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Ex-Lilly executives open ‘trials’ clinic: Centurion expects high demand from drug firms

A new clinic that is on the cusp of conducting human trials in Indianapolis could distinguish itself as a key player in drug development, not only within the state, but nationally as well. Centurion Clinical Research LLC serves pharmaceutical companies and medical-device makers that need to test their products before they can be approved for widespread use. That first phase, in which healthy people are paid to participate in the overnight studies, is critical in determining the safety and success…

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VOICES FROM THE INDUSTRY: Worksite wellness encourages steps to healthier firm

Over the past several years, employers have seen a movement from traditional PPO health plans to consumer-driven health plans, by implementing qualified high-deductible plans such as health savings accounts. This shift has been viewed by most to have initially lowered overall employer and employee cost, but more importantly, it has gotten the employee more involved in their health care choices. Fortunately, consumer-driven health care plans are not the only answer in reducing employer costs. According to the Towers Perrin 2008…

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VOICES FROM THE INDUSTRY: Taking a few minutes to take control of your health care

In recent months, all of us have been affected to some extent by economic uncertainty. At a time like this, we need to make well-informed decisions on how we spend our money, now and in the future. Health care spending is one area where people are looking more than ever to get the most value in return for their investment. The rising cost of health care should encourage everyone to explore their health benefit options. But despite rough economic times,…

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More small businesses allowed to jump in pools: Law lets employers join together for cheaper rates

Small businesses in Indiana stung by rising health care costs now can band together to broker better deals from insurance providers. The rule from the Indiana Department of Insurance took effect in late August and is the final piece of a 2007 health care expansion state lawmakers financed with a 44-cent increase in the cigarette tax. The pooling program is open to businesses with two to 50 employees and is meant to give them strength in numbers so, in essence,…

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NOTIONS: The perils and pitfalls of pulling the party lever

My sister-in-law is a deputy county prosecutor in Michigan. By all accounts, she’s good at her job. But that may not matter. You see, my sisterin-law’s boss is up for re-election next month. And because his job is on the line, so is hers. So in addition to her day job, my sister-in-law has been working nights and weekends on the campaign. My sister-in-law is passionate about putting away bad guys. She’d like to keep doing it. But it’s not…

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IP law illuminates growing field for women: Increase mirrors rising number of Internet companies and inventions

But more than a century later, women are protecting more than their own assets-they’re increasingly looking out for the intellectual property of business owners large and small. One of the hottest practice groups within law firms today, intellectual property law falls into four basic areas: copyrights, trademarks, patents and publicity rights. With the exception of patent law, which requires a background in science or engineering, no specialized undergraduate degree is required. Gary Roberts, dean and the Gerald L. Bepko professor…

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Mild bump expected in benefits: Despite modest rise in premiums, employers look to pass on costs

Several industry surveys predict health insurance expenses will rise at a slower pace in 2009 than in previous years. Many employers, however, are passing the added burden on to workers. Raising deductibles, copayments or out-of-pocket spending limits are the most common ways companies plan to reduce their increases. The trend of passing more of the responsibility to employees has escalated the past five years, giving rise to cheaper alternatives such as consumer-directed health plans. “The tie that binds is that…

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Lawsuit raises questions about prison privatization: Complaint alleges abuse of mentally ill inmates

A newly filed federal lawsuit alleging widespread abuse of Indiana inmates raises questions about the state’s privatization of prison health care. The Indiana Protection and Advocacy Services Commission, a not-for-profit watchdog organization, sued the Indiana Department of Correction on Oct. 1, charging it regularly segregates mentally ill prisoners into isolation for 23 hours a day. According to the suit, the prisoners are punished by stripping away their clothes and being fed a diet consisting entirely of “nutraloaf,” described as “a…

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Firm off to a FAST start: Investors backing company’s kidney assessment technology

FAST Diagnostics quickly is becoming one of the more promising companies in Indiana University’s efforts to commercialize its discoveries. Incorporated in November 2006, it is developing a method to measure kidney function faster and more accurately than existing techniques can. While FAST represents speed, the name actually stands for functional assessment and surveillance technology. The fledgling firm so far has attracted more than $4 million from investors, including $2 million from the state’s 21st Century Fund. BioCrossroads, Rose Hulman Ventures…

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EDITORIAL: Signs of hope as many retreat: Some shrug off economic fears

Signs of hope as many retreat Some shrug off economic fears The front page of this week’s IBJ tells of companies that are in dire straits-or out of business-after banks, jittery about a financial collapse, called their loans or canceled their credit line. Stories like these put a local face on the economic crisis that has gripped the American psyche in the last two weeks unlike anything since the terrorist attacks of 9/11. Anyone who didn’t realize credit’s vital role…

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Arcadia banking on DailyMed: Company hopes product sales can help it escape debt, lift stock

When Arcadia Resources Inc. moved from Southfield, Mich., to Indianapolis last fall, the Indiana Economic Development Corp. crowed with pride. In exchange for incentives worth more than $6 million, the state had landed the headquarters of a publicly traded life sciences firm with more than 5,000 employees. Even better, the company was ready to launch an innovative new product that promises to improve home health care while simultaneously reducing its cost. A year has passed, but investors still aren’t as…

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VOICES FROM THE INDUSTRY: This Thanksgiving, start making plans for the future

Many of us will visit parents over Thanksgiving and the holiday might be just the time to have a hard-to-hold conversation about financial preparedness. While it can be a difficult conversation to have, its important for adult children to check in with aging parents to make sure they have a plan for retirement and estate needs. It is estimated that about 50 percent of American adults do not have a will, which can result in losing control of your financial…

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EDITORIAL: Waiting for fallout of Wall Street rout: More regulation in our future?

Waiting for fallout of Wall Street rout More regulation in our future? At IBJ deadline, Wall Street was suffering through one of the most tumultuous weeks in its history, and there was no end in sight to the worry consuming investors. The $85 billion Federal Reserve bailout of American International Group Inc. on Sept. 16 did little to shore up markets that had plunged the day before, after Lehman Brothers declared bankruptcy and Bank of America rescued Merrill Lynch. The…

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Tough economy touching all industries, but some are hurting more than others

Stock markets are falling, jobs are disappearing, and the outlook for the economy seems grim. Banks, real estate developers,
retailers and manufacturers are taking the worst hits, but all types of businesses in central Indiana are hurting. From health
care to technology, education to philanthropy, every industry is trying to take the setbacks in stride.

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Are WellPoint execs greedy?

Three activist groups dropped off a wallet and handbag crammed with play money at WellPointâ??s front door
this week to protest what the groups say are outrageous salaries pulled down by company executives.

The groups â?? Health Care for America Now,…

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Lilly Endowment crawls toward diversification goal: Bear market, low Lilly stock price slow selloff

Lilly Endowment Inc. is still on its journey to sell off $2 billion of its Eli Lilly and Co. shares. But after a slow start and a few stops for rest, it may take a little longer to get there than originally thought. The endowment, the single largest holder of Lilly stock, announced its plan to diversify its holdings back in July 2006. For nearly 70 years, the not-for-profit held its wealth almost exclusively in the pharmaceutical company’s stock. So…

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BEHIND THE NEWS: Cautious streak helps Duke weather tumultuous times

Duke Realty Corp. has stayed largely out of the headlines this year, which in an economy like this is a pretty good sign. Another Indianapolis developer, Lauth Property Group, has shed more than half its 450-person work force, and Premier Properties Inc.- perhaps the city’s most daring developer-lurched into bankruptcy court. Meanwhile, Duke, which specializes in suburban office and industrial development, keeps on chugging. To be sure, the company isn’t immune to broader economic slowdown. In April, it laid off…

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Benefits brokers dive deeper into wellness: Employers look to prevention to lower health costs

Gibson Insurance Group is the latest benefits broker to get more serious about wellness. The South Bend-based firm, which has an office in Indianapolis, has hired a dedicated wellness director to help its clients refine and assess their wellness programs for workers. Nicole Fallowfield, the former vice president of sales for Principal Wellness Co. in Indianapolis, will work out of Gibson’s downtown Indianapolis office but serve Gibson’s clients throughout Indiana. By hiring Fallowfield, Gibson joins a budding trend among brokers…

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Commentary: Indiana law chases away talent

The Wellness Community of Central Indiana was established in 1995 as a not-for-profit organization to provide free support, education and hope to individuals and families affected by cancer. At The Wellness Community, cancer patients can share experiences and lend one another encouragement informally or through programs facilitated by professional counselors. The Wellness Community also provides a haven to grieve together in those instances when cancer is the ultimate victor. Today, the folks at The Wellness Community are grieving over a…

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Experts: Building boom not over: Big projects wind down, but new ones fill pipeline

The completion of $2 billion in city construction projects has left a gaping hole in contractor job schedules-as wide as when the roof opens at Lucas Oil Stadium. Even so, industry leaders remain optimistic about staying busy despite the combination of a tepid economy and the end of a local boom that stretched the limits of the labor pool. The $1.1 billion airport midfield terminal project, the $715 million stadium and $150 million Central Library expansion helped to create so…

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