Profit falls at Lilly but meets Wall Street expectations
The Indianapolis-based drugmaker earned $1.24 billion in the three months ended Sept. 30, down 5 percent from the same quarter a year ago, even as revenue surged 9 percent.
Life Science & Biotech
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Ex-Dow Agro scientist pleads guilty in espionage case
Kexue Huang faces up to 13 years in prison after pleading guilty Tuesday morning to sending trade secrets worth millions to China and Germany.
Cook Medical gets FDA panel’s backing for stent
The device would be the first drug-coated stent approved in the U.S. to treat peripheral vascular disease in the largest artery of the upper leg.
FDA: Cook Medical’s stent met efficacy, safety goals
Peripheral vascular devices, including stents, angioplasty balloons and synthetic grafts, generated $4.3 billion in global revenue last year and may earn $5.6 billion in 2014.
Biocrossroads lands $2.8 million Lilly Endowment grant
The advocate for the state’s life sciences industry has now pulled in more than $25 million from the endowment.
Cook family provides funding for Rose-Hulman bioscience lab
The $500,000 gift will help further a decade-long expansion of the school’s life sciences curriculum.
Federal judge nixes firm’s Bio Cremation lawsuit
A federal judge in Pittsburgh has thrown out a lawsuit filed by a Pittsburgh company that claimed its so-called "Bio Cremation" service — a flameless process to cremate remains — was being unfairly targeted by two Indiana competitors.
Lilly’s Alimta get favorable opinion for new use in Europe
If approved for continuation maintenance, Eli Lilly and Co.’s Alimta could be used for longer stretches in lung cancer patients, generating more revenue.
Ex-Dow Agro scientist makes plea in trade-secret case
A former Indiana scientist has agreed to plead guilty to charges of illegally sending trade secrets worth $300 million to China and Germany.
Roche hopes to prosper from austerity
Executives at Roche Diagnostics expect the wave of austerity measures being taken by western governments—including the United States—to as much as double its sales of fluid- and DNA-based tests in the next three years.
AIT’s Evans gave $48M to start Marian med school
Marian disclosed Evans’ 2010 donation Wednesday as it held a groundbreaking ceremony for its medical and nursing school building, which will be called the Michael A. Evans Center for Health Sciences.
Roche Diagnostics to get indirect boon from new test
New drug for metastatic melanoma packaged with genetic test should help Roche sell more of its cobas 4800 laboratory testing systems.
Glick support boosts IU eye research
A $10 million research endowment at the Eugene and Marilyn Glick Eye Institute has attracted seven new researchers to the Indiana University School of Medicine’s Ophthalmology Department.
Inventor on quest to bring medical device to market
Licensed practical nurse Nic Davis invented a device to kill and prevent the introduction of microorganisms that collect at catheter ports.
Health care VC slows in 2011
Four Hoosier companies attracted more than $10.5 million, down from 10 companies that attracted $18.5 million during the first half of 2010.
Zimmer playing hardball with plaintiffs’ lawyers
The Warsaw-based company has sued seven law firms this year and sent warning letters to at least three more, saying their ads and Internet postings distorted the safety record of its $1.8 billion-a-year knee business.
Medical implant maker plans move from northern Indiana
Rochester Medical Implants plans to move operations from Rochester to Noblesville in October. The company has 28 employees.
Packaging manufacturer plans to expand, add 80 jobs
Indianapolis-based DGP Intelsius LLC, a manufacturer and distributor of temperature-controlled packaging, announced on Tuesday morning that it plans to add 80 jobs by 2014 as part of an $870,000 expansion.
Eli Lilly’s Elanco unit blossoming at just the right time
An investment firm projects that the Elanco animal-health business will generate sales of nearly $2 billion by 2012 and surpass $3 billion by 2018.