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February 22, 2011

Community Health Network appointed registered nurse Cindy Adams its chief nursing officer, overseeing 3,000 nurses. On Feb. 26, Adams will replace Jan Bingle, who is retiring after 27 years at Community. Adams holds degrees from Ball State and Indiana universities. She resides in Shelbyville.

Dr. Marc Overhage is leaving Indianapolis-based Indiana Health Information Exchange Inc. to become chief medical informatics officer of Siemens, a German company with its U.S. health services business unit based in Pennsylvania. Until earlier this year, Overhage was CEO of the exchange, but stepped down and was replaced by local software entrepreneur Harold Apple.

Dr. Isaac J. Myers II will become president of St. Francis Medical Group on Feb. 28. Myers was previously vice president of clinical and business integration at Wishard Health Services. From 1998 to 2006, Myers was vice president of medical affairs for Advantage Health Solutions, a health insurer in Indianapolis. A New York City native, Myers earned his medical degree from Wayne State School of Medicine and performed his residency in family medicine at Indiana University School of Medicine.

Dr. James L. Gahimer has established a practice with the newly created Center Grove Internal Medicine in Greenwood, which is part of the St. Francis Medical Group. Gahimer previously worked as a drug safety consultant with T.L. Care Corp in Beech Grove, and before that was a medical adviser in global product safety at Eli Lilly and Co.

Company news

February 22, 2011

It’s no secret Wall Street analysts take a dim view of Eli Lilly and Co.’s future profit potential. Only two out of 22 analysts recommend buying the Indianapolis-based company’s stock. And here’s why: Lilly ranks last among nine pharmaceutical companies in pipeline sales potential by the year 2015, according to an analysis by Dr. Tim Anderson, a pharmaceutical analyst at Bernstein Research. Anderson adds up the five-year sales forecasts for all drugs under development by the nine drugmakers. Pharmaceutical journalist Jim Edwards noted that such predictions are notoriously unreliable, but it’s the best investors have to go on for predicting the pharma future. At the top of Anderson’s ranking is Switzerland-based Novartis AG, estimated to generate $4.5 billion in sales from pipeline drugs by 2015. Lilly brings up the rear with $1 billion in projected sales. Smack in the middle of the list is New York-based Bristol-Myers Squibb Co., which is roughly equal in size to Lilly and is projected to pull in $3.2 billion from pipeline drugs.

CNO Financial Group Inc. boosted its operating profits 62 percent in the fourth quarter, besting analysts’ estimates by 2 cents per share. The Carmel-based life and health insurer on Tuesday said it earned $168.2 million in the final three months of last year, a big jump from the $18.2 million profit it posted in the same quarter the prior year. Most of the increase in the most recent quarter came from investment gains. Excluding those, as well as special accounting and debt charges, CNO had a quarterly operating profit of $51.7 million, or 18 cents per common share. On that same basis, Wall Street analysts were expecting the company to earn 16 cents per share, according to a survey by Thomson Reuters. A year ago, CNO’s operating profit was $32 million, or 15 cents per share. Revenue for the quarter rose nearly 2 percent to $1.08 billion. The main improvement came on policies that CNO still holds but is no longer actively selling. That division, called “Other CNO Business,” recorded a fourth-quarter profit of $6 million, compared with a nearly $30 million loss in the same quarter last year. That helped mask a drop in profit at CNO’s main Bankers Life unit, based in Chicago. It earned $71.4 million in the quarter, a fall of 16 percent.

Eli Lilly neuroscience chief resigns

February 25, 2011

David Bredt, vice president of neuroscience research, has resigned “to pursue other opportunities,” according to Lilly spokeswoman Judy Kay Moore. Bredt had overseen Lilly’s development of various drugs, including molecules in late-stage human testing to treat Alzheimer’s and depression.

UPDATE: Lilly settles pollution suit for $337,500

February 25, 2011

A complaint filed Wednesday by the U.S. government says Lilly’s plant on South Harding Street is emitting high levels of acetonitrile and methanol, considered hazardous air pollutants by the EPA.

UPDATE: Lilly settles pollution suit for $337,500

February 25, 2011

The agreement with the U.S. government calls for the pharmaceutical company to pay a $337,500 penalty for allegedly emitting a high level of hazardous pollutants from its manufacturing plant on South Harding Street.

North of South development to start this summer

February 28, 2011

Now that financing for Buckingham Cos.’ massive project has the city’s blessing, the local developer is turning its full attention to construction of the 14-acre, mixed-use complex.

City-County Council OKs North of South project funding

March 1, 2011

The $155 million complex, to be built primarily on Eli Lilly and Co.-owned parking lots at Delaware and South streets, is to include a boutique hotel, a YMCA, apartments and retail and office space.

UPDATE: Bioanalytical researcher opening lab in Indianapolis

March 1, 2011

Advion BioServices is expected to open the lab at Purdue Research Park in Indianapolis in May with 49 employees. Some of the workers may come from Eli Lilly and Co., which is moving its drug-discovery bioanalytical operations to Advion as part of a partnership.

Company news

March 1, 2011

In a deal with Eli Lilly and Co., New York-based Advion BioSciences Inc. will open a 22,000-square-foot drug discovery bioanalytical laboratory in May at the Purdue Research Park in Indianapolis. Lilly, the Indianapolis-based drugmaker, will move its own drug-discovery bioanalytical operations to Advion as part of the partnership and retain some oversight. The lab initially will employ 49 people and could ramp up to 66 workers by 2015. Lilly expects 26 employees to lose their jobs but will be able to apply for limited positions within Lilly or at Advion’s Indianapolis lab. Advion will focus on earlier-stage, drug-discovery bioanalytical services, which evaluate how a potential new medicine is absorbed and metabolized in experimental models. Many of the activities performed at the lab are required for the preparation of a molecule’s entry into human testing. Indiana Economic Development Corp. offered Advion up to $650,000 in performance-based tax credits and up to $30,000 in training grants based on the company's job-creation plans. Develop Indy will provide additional training funding and support property-tax abatement from the city of Indianapolis.

Hall, Render, Killian, Heath & Lyman added 24 attorneys last year as the health reform law generated a wave of legal work for its clients. Of those new hires, four were added to Hall Render’s headquarters office in Indianapolis, with the rest spread among the firm’s offices in Milwaukee, Louisville and Troy, Mich. Hall Render already had the second-most health care attorneys of any firm in the nation, according to a ranking published in June 2010 by Modern Healthcare magazine. Hall Render now has more than 150 attorneys who are members of the American Health Lawyers Association. The firm with the most health attorneys last year was Atlanta-based King & Spalding, with 229.

Ride along on a bike commute from Carmel to downtown Indy

March 2, 2011

IBJ reporter Gabrielle Poshadlo follows Don Jarrels on his daily jaunt downtown. Bonus video: A look inside Eli Lilly and Co.'s bike-to-work program.

Lilly’s Bydureon falls short of competitor in study

March 3, 2011

Bydureon, the diabetes drug being developed by Amylin Pharmaceuticals Inc., Eli Lilly and Co. and Alkermes Inc., didn’t control the disease better than Novo Nordisk A/S’s Victoza in a study.

Who’s Who in Hospitality – 2011

March 3, 2011

Every business sector has influential players, whether they are in the public eye or wield their influence behind the scenes.

MAURER: Conner Prairie’s allure keeps growing

March 3, 2011

Conner Prairie, an outdoor immersion history museum, offers modern-day time travelers an opportunity to experience long-ago life on the prairie at the Conner residence in what is now Fishers.

Convention to cancel if immigration bill passes

March 5, 2011

An Arizona-style proposal to crack down on illegal immigration has sparked protests from convention groups who say they'll avoid Indianapolis if the measure becomes law.

Three local companies make most-admired list

March 7, 2011

Simon Property Group Inc., WellPoint Inc. and Brightpoint Inc. of Indianapolis, and Columbus-based Cummins Inc. made Fortune's annual list of 350 companies, released Monday.

Others states’ fights bring focus to Gov. Daniels

March 8, 2011

Gov. Mitch Daniels has spent years talking about issues that typically make voters' eyes glaze over: Cutting spending. Balancing budgets. Shrinking government. The priorities haven't changed much in Daniels' six years as governor. But suddenly voters are paying attention.

Lilly suffers another bruise from Novo

March 8, 2011

The failure of its drug Bydureon to match the performance of Novo’s Victoza trims but doesn’t kill sales prospects for the highly touted diabetes drug.

Company news

March 8, 2011

Eli Lilly and Co.’s chief of neuroscience research, who announced his departure last month, was actually poached from Lilly by New Jersey-based Johnson & Johnson, according to the Wall Street Journal. Dr. David Bredt, who had been Indianapolis-based Lilly’s vice president of neuroscience discovery research and clinical investigation, started at Johnson on Feb. 28. Bredt came to Lilly in 2004 from the University of California at San Francisco Medical School, leading the company’s crucial Alzheimer’s research. He is the second top-level executive Lilly has lost this year. In January, John Johnson, the company's chief of oncology, resigned to become CEO at New Jersey-based Savient Pharmaceuticals Inc.

A life sciences networking group that got started in Philadelphia is now starting a chapter in Indianapolis. Pharma Thursday tries to connect professionals in the drug, device, diagnostic and biotech industries—regardless of which company they work for—as well as academic researchers. The first Indianapolis event takes place April 21 at 6 p.m. at Rock Bottom Brewery downtown. Pharma Thursdays started in November 2008 and reached 1,000 participants in Philadelphia in September 2010. The group also has chapters in Princeton, N.J., New York City and South Florida.

Lafayette-based Subaru of Indiana Automotive is the latest Hoosier employer to add an on-site health clinic, breaking ground on the facility last week. Managed by Florida-based WeCare TLC, the center will provide care to Subaru workers, retirees and dependents, once it opens this summer. Tom Easterday, Subaru of Indiana’s executive vice president, said the on-site clinic should help reduce employees’ health care costs and give them added care to improve their overall health.

In the latest acquisition of physicians by a local hospital system, Franciscan St. Francis Health has acquired Indy Southside Surgical, adding five general surgeons to its St. Francis Medical Group stable of physicians. Indy Southside Surgical had been affiliated with the St. Francis hospital system since 1989. The practice, which has offices in Indianapolis and Mooresville, includes Dr. David Mandelbaum, Dr. Jonathan Mandelbaum, Dr. Donald King, Dr. Matthew Libke and Dr. Mark Edwards. All earned their medical degrees at the Indiana University School of Medicine.

Lilly confident of FDA approval for Amyvid, Lechleiter says

March 9, 2011

Eli Lilly and Co. CEO John Lechleiter said he’s confident of gaining U.S. regulatory approval for a drug to help identify plaque in the brain associated with Alzheimer’s disease.

Indianapolis’ Christ Church Cathedral supports rebuilding of cathedral in Haiti

March 10, 2011

The local church is joining Trinity Wall Street Church in New York in donating to reconstruction of the building destroyed in the January 2010 earthquake.

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Articles

People

Company news

Eli Lilly neuroscience chief resigns

UPDATE: Lilly settles pollution suit for $337,500

UPDATE: Lilly settles pollution suit for $337,500

North of South development to start this summer

City-County Council OKs North of South project funding

UPDATE: Bioanalytical researcher opening lab in Indianapolis

Company news

Ride along on a bike commute from Carmel to downtown Indy

Lilly’s Bydureon falls short of competitor in study

Who’s Who in Hospitality – 2011

MAURER: Conner Prairie’s allure keeps growing

Convention to cancel if immigration bill passes

Three local companies make most-admired list

Others states’ fights bring focus to Gov. Daniels

Lilly suffers another bruise from Novo

Company news

Lilly confident of FDA approval for Amyvid, Lechleiter says

Indianapolis’ Christ Church Cathedral supports rebuilding of cathedral in Haiti