Overseas tax savings for U.S. drugmakers under threat
Eli Lilly and Co. and five other big drugmakers avoided paying $7 billion in U.S. taxes last year by shifting their profits overseas. The strategy has drawn the ire of some legislators.
Eli Lilly and Co. and five other big drugmakers avoided paying $7 billion in U.S. taxes last year by shifting their profits overseas. The strategy has drawn the ire of some legislators.
Supporters of Indiana's charter schools and private school vouchers packed a Statehouse corridor with hundreds of children from those schools for a rally Monday as they backed expansion of those programs.
As the second half of the legislative session begins to heat up, one of the bills still in play deserves calling out for its blatantly political intent.
An Indiana woman who wanted to honor her late husband with a headstone that captured his interests in sports and the outdoors is suing the Roman Catholic Archdiocese of Indianapolis Properties Inc. for refusing to install it.
Indiana's House Republicans are looking to spend $750,000 on renovations to desks, leather chairs and a ceiling in their Statehouse chamber, after spending $74,000 to replace worn carpeting in the Statehouse last summer.
Indiana lawmakers have been aggressive in cutting taxes in recent years, the state Senate's top budget writer said Thursday as his committee started reviewing a spending plan that leaves out Republican Gov. Mike Pence's proposed 10-percent income tax cut.
Democratic Party officials announced that veteran Capitol Hill staffer John Zody was the only person to meet Wednesday's deadline to be considered for the chairmanship when the state central committee votes on its leadership Saturday.
An Indiana House panel on Tuesday unanimously approved a measure pushed by a 13-year-old boy that would allow sports leagues to hire youngsters like him as referees.
The scariest thing for the Speedway and IndyCar Series is that the breaches could indicate there are forces within the organization’s leadership pushing in different directions.
City-County Councilor Jose Evans, twice elected as Democrat, announced Tuesday he would become a member of the Republican Party and caucus with Republican councilors, taking the Democratic majority from 16-13 to 15-14.
Eli Lilly and Co. has sued Roche Holding AG’s Genentech unit, asking a court to invalidate patents used to make treatments for cancer and autoimmune diseases, Bloomberg News reported. Lilly wants a court to reaffirm the patents behind its own cancer drug Erbitux. According to Lilly’s lawsuit, filed Thursday in federal court in San Francisco, Genentech deceived the U.S. Patent Office into issuing patents known as “Cabilly” after one of the inventors. Genentech claims that the process and certain starting materials used to produce Erbitux infringe on parts of the patents, and is pursuing an “aggressive litigation policy to protect its products against competition,” according to the complaint. Erbitux, made by Indianapolis-based Lilly’s ImClone unit, is approved in the United States to treat colon cancer and head and neck tumors. Lilly realized about $400 million in revenue from the drug in 2012. A phone call to Genentech’s media office seeking comment about the lawsuit wasn’t immediately returned.
Indianapolis-based CHV Capital joined Kaiser Permanente Ventures to invest an $8 million funding round for Health Catalyst, a Salt Lake City-based data warehousing company. The company already had raised $33 million in Series B funding to develop its technology, which helps hospitals measure quality data from their electronic medical record systems and report it to regulatory agencies and health insurers. Indiana University Health, the hospital system that is the parent of CHV Capital, already is using Health Catalyst’s technology.
The Indiana Senate voted last week to expand Medicaid using the state-run Healthy Indiana Plan. According to the Associated Press, Gov. Mike Pence and the Republican-led General Assembly have beat back efforts by Democrats to expand coverage using the traditional federal-state Medicaid program for the poor. Instead, they say, expansion should be done through the Healthy Indiana Plan or a similar state-run program, giving the state more control over costs. Expanding HIP would cost the state roughly 3 percent less than expanding Medicaid, state actuary Milliman Inc. estimated on Feb. 25. And supporters say HIP would promote more responsible decisions by enrollees. On the table is an expected $10.5 billion in federal aid for the state over the next seven years. But expanding HIP also could cost the state close to $2 billion over the period. House Speaker Brian Bosma, R-Indianapolis, said Tuesday that Pence likes the Senate's request for block grants from the federal government instead of matching funds for Indiana’s spending, as is the case with traditional Medicaid. "At least the leadership is all in favor of not using Medicaid expansion as the vehicle here because of the potential for massive cost in the future," Bosma said. Seven Democratic senators voted with all of the chamber's Republicans for the expansion, despite reservations about using HIP. "We don't agree with the bill the way it was written, but we want to make sure it remains alive," said Sen. Karen Tallian, D-Portage. Tallian asked lawmakers to approve a temporary expansion of Medicaid, for two years, similar to what Florida Gov. Rick Scott, a Republican, is supporting. But her amendment and similar efforts in the House failed.
Warsaw-based Zimmer Holdings Inc. said the U.S. Securities and Exchange Commission and the U.S. Department of Justice have ended their investigation into a possible violation by Zimmer of the Foreign Corrupt Practices Act. The investigation dates to September 2007. Zimmer is the world’s largest maker of orthopedic implants.
The National Science Foundation has awarded $500,000 to West Lafayette-based Tymora Analytical Operations LLC via a Phase II Small Business Innovation Research grant. Tymora will use the two-year grant to develop a technology called pIMAGO that helps lab researchers identify new targets for drugs to fight such diseases as cancer, diabetes, neurological disorders and immune system disorders. Tymora, founded by two Purdue University professors, has also received $450,000 in previous grants from the National Institutes of Health.
Senators will consider changes to the House-approved budget plan that calls for $700 million more in school and road spending than proposed by Gov. Mike Pence and leaves out his proposed 10-percent cut to the state's income tax rate.
With a glistening $400 million casino set to open in downtown Cincinnati on Monday, officials and casino executives in two neighboring states are looking at the development with trepidation as they prepare to watch tax dollars flow into Ohio.
The first half of this year’s General Assembly session has been much quieter, at least partly because of election victories in November that gave Republicans a larger House majority, preventing new Democratic walkouts from stopping legislative action.
The sequestration plan kicking in Friday will chop Medicare payments to hospitals, doctors and nursing homes by 2 percent, beginning April 1. One study estimates that the cuts could result in 10,000-plus job losses in Indiana alone.
Incoming IBJ Editor Greg Andrews announced the appointment of Cory Schouten as managing editor.
A bill to create a rapid-transit system in central Indiana is headed for the crucible of the Senate, where skeptics stand ready to tear apart the proposal’s $1.3 billion financing plan.
We’ve made it halfway through the 2013 legislative session with much less in the way of figurative fisticuffs than in the last several sessions—for which the participants and observers seem grateful.
I enjoyed Greg Morris’ [Feb. 25] column. However, I wish he had taken it one step further to explain the absurdity of these so called “sequestration” cuts as they relate to baseline budgeting.