IU invests $500,000 in Richard DiMarchi’s latest biotech startup
The new venture, called MBX Biosciences Inc., aims to develop therapeutics to treat rare endocrine disorders. The company has already raised $2.5 million in funding.
Health Care Businesses
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As injuries mount, Methodist Sports Medicine expands to meet need
Founded in 1983, the practice has 28 physicians and annual revenue of $35 million, and shows little sign of slowing.
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Promising Lilly cancer drug fails in disappointing trial, shares fall 3 percent
Analysts had predicted that Lartruvo could eventually ring up as much as $600 million in annual sales. Eli Lilly and Co. now says it will suspend promotion of the drug.
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Addiction-treatment centers pop up all over
Many of the providers are not traditional health systems, but rather small, for-profit startups attracted by a soaring demand for recovery services.
Trump kills key drug price proposal he once embraced
The drug rebate rule would have ended a widespread practice in which drugmakers give rebates to insurance middlemen in government programs such as Medicare. The idea was to channel that money to consumers instead.
Lilly losing two senior executives, including Bio-Medicines chief
Lilly shares dropped 4.6 percent in early trading after the company said Christi Shaw was leaving and Mike Harrington planned to retire.
Startup claims breakthrough in gauging pain
MindX founders think they’ve found a scientific way to measure pain and other hard-to-quantify mental health conditions, such as suicide risk, depression and post-traumatic stress disorder.
Judge strikes down rule requiring drug ads to reveal prices
Responding to a lawsuit by Eli Lilly and two other companies, a federal judge Monday blocked a major White House initiative on prescription drug costs, saying the Trump administration lacked the legal authority to require drugmakers to disclose their prices in TV ads.
BioCrossroads chooses retired Lilly exec as new CEO
Patricia Martin, 58, former chief operating officer of Lilly’s diabetes division, will start her new job July 1, leading an organization that promotes and invests in the state’s life sciences sector.
Pfizer expanding in cancer with $10.6B deal for Array BioPharma
Array’s stock was already at a record before the deal announcement, following the company’s news last month of positive clinical trial results using Braftovi and Mektovi with Indianapolis-based Eli Lilly and Co.’s Erbitux.
Drugmakers sue Trump administration to halt advertising rule
Some of the biggest pharmaceutical companies, including Indianapolis-based Eli Lilly and Co., sued the Trump administration to try and block a rule that would force them to put the price of their drugs in television advertisements.
Q&A with Tiffany Benjamin: Lilly’s efforts more than simply a day of service
“Our central focus as a company is always to make lives better. … It’s a value that is core to every single employee who works here. So if we can have programs that reinforce that we are a company that is focused on making lives better, then we are doing something that connects to our mission and reminds our employees what really matters to us as a company.”
Lilly pain drug wins approval to treat cluster headaches
It’s the second approved use for Emgality, which first won U.S. approval last fall to treat migraines. Analysts predict it could become a blockbuster.
China to audit 77 drugmakers, including Lilly, after $4.3B scandal
After one of its largest listed drug makers was found to have overstated its cash position by $4.3 billion, China is starting an audit of 77 major pharmaceutical companies.
Lilly begins selling half-price version of popular Humalog insulin
The fast-acting insulin, which diabetics inject shortly before each meal, is used by about 700,000 Americans.
Eli Lilly shares droop after drugmaker lowers full-year outlook
Indianapolis-based Lilly reported first quarter revenue of $5.09 billion, up 3% from a year ago but below analyst expectations of $5.2 billion. Sales of several of Lilly’s top drugs missed expectations.
Springbuk software release spurs double-digit growth
Local tech firm, Springbuk, has grown from 16 to 102 employees in a little more than two years. A recently released product upgrade the company is calling “a game changer” is spurring another round of serious growth.
Pharmacy owner found guilty of manufacturing over-potent drugs sold to hospitals
Paul Elmer, former owner and CEO of Pharmakon Pharmaceuticals in Noblesville, was convicted in federal court of nine counts of adulterating drugs and one count of conspiracy. He was acquitted of an additional count of obstruction of justice.
Group with consumer-friendly vibe pushes drugmakers’ message
As Congress and President Donald Trump's administration aim to lower prescription drug costs, outside groups like the Alliance for Patient Access are seeking to sway the outcome.
Lilly’s $7M tax-abatement request advanced by City-County Council panel
The proposed tax abatement is related to a $91 million investment the company is making in a building at the Lilly Technology Center on Kentucky Avenue.
IU Health says operations strong, but investment losses pull down earnings
The state’s largest health system said earnings from operations climbed 4 percent, but investment losses pulled down total earnings by 70 percent.
Lilly, other insulin makers must face price-gouging lawsuit, judge rules
The suit accuses the companies of raising insulin sticker prices by more than 150 percent over five years, forcing diabetics to forgo the drug, take less insulin than needed or use expired versions