Lilly Endowment assets ebb in 2016 as it grants $452.8M
After several years in which the value of its assets swelled, philanthropic giant Lilly Endowment Inc. watched its coffers shrink 12.7 percent in 2016 from about $11.8 billion to $10.3 billion.
Health Care & Insurance
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Former IU Health CEO to join law firm’s consulting arm
Dan Evans, who for 13 years was president and CEO of Indiana University Health, has joined Faegre Baker Daniels Consulting as a senior director in its health and biosciences group.
Lilly hires ‘powerhouse’ D.C. lobbyist
Leigh Ann Pusey will join Eli Lilly and Co. next month as senior vice president for corporate affairs and communications.
Planned Parenthood challenging new Indiana abortion parental consent law
Planned Parenthood of Indiana and Kentucky has filed a lawsuit challenging portions of Senate Enrolled Act 404, which in part requires unemancipated minors to obtain consent from a parent or legal guardian before having an abortion.
OurHealth raises $37M, plans to hire 480 workers
The privately held company operates 32 clinics for employers in Indianapolis, Chicago, Nashville and other cities. The new funds will allow it to expand and invest in data, marketing and business development.
Verdict slip in meningitis outbreak trial creates confusion
People who lost loved ones in a fungal meningitis outbreak traced to tainted steroids were stunned when a pharmacy executive was acquitted of murder charges in 25 deaths. Indiana was hit hard by the outbreak in 2012.
Most Indianapolis 500 drivers insured against the unspeakable
At least half of the drivers in the Indianapolis 500 field get their life insurance from the same Indianapolis-based insurance agency.
CNO Financial CEO Bonach to retire at year’s end
The Carmel-based insurance holding company has selected its president, Gary Bhojwani, to succeed Ed Bonach, who has has held the top spot since 2011.
Progress on reducing U.S. uninsured rate comes to halt
Five years of progress reducing the number of Americans without health insurance has come to a halt. It will be watched closely as Republicans attempt to roll back the Affordable Care Act.
Jury acquits Indianapolis doctor charged in patients’ deaths
A jury acquitted Dr. John K. Sturman of reckless homicide and 16 counts of improperly prescribing drugs on Monday following a six-day trial.
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.
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.