Developer plans $15.7M senior-living center on east side
The city of Indianapolis approved the project after accepting Mainstreet Property Group’s offer to purchase the property at 16th Street and Arlington Avenue for $912,500.
Health Care & Insurance
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Indiana measles outbreak illustrates disease risk
Indiana is battling its second measles outbreak in two years, even though its vaccination rate exceeds the national average. Health officials say the cases, traced to a Super Bowl event, illustrate just how vulnerable the public is to exposure from sources at home and abroad.
Ex-workers balk at SynCare bankruptcy
Disease management company’s demise in August pushed its CEO Stephanie DeKemper into personal bankruptcy in late December and the company itself will file its own bankruptcy case as early as this week.
WellPoint fires exec after Medicare woes
WellPoint Inc. finally canned the head of its consumer business after a string of disappointing results, and the move hasn’t further spooked the company’s jittery investors. Although that’s not saying much.
BioCrossroads has stoked state’s life sciences industry, but challenges remain
In the 10 years BioCrossroads has been promoting life sciences in Indiana, the effort has netted more than 330 new companies, an infusion of more than $330 million in venture capital, a tripling of exports, and a growing number of mentions in national reports on life sciences.
Disappointing quarter puts WellPoint brass on hot seat
Analysts say the company has struggled to generate the consistent earnings that rivals have, in part because of mispricing of its Medicare Advantage senior coverage.
Lawsuit filed over denial of senior’s home care
A Carmel-based health insurer once owned by Conseco Inc. is being sued for refusing to pay claims for in-home care submitted by California senior citizens.
Roche sales rise 4 percent in 2011
Roche Diagnostics Corp.’s North American business, which is headquartered in Indianapolis, posted a 4-percent boost in sales last year on the strength of its fluid analyzer business unit, even though its diabetes sales fell.
Health care VC hits new Indiana low in 2011
Indiana companies landed just $14.1 million in venture funding last year, the lowest amount of capital flowing to the state’s health care sector since BioEnterprises began tracking such deals in 2005.
Drugmakers singing same song: 2012 will be tough
For drugmakers, the golden era of the 1990s and early part of the last decade, when they seemed to effortlessly churn out new multibillion-dollar pills for the masses along with double-digit quarterly profit increases, is not even in the rearview mirror any more.
Baldwin & Lyons ends tough year with quarterly profit
Indianapolis-based Baldwin & Lyons Inc. turned a profit in the fourth quarter, but it wasn’t enough to erase a dismal 2011 plagued by catastrophic losses.
Dow Agro posts record fourth quarter profit
The Indianapolis-based unit of Dow Chemical Co. saw earnings grow to $142 million, a fourth-quarter record and double the $72 million reported for the 2010 period.
Lilly eying deal with Turkish drug company
Eli Lilly and Co. is among about a half-dozen companies interested in buying a stake in Mustafa Nevzat Ilac Sanayii AS in a deal that may value the Turkish drugmaker at $1 billion, sources say.
Community agrees to absorb Howard Regional
Kokomo’s Howard Regional Health System has signed a letter of intent to join the Community Health Network less than four months after it broke off a merger deal with Indiana University Health.
Lilly’s quarterly profit tumbles, but tops Wall Street estimates
Patent expirations on Gemzar and Zyprexa contributed to the 27-percent earnings decline, but CEO John Lechleiter touted better-than-expected sales of other products.
Symmetry Ex-CEO Moore to return $450,000 in clawback suit
Symmetry Medical Inc.’s former CEO will return $450,000 in pay and stock proceeds to resolve U.S. Securities and Exchange Commission claims that he profited from accounting fraud by a United Kingdom unit.
Purdue hopes center simplifies commercialization
Purdue University’s new Innovation and Commercialization Center is supposed to be a one-stop shop for professors to get help developing their research into products and for outside investors to find out what research is taking place there.
Gallagher sees more broker mergers coming
The Carmel office of Arthur J. Gallagher & Co. just made its sixth acquisition in five years, and it expects looming changes to tax and health laws to produce even more chances to snap up benefits brokers this year.
Lilly’s ex-partner wins FDA approval for diabetes drug
Amylin Pharmaceuticals Inc. and Alkermes Plc have gained U.S. clearance for Bydureon, a once-weekly diabetes shot. Eli Lilly and Co. co-developed the drug, but ended its partnership with Amylin last year.
Indiana House backs break for bars on smoking ban
The Indiana House has added an 18-month exemption for bars to a bill calling for a broad statewide smoking ban.