis.
IU report questions Mind Trust plan for IPS
Six months after the Mind Trust released its plan to reform Indianapolis Public Schools, researchers at Indiana University now say the plan rests on experiments in other cities that led to greater inequity among students and did not produce dramatic academic gains.
Medical startup plans 71 jobs, seeks incentives
The city of Indianapolis granted preliminary approval for an eight-year tax abatement to Arcamed Inc., which plans to purchase $1.4 million in equipment to design and manufacture titanium and case-tray systems for surgical instruments.