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Articles

Lilly woes take notch out of debt rating

August 24, 2010

Even with debt levels at Eli Lilly and Co. at paltry lows, a string of bad news finally forced Standard & Poor’s
to lower
its rating on the company’s senior unsecured debt. But the New York-based agency said it believes the Indianapolis-based
drugmaker will eventually break its string of bad luck on developing new products.

People

August 24, 2010

Dr. Daniel Kraft has joined Riley Hospital for Children to oversee Riley’s new sports medicine program
for young athletes. Kraft most recently served as the founder and director of the Youth Sports Medicine Institute at Methodist
Sports Medicine—The Orthopedic Specialists. Both Riley and Methodist are owned by Indianapolis-based Clarian Health.

Dr. Jennifer Eikenberry and Dr. Amy M. Waddell have joined the Eugene and Marilyn Glick
Eye Institute at the Indiana University School of Medicine. Eikenberry will see patients at the University Hospital clinic.
Waddell will see patients at the Wishard Memorial Hospital clinic. Both were residents in the IU medical school’s department
of ophthalmology.

Catherine A. Clements has joined the health and life sciences practice group at Baker & Daniels LLP.
Clements earned her law degree in 2009 from Indiana University in Bloomington. Before that, she helped develop clinical trials
at Eli Lilly and Co. and the Roudebush Veterans Affairs Medical Center in Indianapolis.

A half-century later, Indiana Landmarks returns to roots

August 25, 2010

Old Centrum Watch VideoBankrolled by yet another multimillionaire, the historic preservation group is preparing to move into a new headquarters
in Old Centrum, a former church now undergoing a big renovation.

Diabetes research pioneer Kirtley dies at 96

August 25, 2010

Diabetics who control their disease with pills instead of frequent insulin injections can thank Dr. William R. Kirtley, a
groundbreaking Eli Lilly researcher.

Funeral company in 129th year keeps fresh perspective

August 26, 2010

Flanner and Buchanan Funeral Centers sometimes stretches the definition of “funeral” to stay relevant after nearly
130 years. The family-owned business began downtown and has grown northward along with the city’s population. Today,
it has 14 funeral centers and conducted 2,200 funerals last year.

Indiana universities nearly double research spending

August 26, 2010

In the last 10 years, Indiana’s major research universities—Indiana and Purdue—have nearly doubled their
science-based research budgets, to a total of $895 million. Yet Indiana’s public universities still run in the middle
of the pack nationally.

Lilly wins further delay in sales of Strattera copies

August 27, 2010

Strattera generated U.S. sales of $445.6 million last year, and each day that Lilly can fend off generic competition would
translate into an average $1.22 million in sales.

After health reform, Lilly looking for more

August 31, 2010

The health reform debate may have ended in Congress, but Eli Lilly and Co. remains active, sponsoring a talk about the positives of the
bill—and calling for further government efforts to help pharmaceutical research and development.

CFO of the Year: Past recipients

August 31, 2010

Previous Top Honorees are not eligible for nomination.  Remaining honorees are eligible. 2022 Not-For-Profit Mark Kern, Chief Financial Officer, Firefly Children and Family Alliance – Top Honoree Michael E. Johnson, Chief Financial Officer, CICOA Aging & In-Home, Solutions Inc. Jenny Skehan, Chief Financial Officer, Girl Scouts of Central Indiana Government Schools Brian Tomamichel, Assistant Superintendent […]

Lilly wins ban of generic Strattera pending appeal

September 1, 2010

The U.S. Court of Appeals for the Federal Circuit in Washington on Tuesday granted Lilly’s request to prevent sales until the court rules on a judge’s decision invalidating a patent on the medicine.

Appeals court ruling upholds Lilly’s Evista patents

September 1, 2010

Eli Lilly and Co. won a court ruling Wednesday that blocks plans by Teva Pharmaceutical Industries Ltd. to sell a generic version of the Evista osteoporosis treatment before March 2014.

CEO says Lilly still not interested in huge acquisitions

September 7, 2010

Lilly remains disinterested in making big acquisitions and aims to rely on the company’s own pipeline, CEO John Lechleiter said Tuesday, re-emphasizing a strategy he has outlined several times in the past year.

Company news

September 7, 2010

After a string a bad luck, Eli Lilly and Co. finally won a court ruling in a patent case. The U.S. Court of Appeals for the Federal Circuit in Washington stood behind a lower-court ruling that blocks plans by Israel-based Teva Pharmaceutical Industries Ltd. to sell a generic version of the Evista osteoporosis treatment before March 2014. The court also said the judge was correct to invalidate two other patents that expire in 2017. The ruling protects a drug that generated $682.2 million in U.S. sales last year for Lilly. Last month, Lilly lost an appeal over the patent on its cancer medicine Gemzar and lost an initial ruling over the patent on its attention-deficit treatment Strattera.

Indianapolis-based SonarMed Inc., which makes respiratory monitoring technologies for hospital patients, has raised $1 million from angel investors. The money should allow SonarMed to launch its Airway Monitoring System, which won clearance from the U.S. Food and Drug Administration in April. Participants in the Series A funding round included StepStone Angel Investors, Spring Mill Venture Partners and BioCrossroads, all headquartered in Indianapolis, along with Chicago-based Hyde Park Angels and Cincinnati-based Queen City Angels.

Clarian Health is expected to create nearly 1,200 jobs when it builds a neurosciences center and administrative building just south of Methodist Hospital. Clarian is partnering with Shiel Sexton Co. Inc. on the roughly $200 million project, in which the hospital system would lease space in the buildings. The 1,187 jobs Clarian expects to create would boast an average annual salary of nearly $47,000. Clarian plans to start construction in November on the 247,000-square-foot, $120 million neurosciences center, with a completion date of April 2012. Meanwhile, work on the 280,000-square-foot, $87 million administration building is scheduled to start in April and would be finished in May 2013.

Angie’s List has partnered with Tennessee-based Healthcare Blue Book to give consumers price information before they receive medical care. The Indianapolis-based consumer review and rating service started making the price information available to members on its website Wednesday. The same information already is available directly from Healthcare Blue Book, a website launched last year that provides the average price health care providers charge for services ranging from ordinary pediatrician visits to complicated surgeries to expensive diagnostic imaging tests. Healthcare Blue Book encourages consumers to negotiate upfront with health care providers, even generating a contract for them to sign agreeing to the fair price Healthcare Blue Book’s database finds for the doctor’s local area. Angie’s List has been making available consumer-generated reports and ratings on health care providers since the spring of 2008.

Lilly investing up to $150M in VC funds

September 8, 2010

The three venture funds, which will focus on drug development, may be worth a total of $750 million, up to $250 million each, and Lilly will contribute as much as 20 percent of the money.

Lab used by Lilly, peers accused of animal cruelty

September 8, 2010

An investigation found that lab employees kicked, threw, and dragged dogs; lifted rabbits by their ears and puppies by their throats; violently slammed cats into cages; and exposed animals to toxic chemicals.

United Way teams with Colts for fundraising campaign

September 9, 2010

United Way of Central Indiana will appeal to Colts fandom this fall as it tries to meet an all-time high fundraising goal of $41 million. In a first-time partnership with the agency, the Colts are sponsoring giveaways that will be available to anyone who donates.

On-site health care clinics moving beyond traditional settings

September 9, 2010

Health clinics based in employers’ offices are showing signs of breaking out of their niche among blue collar and government employers—factories, warehouses and school corporations—and could pop up in Class A office buildings filled with white collar workers.

Lilly wins reversal of class action in Zyprexa suit

September 10, 2010

A U.S. appeals court in New York threw out a September 2008 ruling that said plaintiffs could pursue as a group claims that Zyprexa marketing caused them to pay more for the drug than what it was worth. The plaintiffs were seeking $6.8 billion in damages.

Lilly wins appeal in Zyprexa case

September 11, 2010

An appeals court overturned a ruling from two years ago that granted class-action status to plaintiffs who alleged improper marketing of the schizophrenia drug.

Senate panel refuses to fund GE engine made by Rolls-Royce

September 14, 2010

The decision holds potential bad news for Indianapolis engine maker Rolls-Royce, which produces the engines. Rolls-Royce is the region’s second-largest manufacturer, behind Eli Lilly and Co., with about 4,300 local employees.

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