Drug prices rise ahead of rebates
Drug prices rose faster last year than they have in a decade—just in time for big rebates the drug industry promised
as part of the health reform law.
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Lilly shareholders reject move to lower takeover threshold
A proposal that would have weakened Eli Lilly and Co.’s defenses against an unwanted takeover failed to pass April 19 at the company’s annual meeting of shareholders. The proposal to remove an 80-percent approval threshold for takeover bids against the wishes of Lilly’s board received approval from shareholders owning 74 percent of Lilly’s shares. But […]
COOK: Restoring buildings revitalizes communities
I got involved in restoration projects more than 30 years ago when a serious cardiac illness sidelined me from my medical-device
business.Medical device startup FlowCo enlists Guidant alums
The upstart developer of a device to help doctors choose the right-sized stent to prop open clog-prone arteries has brought
aboard former Guidant Corp. executives, including Bill McConnell. Their regulatory and marketing expertise could help FlowCo Inc. bring its artery-measurement
product to market as soon as 2011.Architect finds new path as real estate struggles
The 25-year-old Prince/Alexander architecture firm is on the path to being acquired by Dallas-based REES Associates, an employee-owned
firm with 120 architects.Purdue drug maker closing its doors after 5 years
The Purdue Research Foundation says the Chao Center for Industrial Pharmacy and Contract Manufacturing was unable to become
self-sustaining in part because of the recession.Judge rejects Guidant’s defibrillator plea deal
A federal judge has rejected Guidant Corp.'s guilty plea to charges it hid defects in heart defibrillators, after some
doctors and patients complained about the $296 million deal.Chao exit hurts drug development industry
Purdue University’s decision to close the Chao Center in West Lafayette is a setback for Indiana’s effort to grow
a vibrant contract drug manufacturing sector. But it’s just the latest in a series of unexpected changes—not all for
the worse—since Indianapolis-based BioCrossroads launched a contract drug manufacturing initiative in late 2007.Company news
Company news
A federal judge in Minnesota rejected Guidant Corp.'s guilty plea to charges it hid defects in heart
defibrillators, after some doctors and patients complained about the deal, Bloomberg News reported. Guidant is a coronary
products company spun off from Indianapolis-based Eli Lilly and Co. in the 1990s and acquired by Boston Scientific
in 2006. Boston Scientific agreed to plead guilty and pay $296 million to settle the case brought by the U.S. Department of
Justice. But U.S. District Judge Donovan Frank suggested the company should be placed on probation for failing to disclose
defects with its heart devices to regulators. Prosecutors said in court papers that Guidant officials learned as early as
2002 that some of the implantable defibrillators had a tendency to short-circuit and caused users’ deaths. The company
didn’t disclose the defects for more than three years, the government said.The first phase of a $65 million expansion opened Tuesday at Marquette, a retirement facility located south
of St. Vincent Hospital on Township Line Road. The expansion is designed to appeal to more active seniors, and includes a
bistro, performing-arts venue, a putting green and exercise facilities with a full-time trainer. A second phase of the expansion,
to be completed later this summer, will include 48 apartments.The Health Foundation of Greater Indianapolis gave $1 million to Wishard Health Services
to help it purchase software to better coordinate care for pediatric asthma patients. The program provides coaching and educational
materials for children with asthma in coordination with their primary-care providers, including school clinics. The software,
known as RelayHealth Virtual Information Exchange, will electronically deliver patient-education materials to patients in
the pediatric asthma program, with easy-to-understand illustrations and animations. Eventually, Wishard hopes to use the software
to allow patients to schedule appointments, obtain prescription refills and have electronic visits with health care professionals.The Lifeline helicopter medical service is starting to replace the aircraft it uses for emergency flights across much of
Indiana, according to the Associated Press. Indianapolis-based Clarian Health is buying four new helicopters
to replace aging ones. Lifeline program director Shelly Maersch says the new helicopters will have safety enhancements, with
the pilots being able to use night-vision goggles. The new helicopters also will allow for rear loading and not vibrate as
much. The first new helicopter will be stationed at Howard Regional Hospital in Kokomo. Lifeline also has regional bases in
Lafayette, Muncie, Columbus and Terre Haute.Closing of Purdue’s Chao Center is setback for BioCrossroads
The university is hoping to find a private company to take over the 5-year-old facility, which formulated and manufactured
small batches of drugs used in clinical trials.SKARBECK: Diversifying not sure fix for Lilly Endowment woes
Lilly Endowment has been a substantial Lilly stockholder for 73 years, so to focus on the past decade is a mistake.
Lilly sues to block copy of Evista osteoporosis drug
Watson Pharmaceuticals filed for FDA approval to sell a low-cost version of Eli Lilly and Co.’s osteoporosis medicine. Indianapolis-based
Lilly is seeking a court order that would block approval until three of its patents expire in 2017.Lilly hopes Elanco unit becomes a cash cow
Elanco Animal Health chief Jeff Simmons predicts that consumers will opt for food made cheaper by using
Elanco’s productivity-enhancing drugs over pricier organic and locally grown products. But, as a hedge,
he has Elanco developing products to help organic farmers, too.Latest Lilly job cuts target marketing employees
Indianapolis-based drugmaker Eli Lilly and Co. is on course to cut 5,500 jobs by the end of 2011 in a bid to eliminate $1
billion in annual expenses.Lilly still waiting on once-weekly Byetta
The U.S. Food and Drug Administration last week pushed its self-declared deadline for rendering an approval decision on the
drug Bydureon to Oct. 22. The previous deadline was in March.Ritter’s buyer embarking on custard chain turnaround
After purchasing the Franklin-based company two years ago, TruFoods says it now is positioned to seek franchisees in an attempt
to grow the Ritter’s chain to 100 locations within five years.Lilly, others cut U.S. tax bills through transfer pricing
U.S. companies, including Eli Lilly, amassed at least $1 trillion in foreign profits not taxed in the U.S. as of the end of
last year. That cumulative total increased 70 percent over three years.Lilly Endowment’s value drops to $5.3 billion
Lilly Endowment announced Monday that its assets declined 7 percent, to $5.3 billion, in 2009, as the foundation continued
to lose money on Eli Lilly and Co. stock.