School moving to vacant downtown building
A small private school that serves gifted and talented students intends to move to a downtown building that has been vacant since a daycare center moved out three years ago.
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West Lafayette-based Endocyte Inc. is preparing “conditional marketing” applications to the European Medicines Agency for its lead cancer drug and a companion diagnostic test based on Phase 2 clinical trial data. The European agency approves some drugs even before getting the final Phase 3 trial data if the medicine would treat a life-threatening disease to patients in areas of high unmet medical need. Endocyte's drug, EC145, is designed to treat ovarian cancer that has proved resistant to platinum-based chemotherapy agents. A companion imaging diagnostic, called EC20, would help select the patients most likely to benefit from EC145. Getting a drug on the European market early could provide much-needed revenue to Endocyte, which has no revenue-generating products.
OneAmerica Financial Partners Inc. is the latest employer to open an on-site wellness clinic, making it available to its 1,300 employees based in downtown Indianapolis and their adult family members. The clinic will be operated by Indianapolis-based OurHealth, which last fall opened a similar clinic at the headquarters of Indanapolis-based Interactive Intelligence. OneAmerica will make the clinic the center of its wellness program, allowing employees to regularly check their cholesterol, blood sugar and other indicators of health status. OneAmerica employees can save as much as $300 off their health insurance premiums if they “effectively manage” five key health targets: weight management, blood pressure, cholesterol, tobacco use and glucose level. Employees can also make no-cost sick visits to the clinic, which is staffed by two doctors, a nurse practitioner, two nurses and a health coach.
California-based Hycor Biomedical Inc. plans to move its headquarters to central Indiana, creating as many as 20 jobs in the next two years. Hycor, which makes diagnostic products for clinical laboratories, is leasing space on East 98th Street while it lines up a permanent site for its operations. Founded in 1981, Hycor entered the diagnostics market in 1984. It now provides urinalysis, allergy and autoimmune testing products for clinical laboratories, hospitals and doctors' offices worldwide. Company officials said they liked Indiana’s central location, its base of life sciences workers, and $640,000 in tax credits from the Indiana Economic Development Corp.
WellPoint Inc.’s better-than-expected profit in the first quarter continued a rally among health insurers this month. Indianapolis-based WellPoint reported Wednesday that it earned $926.6 million, or $2.44 a share, in the three months ended March 31. Excluding investment gains and special items, WellPoint’s profit rose 2.2 percent, to $891 million, or $2.35 a share. On that basis, Wall Street analysts were expecting $1.87 a share, according to a survey by Thomson Reuters. WellPoint responded by boosting its full-year profit forecast 40 cents a share. On Tuesday, Louisville-based Humana Inc. reported quarterly earnings that soared 63 cents above analysts’ expectations. It raised its full-year profit forecast 75 cents a share and announced it would begin paying a dividend. And on April 21, Minnesota-based UnitedHealth Group reported first-quarter profit that was 33 cents a share higher than analysts had forecast. The main factor driving the insurers’ healthy profits are that health care spending has been lower than expected and employment has improved slightly, putting more people on the rolls of employer-sponsored health plans. Also, the profit pressure of the 2010 Patient Protection and Affordable Care Act has not been as great as many expected.
Indianapolis-based Dow AgroSciences on Thursday reported record sales of $1.6 billion in its first quarter, up 17 percent from the same period last year due to higher volume and increased prices. Quarterly earnings before interest, taxes, depreciation and amortization improved nearly 6 percent to $406 million in the quarter ended March 31. The company attributed double-digit volume gains to new products and good weather that allowed for early application of its herbicides. Research and development expenses increased 10 percent during the quarter.
Warsaw-based orthopedic implant maker Zimmer Holdings Inc. saw first-quarter profit rise a modest 2 percent but still beat the expectations of Wall Street analysts, according to the Associated Press. The company reported profit of $209 million, or $1.08 per share. Excluding charges, the company earned $1.19 per share, well higher than average analyst forecasts of $1.13 per share. During the quarter, sales of reconstructive hip and knee products rose 3 percent to $842 million.
Industrial support for utility sale to cost $1.5 million
The price to get big industrial firms like Eli Lilly and Co., National Starch and Rolls-Royce Corp. to support the sale of the city’s water and sewer utilities to Citizens Energy Group is at least $1.5 million.
New Indiana congressional districts clear Legislature
The Indiana House voted 62-31 mostly along party lines Thursday to give final legislative approval to the redistricting plan and send it to Republican Gov. Mitch Daniels, who is expected to sign it.
Who’s Who in Commercial Real Estate – 2011
Every business sector has influential players, whether they are in the public eye or wield their influence behind the scenes. IBJ is identifying those people in eight different industry categories. Up this month: commercial real estate.
Watchmaker has a flair for precision
Bill Rostiser has practiced watchmaking for more than half of his life. At 60, he has worked 38 years at Windsor Jewelry just south of Monument Circle. During that time, he watched the downtown area flourish, along with the business.
KENNEDY: Legislature’s bottom line is political
Many Indiana citizens have been hit hard by the recession, and the General Assembly has reacted by kicking them while they’re down.
MARCUS: Evansville is the least loser or best of the bad
Recent data from the bottom of the recession reveal all seven economic areas that include Indiana counties experienced declines in per-capita personal income.
Allison Transmission prepares to enter nascent hybrid market
The industry is waiting for the magic combination of high fuel prices and government-backed incentives to turn potential into profit.
BENNER: Pacers turn corner, but bigger issues await the team
Rarely is a playoff loss, let alone a first-round playoff loss, let alone a 4-1 playoff loss in a best-of-seven series, cause for celebration.
Also this week
Tribute is paid by Marcus Miller and Wallace Roney in “Celebrating Miles,” a tribute to Miles Davis, April 30 at the Palladium. Details here.
Opera great Sylvia McNair and The Four Freshmen join the Indianapolis Symphony Orchestra for a pops concert, April 29-30 at Hilbert Circle Theatre. Details here.
Author Temple Grandin speaks on visual thinking, April 28 at the Indianapolis Museum of Art. Details here.
Phil Gulley joins Encore Vocal Arts for songs and stories in a “Harmonies from the Heartland” program, April 30 at Meridian Street United Methodist Church. Details here.
Fathom Events presents the Broadway musical “Memphis” in movie theaters, April 28-May 3. To find a participating theater near you, click here.
Six shows by women writers are presented April 29-May 1 under the Diva Fest banner at the Indy Fringe Building. Details here.
“Spotlight 2011”
May 2
Clowes Hall
Yes, it’s a charity event raising significant funds for the Indiana AIDS Fund. But Spotlight is also an annual opportunity to feel really, really good about the quality, quantity and spirit of the Indianapolis arts talent pool.
This time, such anchoring acts as the Indianapolis Symphony Orchestra (scheduled to offer Sibelius’ “Andante Festivo”), drag-ster Asia La Bouche (strutting it to Katy Perry’s “Firework”) and tenor Steven Stolen, are joined by Actors Theatre of Indiana (with “Cell Block Tango” from the aforementioned “Chicago”), the Phoenix Theatre (ditto from “The Zippers of Zoomerville”), Indianapolis Opera, Gregory Hancock Dance Theatre, Indianapolis Children’s Choir, Brenda Williams, Dance Kaleidoscope with Cathy Morris (in a sneak peek at their upcoming collaboration), poet Tasha Jones, the Indianapolis Men’s Chorus, the return of Milicent Wright (representing the IRT in an excerpt from “Neat”) and a lot more. Details here.
Local architectural firm Woollen Molzan disbands
The venerable Indianapolis architectural firm that designed many of the city's most recognizable buildings—including the Minton-Capehart Federal Building—has closed and two of its leaders have joined a local competitor.
Critical mass with Dance Kaleidoscope (and free pizza)
DK’s David Hochoy hosts a panel of arts writers. What do you want him to ask?
Butler to announce new president
The private, 4,600-student Indianapolis university scheduled an event Wednesday afternoon to introduce its new president.
Colts training complex open to players
NFL said players will be treated with courtesy, but will not be allowed to use weight rooms or other practice facilities. Contract negotiations between Colts and Peyton Manning still on hold.
Company news
Bedford Regional Medical Center will receive a $46.8 million community facility direct loan from the U.S. Department of Agriculture to construct a new critical access hospital, according to an announcement from U.S. Sen. Dick Lugar’s office. Bedford Regional is owned by Indianapolis-based Indiana University Health, and is one of two hospitals in the southern Indiana town.
Indiana University Health ranked as the fourth-busiest transplant center in the nation, according to new data from the U.S. Organ Procurement and Transplantation Network. The Indianapolis-based hospital network performed 500 organ transplants last year, an uptick from 483 transplants in 2009. In three categories—intestine, pancreas and kidney-pancreas—IU Health ranked No. 1in the nation for volume of transplants. IU Health also ranked third in abdominal organ transplants, sixth in liver transplants, and ninth in kidney transplants. IU Health, formerly known as Clarian Health, has ranked as one of the nation’s top 10 busiest transplant centers since 2003.
A proposal that would have weakened Eli Lilly and Co.’s defenses against an unwanted takeover failed to pass April 18 despite a large majority of shareholders voting to remove those barriers for the second straight year. At the drugmaker’s annual shareholders meeting at its Indianapolis headquarters, 84.7 percent of the votes cast called for removing several provisions designed to prevent a hostile takeover of the company. However, Lilly’s bylaws require approval from 80 percent of all shares—whether voted or not—before removing the provisions. By that standard, only 72.6 percent of shares were voted in favor of removal. The vote tallies were nearly identical to those at last year’s meeting. For the past 25 years, Lilly has required the approval of 80 percent of the shareholders not only to approve hostile takeovers, but also to enact measures used to achieve them, such as removing directors before their terms end or expanding the size of the board. If the proposal had passed, such measures could have been approved by a bare majority of shareholders.
People
Community Hospital South has hired Dr. Sheryl King as director of inpatient pediatrics. She holds a medical degree from the Indiana University School of Medicine. King practiced in Bloomington for 12 years before moving her practice to Johnson County in 2007.
Community South Hospital named Cheri Pfahler, a registered respiratory therapist, as its neonatal and pediatric cardiopulmonary manager. She comes to Community after serving as clinical coordinator of respiratory care for women’s and children’s services at Franciscan St. Francis Health.
Community Health Network named Jessie Westlund, a registered nurse, its chief integration officer. Westlund has previously been CEO of Community’s home health services unit.
Community Health Network also named Tom Malasto as chief operating officer of its three Indianapolis hospitals: Community North and the Indiana Heart Hospital in Castleton, Community East and Community South, along the county line between Marion and Johnson counties. Malasto has previously been CEO of the Indiana Heart Hospital.
Victor Esan has accepted the position of chief practice officer of IU Health Ball Memorial Hospital, where he will work to form and grow physician partnerships in and around Muncie. Esan previously worked at Howard Regional Health System in Kokomo. He earned master's degrees in public management and business administration from Indiana University Kokomo.
India J. Taylor Owens, a registered nurse, has been selected as director of emergency services at Franciscan St. Francis Health, overseeing the emergency departments at Franciscan’s Beech Grove, Indianapolis and Mooresville hospitals. Owens most recently served as director for emergency services at Indiana University Health West Medical Center in Avon.
WellPoint Inc. named Meg Rush vice president of consumer experience and e-marketing. Most recently, Rush served as vice president of product management and design for WebMD Health Services. Rush holds a bachelor's degree from St. John Fisher College in New York and a master's of management degree from Pennsylvania State University.
Adam Chavers has joined Indiana University Health as executive director of corporate real estate for the chain’s hospitals statewide. Before joining IU Health, Chavers served for seven years as Indianapolis-based Kite Realty Group Inc.’s vice president of acquisitions, dispositions and investor relations.
Roundup: Detour, Froyo, Huddles, Cannoli Queen, Dairy Queen, Scotty’s, more
Detour: An American Grille, Cannoli Queen and a couple of new frozen yogurt spots lead off a crowded restaurant and retail roundup.
Cook applied business mindset to historic preservation
Colleagues say Bill Cook began each historic restoration contemplating what practical use each newly polished structure might serve, and how it might spark development around it.