Analysts struggled to predict Anthem-Cigna outcome (but don’t tell them that)
The proposed $48 billion merger of Anthem and Cigna kept Wall Street experts guessing for months.
Health Care & Insurance
Articles
Anthem abandons battle for Cigna after court deals blow to deal
Anthem says it is giving up on the $48 billion purchase in the wake of a Thursday court ruling giving Cigna the right to walk away. The Indianapolis-based insurer says Cigna is not entitled to collect a $1.85 billion breakup fee.
Lilly migraine drug provides relief in late-stage trials
Lilly is in a race with several pharmaceutical firms to develop migraine treatments using an approach known as anti-CGRP and that could create a multibillion-dollar market.
Cigna wins judge’s approval to walk away from Anthem merger
The decision makes it virtually impossible for Anthem to salvage the merger and means the insurer could be on the hook for $1.85 billion in breakup fees and $13 billion in damages to Cigna.
Doctor suspended over sex with patient unhappy with licensing board’s minutes
Dr. John Steenbergen admitted he had a sexual relationship with a patient for five years and performed an abortion on her, but said the licensing board unfairly characterized the matter.
Baldwin & Lyons sees lower profit despite premium growth
Carmel-based insurer Baldwin & Lyons Inc. wrote a record amount of premiums in its latest quarter, but overall profit dropped compared to the previous year.
Insurer Aetna decides to completely leave Obamacare markets
Aetna has said it expects to lose more than $200 million on individual health plans this year in the four states where it’s still selling Affordable Care Act plans.
Obamacare premiums rise as insurers fret over law’s shaky future
Health insurers are asking for sharp increases in the cost of their Obamacare plans next year. In the first states to make the latest rates public, premiums for Affordable Care Act plans will rise more than 20 percent on average.
Anthem asks judge to continue blocking Cigna’s merger exit
Judge Travis Laster said during a hearing Monday that it’s a “long shot” that Anthem can find a path to success after two federal courts found the $48 billion merger was crippled by antitrust problems.
Drug lobby mulling membership reductions amid price scrutiny
The lobby group, Pharmaceutical Research and Manufacturers of America—which counts Eli Lilly and Co. as a member—is proposing that to remain a member, companies will have to spend $200 million a year on research and development.
Carmel biotech firm lands $8M in venture capital, grant funds
Founded in 2006, Fast BioMedical Inc. plans to use the money to help advance clinical trials and hire additional workers. It develops technologies to measure blood volume and kidney function.
Anthem asks Supreme Court to review blocked Cigna deal
Health insurer Anthem Inc. is not ready to give up its $48 billion bid for rival Cigna and now hopes to find a favorable audience in the U.S. Supreme Court.
New Jersey firm acquires Carmel-based PolicyStat
PolicyStat LLC, an 11-year-old Carmel-based software-as-a-service company, has been acquired by Bridgewater, New Jersey-based iContracts Inc.
UPDATE: State Farm closures to affect 620 workers in Indy, West Lafayette
State Farm Mutual Automobile Insurance Co. said it plans to shut down 11 U.S. facilities, including its operations centers in Indianapolis and West Lafayette, displacing 620 people in Indiana and 4,200 workers overall.
Lilly executive Pescovitz leaving to become university president
Oakland University in suburban Detroit on Thursday announced that its board of trustees unanimously chose Ora Hirsch Pescovitz for the job after a search involving more than 60 candidates.
Life sciences firms see some fundraising success but need massive sums
Around Indiana, life sciences companies are searching high and low for venture capital to fund promising but expensive new products, which can take a decade or longer to develop.
Panel weighs in on 16 Tech, funding challenges and more
Here is a sampling of panelists’ comments at the April 28 Life Sciences Power Breakfast.
House approves GOP health bill, a step toward Obamacare repeal
The measure skirted through the House by a 217-213 vote, as all voting Democrats and a group of mostly moderate Republican holdouts voted no.
House pushing health care overhaul bill to showdown vote
Republicans began pushing their prized health care bill through the House on Thursday, as the GOP sought a victory for President Donald Trump six weeks after nearly leaving the measure for dead.
With Anthem-Cigna deal all but dead, merger speculation is back on
Analysts say either Anthem or Cigna could make a move on Humana, which specializes in the fast-growing business of selling private health plans for the elderly.