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PETER SCHNITZLER Commentary: Embrace India while you still can

February 27, 2006

PETER SCHNITZLER Commentary Embrace India while you still can India will fool you, if you don’t pay attention. The term “developing nation” doesn’t begin to do it justice. Having traveled internationally a number of times before, I thought I was prepared for whatever culture shocks awaited more than 8,000 miles away. I anticipated the heaving crowds, the livestock in the crumbling streets, even the abject poverty. I didn’t expect innovation. And especially not entrepreneurship on par with the kind found…

Emerging India: Opportunity or threat?: Indiana businesses brace for growing global competition

February 27, 2006

Opportunity or threat? Indiana businesses brace for growing global competition Next month, President Bush will make his first official visit to India. To most of the American media, it’ll be just one more round of global terrorism discussions with a distant foreign nation, perhaps worthy of a brief. The Indian press knows better. Six weeks ahead of Bush’s trip, banner headlines about it ran in every newspaper. Al Hubbard knows better, too. Friends with Bush since their days at Harvard…

Lilly says hands off Gemzar: Drugmaker files suit to keep cancer drug off generic market

March 13, 2006

Fresh off one blockbuster patent defense, Eli Lilly and Co. mounted another last month when it filed suit to protect its billiondollar cancer drug Gemzar. The Indianapolis drugmaker sued Teva Pharmaceutical Industries Ltd. and a subsidiary, Sicor Pharmaceuticals Inc., to prevent them from selling generic versions of Gemzar, which treats several forms of cancer and comprises 9 percent of Lilly’s worldwide sales. Lilly learned in January that California-based Sicor had filed so-called “abbreviated new drug applications” with the U.S. Food…

BEHIND THE NEWS Auditor jabs Obsidian as it prepares to go private:

March 13, 2006

If all goes as planned, a Tim Durham-led investment group will take publicly traded Obsidian Enterprises Inc. private by the end of the month. The Indianapolis company’s five-year run on Wall Street has been inglorious by any measure. Stock in the transportation and manufacturing firm has tumbled, from a split-adjusted $12 in 2001 to $1.80 today. Over the last three years, Obsidian has posted a combined $22 million in losses. As if that weren’t enough, now the company’s former outside…

Federal patent legislation could mean major changes: Proposed reform act could cut down on ‘trolling’ and litigation by switching approvals to a first-to-file system

March 20, 2006

Pending federal legislation could bring sweeping changes to a patent system critics say is broken and in need of repair. The Patent Reform Act-before Congress since last year-presents the most substantial overhaul in decades. Significant changes include creating a process to challenge patents after they are granted and awarding a patent to the first person to submit paperwork. Patents currently are granted to the first person who hatched the invention, regardless of when documents were filed. Time frames, though, can…

Hospitality madness: City wants to grow reputation as Final Four’s ideal site

March 20, 2006

Bill Evans’ phone rang at 11 p.m. It was a basketball team. The players wanted milkshakes. He popped up like he was bouncing on one of those mini-trampolines mascots use to dunk basketballs at halftime. He tapped his partner on the shoulder. They rolled two coolers to the downtown Steak n Shake. He ordered milkshakes. Large ones. Two for each player. They put the shakes in the coolers and rolled them through the downtown night to the team hotel. The…

WellPoint freezes pensions: Insurer joins national trend, shifts focus to 401(k) plan

March 20, 2006

WellPoint Inc. quietly froze pension contributions for most of its 42,000 employees earlier this year, a move that draws criticism but falls in step with what many other big employers are doing. The Indianapolis-based health insurance giant noted deep in an annual report filed late last month that on Jan. 1 it stopped adding pay credits to the pension accounts of employees not nearing retirement. The insurer rang up a $2.5 billion profit last year and, unlike some other companies…

Markey’s sells off sales unit: Move by audio-visual firm creates new tech company

March 20, 2006

Markey’s Audio Visual, a south-side company that’s decked the stage for some of corporate America’s flashiest meetings and conventions, has sold its equipment sales and integration unit to a new firm owned by a competitor and by a family member. Sensory Technologies is held by Anne and Andy Sellers, principals of Indianapolis-based Video Images LLC-and by Kevin Markey, who headed Markey’s sales and integration. The sale last week, for an undisclosed price, allows the 47-year-old Markey’s to focus on its…

Audits give high marks to drug-testing programs: Labor organization says results show effort is working

March 27, 2006

Owners of building projects in central Indiana need not worry about laborers from certain organizations showing up for jobs with bloodshot eyes or slurred speech. Audits conducted on drug- and alcoholabuse testing programs operated by some of the state’s labor groups confirm what most in the industry say they already knew-that the system is working. The inspections were done at the urging of the Metro Indianapolis Coalition for Construction Safety, a local voluntary program of construction contractors, subcontractors and the…

Shrinking neighborhood in path of Lilly’s progress: Drugmaker offers to buy rest of Little Valley homes

April 3, 2006

It’s called Lilly Valley for a reason. The official name of the modest neighborhood on the near-southwest side is Little Valley, but many people call it by the name of the pharmaceutical giant looming nearby. Eli Lilly and Co. has been gnawing away at the neighborhood south of Morris Street for several years to accommodate expansion at Lilly Technology Center just to the west along Kentucky Avenue. Now, Lilly is seeking city approval to take over more of the neighborhood,…

CFO had humble start: Eli Lilly veteran lands in high-profile, high-pressure role

April 17, 2006

Derica Rice started figuring out his future the day he glanced in his mother’s refrigerator and actually paid attention to the insulin vials stored there. Eli Lilly and Co.’s new chief financial officer recalled being home at the end of a summer. He was fresh off an internship with another company and was in casual job talks with Lilly representatives. He had seen the clear vials his mother, Inez-a Type II diabetic-stored in her fridge, but he never read the…

Ivy Tech to focus more on results, not just growth: Student success and broader ties with employers among goals of community college system’s five-year plan

April 24, 2006

After growing its enrollment 75 percent the last decade, Ivy Tech Community College of Indiana is shifting its focus to student retention. A top administrator also wants to expand the number of training courses offered at businesses, as a way to supplement the system’s $253 million annual budget. Some who’ve studied the state’s educational system have recommended that Ivy Tech spend more to hire additional full-time faculty to strengthen its effectiveness. The school’s five-year student retention plan calls for doubling…

CHRIS KATTERJOHN Commentary: Textbook cases of entrepreneurism

May 1, 2006

You get an idea; you build a business; you sell it and make a bundle. So it was with the recent deals that took out IBJ’s No. 1 and No. 2 fastest-growing companies from 2005, Performance Assessment Network and Suros Surgical. We can bemoan the loss of headquarters, but let’s face it, these are the kinds of payoffs most entrepreneurs dream of. In just a little over five short years, PAN investors put up $7.5 million in capital and sold…

At age 2, Future Fund still work in progress: So far, 7 startups have received investments from BioCrossroads

May 1, 2006

For two years now, the $73 million Indiana Future Fund has been at work in the Indiana life sciences market. BioCrossroads, Indiana’s public-private life sciences economic development initiative, is pleased with the results so far. “When we put the Indiana Future Fund together and surveyed the landscape, there were only two or three [local venture capital] firms that really identified themselves as in [the life sciences] area,” said BioCrossroads President David Johnson. “Now we see much more traffic than we…

Former Lilly exec to head CoLucid: White leaves Boston firm to return to Indiana

May 8, 2006

CoLucid Pharmaceuticals Inc., a drug development company Eli Lilly and Co. spun out last year, has attracted Jim White as its first CEO. White was a longtime Lilly executive before spending the past five years in Boston helping grow Hypnion Inc., another pharmaceutical startup that so far has attracted $80 million from venture capitalists. “We have a lot of great talent in the state that leaves because we haven’t had the kind of jobs to retain those folks,” White said….

ECONOMIC ANALYSIS: A primer on understanding the mystery of gas prices

May 8, 2006

You usually don’t get a lot of space when you write a letter to the editor of your local newspaper. So when I’ve read those despairing cries of outrage and mystification at the behavior of gas prices recently, I have managed to resist the urge to respond in kind. Explaining energy prices-or any price, for that matter-isn’t quite as hard as hitting a curve ball in baseball, but both explanations take more than the 3 or 4 inches of column…

Refiner enjoys oil boom: Calumet Specialty Products sees stock price take off

May 8, 2006

Indianapolis is headquarters for Little Oil-Calumet Specialty Products Partners LP. Few locally have heard of the west-side refining and petroleum products company, let alone of its Jan. 25 initial public stock offering that raised $144 million. Calumet is controlled by an equally obscure group of families that still own the bulk of company shares. Yet shares of little Calumet-sales last year of $1.3 billion-are up 40 percent since the January IPO intended to fuel acquisitions. The appreciation is partly due…

Bloomington’s Cook tightens women’s health focus: New business unit plans summer product rollout

May 8, 2006

Privately held Cook Inc. has added a seventh business unit in a bid to strengthen its presence in the growing market for gender-specific health care products, a move that could bring jobs to southern Indiana. The Bloomington-based medicaldevice maker will unveil its Women’s Health unit May 8 in Spencer. The unit actually started operating last September, initially taking on a combination of products pulled from the company’s urological unit, also in Spencer. But Women’s Health leader Christina AnnÃ© said it…

Battle of the brands: Planners go back to drawing board after city slogan nixed

May 15, 2006

They thought they had a winner with The New Midwest. They even had the logo-a stylized “I”-all figured out. And a color palette. But then they hit a bump in the road. When Mark Miles became CEO of the Central Indiana Corporate Partnership in January, he joined the big group and said the slogan was a dud. At the least, he said, participants should run it by focus groups. They only had to run it by two before they realized…

Selling change at Lilly: Company overhauls strategy its thousands of sales reps use to tout drugs to doctors

May 15, 2006

Eli Lilly and Co. is rolling out a new approach to selling drugs, one that aims to build deeper relationships with doctors while cutting the number of sales reps knocking on their office door. The reorganization project, dubbed “sales force of the future,” is just what the doctor ordered, according to Lilly executives. They say physicians want fewer sales calls and a deeper knowledge base from those who still stop by. “Doctors want that primarily because they’re treating patients and…

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Articles

PETER SCHNITZLER Commentary: Embrace India while you still can

Emerging India: Opportunity or threat?: Indiana businesses brace for growing global competition

Lilly says hands off Gemzar: Drugmaker files suit to keep cancer drug off generic market

BEHIND THE NEWS Auditor jabs Obsidian as it prepares to go private:

Federal patent legislation could mean major changes: Proposed reform act could cut down on ‘trolling’ and litigation by switching approvals to a first-to-file system

Hospitality madness: City wants to grow reputation as Final Four’s ideal site

WellPoint freezes pensions: Insurer joins national trend, shifts focus to 401(k) plan

Markey’s sells off sales unit: Move by audio-visual firm creates new tech company

Audits give high marks to drug-testing programs: Labor organization says results show effort is working

Shrinking neighborhood in path of Lilly’s progress: Drugmaker offers to buy rest of Little Valley homes

CFO had humble start: Eli Lilly veteran lands in high-profile, high-pressure role

Ivy Tech to focus more on results, not just growth: Student success and broader ties with employers among goals of community college system’s five-year plan

CHRIS KATTERJOHN Commentary: Textbook cases of entrepreneurism

At age 2, Future Fund still work in progress: So far, 7 startups have received investments from BioCrossroads

Former Lilly exec to head CoLucid: White leaves Boston firm to return to Indiana

ECONOMIC ANALYSIS: A primer on understanding the mystery of gas prices

Refiner enjoys oil boom: Calumet Specialty Products sees stock price take off

Bloomington’s Cook tightens women’s health focus: New business unit plans summer product rollout

Battle of the brands: Planners go back to drawing board after city slogan nixed

Selling change at Lilly: Company overhauls strategy its thousands of sales reps use to tout drugs to doctors