WellPoint shares sink after profit misses analyst estimates
WellPoint Inc. stock fell more than 12 percent Wednesday after the insurer’s quarterly earnings missed analyst estimates and it trimmed its full-year forecast.
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Lilly’s quarterly profit falls, but tops analyst expectations
Eli Lilly and Co. reported second-quarter profit that fell less than analysts had expected. The company raised its outlook for the rest of the year.
Potential Alzheimer’s drug fails first of four key trials
Bapineuzumab is in a race with a similar product from Indianapolis-based Eli Lilly and Co. to become the first therapy to target a cause for Alzheimer’s, rather than just its symptoms.
NCAA hammers Penn State with major sanctions
The NCAA on Monday morning slammed Penn State with an unprecedented series of penalties, including a $60 million fine and the loss of all coach Joe Paterno's victories from 1998-2011, in the wake of the Jerry Sandusky child sex abuse scandal.
Ex-Progress CEO says Duke tried to nix merger amid tensions
Bill Johnson, the man who was CEO of Duke Energy Corp. for eight hours after its $17.8 billion takeover of Progress Energy Inc., began testifying Thursday to the North Carolina Utilities Commission.
WellPoint agrees to pay for 3 children to get gene test
WellPoint Inc. said it will pay for DNA testing for three children to see if they have an inherited heart disease their father suffers from that often strikes without warning, reversing an earlier decision to deny coverage.
Competing Alzheimer’s treatments facing long odds
Johnson & Johnson, Pfizer Inc. and Elan Corp are racing Indianapolis-based Eli Lilly and Co. to market the first broadly available drug designed to target a cause of Alzheimer’s, rather than just its symptoms. Analysts say the potential drugs are long shots.
Shelbyville racino operator settles with ex-manager Cordish
The operator of Indiana Grand Casino and Indiana Downs horseracing track in Shelbyville has reached a $3.5 million settlement with the property’s former manager, The Cordish Co., that helps pave the way for its reorganization.
Rogers stays in charge at Duke Energy after CEO resigns
Duke Energy Corp. on Tuesday unexpectedly announced the resignation of Bill Johnson, previously named to be the CEO after its $17.8 billion takeover of Progress Energy Inc. James Rogers has been named CEO of the merged companies effective immediately.
Bristol-Myers to buy former Lilly partner Amylin for $5.3B
Bristol-Myers Squibb Co. has agreed to pay $5.3 billion to acquire former Eli Lilly and Co. partner Amylin Pharmaceuticals Inc., a maker of diabetes therapies. The deal is valued at about $7 billion, which includes Amylin’s debt and a payment to Eli Lilly and Co. of about $1.7 billion.
Abound failure raises questions anew about Obama policies
The failure of a second solar manufacturer that received loan guarantees from the U.S. Energy Department adds to pressure on President Barack Obama to justify incentives for the clean-energy industry that’s being undercut by Chinese competition.
U.S. health-care overhaul upheld by Supreme Court
The U.S. Supreme Court has upheld the core of President Barack Obama’s health-care overhaul, preserving most of a law that would expand insurance to millions of people and transform an industry that makes up 18 percent of the nation’s economy.
Heat wave wilting corn supplies, boosting prices
Corn supplies in the United States, the world’s biggest exporter, are declining at the fastest pace since 1996 just as a Midwest heat wave damages the world’s largest harvest for a third consecutive year.
Supreme Court to review rules for supervisor in job-bias suits
The U.S. Supreme Court will settle a dispute about who can be considered a workplace supervisor for purposes of a federal job-discrimination lawsuit.
Shelbyville casino could exit bankruptcy in August
A judge on Thursday approved procedures for the potential sale of the property. Bids must be accepted by July 20, and an auction will be conducted on July 31.
WellPoint lowers earnings forecast after $90M legal bill
Indianapolis-based WellPoint Inc. said it is lowering its profit forecast for the year by 3 percent after reaching a $90 million settlement in a class-action lawsuit.
Web domain requests include .Cialis, .Walmart
Indianapolis-based Eli Lilly and Co. and other corporate heavyweights are applying for Web suffixes including .cialis, .walmart and .jpmorgan under a program to expand the number of Internet domain names beyond .com.
Simon Property’s revolving loan signals overseas deals
Simon Property Group Inc., the world’s largest real estate investment trust, has increased its firepower for potential global expansion with a $2 billion revolving line of credit in six currencies.
U.S. retail chains spending billions in bet on growth
For all the concern that the U.S. economy may be slowing, retailers from Express Inc. to Indianapolis-based Finish Line Inc. are poised to spend the most on capital improvements since the recession.
Rolls-Royce must face whistle-blowers’ lawsuit
Rolls-Royce Corp. lost a bid Monday for dismissal of a whistle-blower lawsuit pressed by two former quality-control officers claiming the company cheated the United States by failing to report defense-contract product defects.