The findings suggest that users of drugs to treat erectile dysfunction, including Eli Lilly’s Cialis, may be more likely to
engage in unsafe sex than nonusers.
The global financial press keeps asking John Lechleiter for his end-game strategy to survive Eli Lilly and Co.'s nightmarish
patent challenges. And, like a broken record, the Lilly CEO keeps giving the same answer: pipeline, pipeline, pipeline—no
mega-merger.
A $1.5 million grant the the Eli Lilly and Co. Foundation will train Indiana science teachers in a new curriculum that helps
students learn through exploration and problem solving.
Concentrics grows in spite of recession as drug companies look for help to handle patent expirations
To achieve outsized returns, whether in mutual funds or individual stocks, investors must avoid the hype and reliance on past outperformance.
Eli Lilly and Co. is launching a diagnostics division to produce tests that can winnow out the patients most likely to benefit
from a Lilly drug.
Eli Lilly and Co. will cut 170 jobs—mostly in Indianapolis—from its manufacturing and quality division by the
end of the year as it continues its efforts to slim down before losing revenue from patent expirations on its bestselling
drugs.
Both of Lilly’s late-stage treatments are designed to reduce plaque in the brain called beta amyloid, thought by researchers
to be a main contributor to Alzheimer’s. A drug that stops or reduces memory loss caused by Alzheimer’s may be worth more
than $5 billion
a year, an analyst says, helping Lilly overcome the coming patent losses on several important pharmaceuticals.
Two Indianapolis giants—Eli Lilly and Co. and Roche Diagnostics—are working hard to pair up drugs and diagnostic
tests to gin up more sales.
Medical device maker Biomet Inc. plans an expansion of its northern Indiana facilities that could add about
280 jobs, according to the Associated Press. Company officials have discussed the plan with Kosciusko County officials as
they've sought tax breaks on the $26 million project. Biomet attorney Richard Helm says the expansion in Warsaw would
retain about 80 jobs and lead to some manufacturing being moved there from New Jersey. The project would also expand Biomet’s
Warsaw distribution center.
Eli Lilly and Co. will cut 170 jobs—mostly in Indianapolis—from its manufacturing and quality
division by the end of the year as it continues its efforts to slim down before losing revenue from patent expirations on
its bestselling drugs. The Indianapolis-based drugmaker’s latest move will cut nearly 5 percent of its 3,600-person
manufacturing work force in the United States. Lilly will ask for voluntary departures, but it also will eliminate the jobs
of others involuntarily. Some jobs have already been eliminated through attrition. Lilly has announced nearly 2,000 job cuts
toward its goal of 5,500 cuts, which the company set in September. The company is also trying to eliminate $1 billion in annual
expenses by the end of 2011. At that time, it hopes to have a worldwide staff of about 35,000. It currently employs 12,400
in Indiana.
Hundreds of patients will be shifted from Indiana's state psychiatric hospitals into community-based care under a plan
that officials say will eliminate more than 500 jobs, according to the Associated Press. The biggest changes and the layoffs
will come at the Logansport and Richmond state hospitals, while units at the Evansville and Madison hospitals will be converted
to care for those with serious mental illnesses. The moves by the Indiana Family and Social Services Adminstration are expected
to reduce the number of patients at the six state hospitals by about 30 percent and save $15 million a year. The Logansport
State Hospital will have 355 of its 900 workers laid off and 80 vacant positions eliminated. The Richmond
State Hospital will lose 106 of its 600 workers.
A medical device company is seeking a property-tax abatement to offset costs associated with a $1.1 million expansion of
its facility at 3735 N. Arlington Ave. in Indianapolis. New York-based Greatbatch Medical Inc. expects to
create eight jobs at an average wage of $12.75 an hour and retain 146 jobs at an average wage of $14 an hour, according to
the abatement request. Greatbatch specializes in cardiovascular products but is expanding into the orthopedics market, which
is prompting the expansion, the company said.
The Indianapolis-based drugmaker eliminated 140 information technology jobs in June through retirements, resignations and some cuts. Another 115
cuts will be made this month, and the remainder by the end of the year.
Drugmakers testing experimental Alzheimer’s medicines—including Eli Lilly and Co.—got good news last week
when the National Institute on Aging and the Alzheimer’s Association proposed new guidelines to make earlier diagnoses
of the disease.
It may be the health care world’s version of a popularity contest, but it’s still fairly prestigious. It’s
the annual U.S. News & World Report ranking of hospitals. Eleven clinical programs at Clarian Health
and the Indiana University School of Medicine were ranked among the top 50 programs nationally. The rankings
focus on high-volume hospitals and are driven in large part by reputation surveys. No other Indiana-based hospitals were named
to the list. Clarian placed 13th for urology; 14th in gastroenterology; 25th in both geriatrics and ear, nose and throat;
29th in orthopedics; 32nd in lungs; 38th in kidneys; 40th in neurology and cancer; 48th in diabetes; and 49th in cardiology.
In the latest online matchmaking service, Bloomington-based Cook Medical and Indiana University
have created an online portal where medical inventors and health care entrepreneurs can find each other. The website, i2iconnect.org,
allows users to search a database of medical companies by keywords or disease categories. i2iconnect is partly supported by
a stimulus grant from the National Institutes of Health to the Indiana Clinical and Translational Sciences Institute, which
is based in Indianapolis. In 2008, the Indiana Economic Development Corp. tried to start a similar portal for entrepreneurs
of all kinds.
Indianapolis-based BioCrossroads, a life sciences business development group, received a $1.25 million grant
from the Richard M. Fairbanks Foundation, also based in Indianapolis. Fairbanks gave BioCrossroads $2.5 million to fund various
educational and public health efforts.
Eli Lilly and Co. told employees July 15 that it’s cutting 340 information technology positions in
Indiana as part of its march toward 5,500 job cuts by the end of 2011. The Indianapolis-based drugmaker eliminated 140 IT
jobs in June through retirements, resignations and some cuts. Another 115 cuts will be made this month, and the remainder
by the end of the year, according to an e-mail from Janice Chavers, a Lilly spokeswoman. All displaced workers will get a
few months to find another job within Lilly, although those opportunities are few. Workers who leave Lilly will receive severance
based on their pay grade and time served with the company. Lilly employs about 1,250 IT workers in the United States.
Three Indianapolis hospital systems were named “most Wired” hospitals by Hospital & Health Networks
magazine. Clarian Health, Community Health Network and the Roudebush Veterans Affairs Medical Center
all made the list of the top 100 hospital systems in the country using information technology to boost quality, customer service,
safety and business operations.
Massachusetts-based Alnara Pharmaceuticals Inc. is a privately held company
developing an enzyme-replacement therapy for disorders of the pancreas.
Indianapolis-based drugmaker Eli Lilly and Co. recorded profits of $1.3 billion, or $1.22 per share, during the three months
ended June 30,
even after paying $27 million in severance to laid off employees.
Investors are focused on whether Eli Lilly and Co. can continue dividend payments when patent expirations hit in the new few
years and whether the company's drug development pipeline can replace lost revenue.
Commuters and truckers could get an all-day headache when Interstate 70 closes in October to allow Eli Lilly and Keep Indianapolis
Beautiful to spruce up part of the city.
Venture dollars for Indiana life sciences companies are still few, but the flow of deals is picking up. Nine Hoosier companies
scored investments totaling $10.4 million during the first six months of the year.
Riley Children’s Foundation received a $1.5 million pledge from the Jeff Gordon Children’s Foundation
to create a cancer research fund. The gift will create a $1 million endowment to fund collaborative research at Riley
Hospital for Children and the Wells Center for Pediatric Research at the Indiana University School of Medicine.
The remaining $500,000 will address immediate research needs at Riley hospital.
Indiana Spine Group will break ground on a 60,000-square-foot facility in Carmel on Aug. 2. The Indianapolis-based
physician practice says it will be able to provide care for any spinal disorder at the center. Located just south of the St.
Vincent Carmel Hospital, the facility will open in the fall of 2011. Indiana Spine Group will relocate its practice, which
is currently near St. Vincent Indianapolis Hospital.
Eli Lilly and Co.’s profits spiked 16 percent in the second quarter to $1.3 billion, or $1.22 per
share, handily beating expectations of Wall Street analysts. Revenue at the Indianapolis-based drugmaker rose 9 percent to
$5.7 billion in the quarter. The company raised its year-end profit forecast by a dime a share, to a range of $4.50 to $4.65,
excluding special items.
Zimmer Holdings Inc. also topped Wall Street expectations for second-quarter profit. The Warsaw-based maker
of orthopedic implants turned a profit of $165.5 million, or 82 cents per share. But it spent $86.5 million on legal claims
and an acquisition. Excluding those costs and special tax savings, the company would have earned $221.2 million, or $1.09
per share—four cents above analysts’ expectations, according to Thomson Reuters. Sales rose 3 percent to $1.06
billion.
