Indiana firms lose ground on Fortune 500 list
Five of the six Hoosier firms that appear in the 2013 rankings slipped from their positions in last year’s list of the largest U.S. companies.
Health Care & Insurance
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Lilly CEO to step down temporarily due to surgery
John Lechleiter has been suffering from a dilated aorta, Eli Lilly and Co. said Monday. Current CFO Derica Rice will take his place until later this summer.
Biosciences institute aims for $300M endowment
The effort to launch the Indiana Biosciences Research Institute got $25 million from the Legislature, but the life sciences institutions backing the effort have set their funding sights much higher.
Lilly’s sales-force restructuring to affect 1,600-plus
Lilly will eliminate 1,624 positions from its U.S. sales force in July, according to a notice the company made to state officials. But some of those workers may be rehired by the firm.
Lilly taking hard look at Pfizer’s new Viagra strategy
Major drugmakers, including Indianapolis-based Eli Lilly and Co., are closely watching Pfizer Inc.’s plan to sell Viagra directly to consumers. The bold move blows up the drug industry’s distribution model.
New seed fund aims to make Indiana a hotbed for digital health startups
Infuse Accelerator hopes to make early-stage investments in 12 to 15 companies a year.
Investment gains mask slowdown for insurer
The bull market boosted first-quarter profit at Baldwin & Lyons Inc. to a record high, even though the property and casualty insurer’s core business lost ground.
Medicaid expansion in Pence’s hands after session
The question of whether Indiana will expand Medicaid is now back in Gov. Mike Pence's hands, after lawmakers wrapped up their session without mandating he expand coverage under the federal health care law or suggesting the route he should take.
Lawmakers pass Medicaid ball back to Pence
After a four-month debate, the Legislature ended pretty much where it started on a potential expansion of Medicaid: Lawmakers are letting Gov. Mike Pence go one-on-one with President Obama to see what kind of deal he can strike.
Obamacare exchanges could zap WellPoint profits
According to one estimate, the Indianapolis-based health insurer will shed $400 million in pre-tax profits by 2017.
Anti-smoking officials say Indiana funding cuts hurt
A decision to cut state funding by 38 percent for programs that help people stop smoking and try to prevent others from starting worries those behind the state's tobacco cessation efforts.
Lilly suing J&J for patent rights in Alzheimer’s drug race
Eli Lilly and Co. is seeking to revoke a patent held by a Johnson & Johnson unit, arguing at a London court it might delay availability of a potential treatment for Alzheimer’s disease.
CNO sees smaller profit after paying off debt
CNO Financial Group Inc. posted much lower earnings in the first quarter after suffering a $57.2 million loss in the period on the extinguishment of debt.
WellPoint CEO: Acquisitions of hospitals, doctors unlikely
Joe Swedish, who took the helm of the Indianapolis-based health insurer a month ago, threw cold-water Wednesday on widespread speculation that he will lead the company through a wave of buying hospitals and medical practices.
Eli Lilly’s profit shoots up despite lackluster sales
The Indianapolis pharmaceutical company left its full-year profit forecast unchanged despite a spike in first-quarter earnings. Revenue fell short of analyst expectations.
WellPoint raises profit forecast after solid first quarter
The Indianapolis-based health insurer easily beat Wall Street’s expectations for earnings in the first quarter and revenue rose 15 percent.
Nora pharmacy recalls compounded drugs
A pharmacy that makes specialty medications is recalling nearly 100 compounded drugs after federal regulators found potential safety problems during an inspection.
Mercer courts employers with private exchange
Mercer Marketplace will offer health coverage from four companies—Aetna Inc., Cigna Corp., UnitedHealthcare and Anthem Blue Cross and Blue Shield.
Lilly on the rise as investors run back to pharma stocks
Investors are gaining confidence in the ability of major drugmakers, including Eli Lilly and Co., to improve their pipelines of new products. The big pharma firms begin to report first-quarter earnings this week.
Investors await progress report from WellPoint
Many investors expect the health care overhaul’s coverage expansions to affect WellPoint more than other insurers.