Indianapolis development officials on Wednesday will weigh the 10-year requests from the pharmaceuticals giant related to a new manufacturing plant and improvements to existing operations downtown.
The new investment will bring the plant’s total price tag to $320 million as the pharmaceutical giant seeks to increase production of insulin and related products.
Fishers-based Nexxt Spine LLC, a manufacturer of spinal implants, is consolidating operations and moving its headquarters and manufacturing facility to Noblesville.
Shares of Zimmer Holdings Inc. have generated impressive returns of 23 percent in the past year and some 2013 product launches could juice those results even further. But the Warsaw-based maker of orthopedic implants is also the most-exposed company in its industry to two key elements of health care reform: the medical device tax and bundled payments.
Bloomington-based Cook Medical won approval for the first drug-coated stent for clogged leg arteries in the United States, which accounts for 40 percent of the soon-to-be $3 billion market.
About 100 workers will staff the new plant, which will be constructed by spring 2014 and ready for operations in 2015. But only “some” of that number will be new hires.
Pete Kissinger hopes Phlebotics will follow in the footsteps of another of his creations, Bioanalytical Systems Inc.
The amount of venture capital invested in medical-device and equipment companies nationally has declined each quarter this year, reaching levels not seen since 2004, according to data released Oct. 19 by the National Venture Capital Association and PricewaterhouseCoopers.
Bloomington-based Cook Medical announced a new division to capitalize on the growing market for minimally invasive procedures to fix problems in ears, noses and throats, as well as other maladies of the head and neck.
The city of Indianapolis granted preliminary approval for an eight-year tax abatement to Arcamed Inc., which plans to purchase $1.4 million in equipment to design and manufacture titanium and case-tray systems for surgical instruments.
The skies got a little brighter for the orthopedic industry on Friday after Warsaw-based Biomet Inc. reported strong quarterly sales growth of 3.4 percent. That news sparked a small surge in the stock prices of two other Warsaw-based orthopedics companies.
Republicans in the U.S. House joined with 37 Democrats to pass a bill repealing a medical-device tax, chipping away at the 2010 health-care law in a victory for companies including Indiana-based Zimmer Holdings Inc. and Boston Scientific Corp.
The U.S. Senate voted to let regulators collect on a $6.4 billion fee agreement struck with Indianapolis-based Eli Lilly and Co., Medtronic Inc. and other companies to fund reviews of new drugs and medical devices through 2017.
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.
U.S. medical device makers have spent the last year urging government officials to approve high-risk products faster, like their European counterparts. A scandal over leaking breast implants made in France, however, may make the argument more difficult.
Polymer Technology Systems said in 2007 that it would make a $3 million investment at its operation on Zionsville Road and create 110 jobs.
Roche Diagnostics will partner with a San Diego firm to incorporate its continuous glucose monitoring sensor with a wireless handheld device Roche is developing to help diabetics test their blood sugar and track their glucose levels throughout the day.
The number of payments in excess of $1 million didn’t change substantially from year to year, but orthopedic companies sharply cut their fees to surgeons who received the smallest amounts.
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.
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.
