Late surge gives stocks largest advance in two years
U.S. stocks on Tuesday rallied after the Federal Reserve said it was prepared to use a range of tools to bolster the economy.
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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.
Goldsmith stepping down as New York deputy mayor
New York City Deputy Mayor Stephen Goldsmith, the former Indianapolis mayor who joined Mayor Michael Bloomberg’s administration last year, has resigned to pursue a job financing infrastructure development.
Duke turns second-quarter profit on higher revenue
Duke Energy Corp., which is buying Progress Energy Inc. to become the largest U.S. utility owner, on Tuesday reported a second-quarter profit after a year-ago loss.
Daniels, at peace with presidential decision, running out clock
Indiana’s Mitch Daniels has gone from considering a run for president to finishing out his second and last term as governor.
Lilly wins appeals court ruling in Strattera patent case
The U.S. Court of Appeals for the Federal Circuit in Washington, D.C., overturned Friday a judge’s decision that Lilly’s patent on attention-deficit treatment Strattera was invalid.
Dynasty trusts let wealthy escape estate, gift taxes forever
Carmel financial executive among those who plan to shield millions of dollars in a dynasty trust, so it can be passed on to multiple generations of descendants while paying as little in taxes as possible.
Simon Property results improve as U.S. retail sales advance
Indianapolis-based Simon Property Group Inc. said funds from operations rose 20 percent in the second quarter as rents and occupancies increased. The company raised its forecast for the year.
Ball State outsources management of $160M endowment
Wall Street's Perella Weinberg Partners LP took over at the beginning of July.
Pfizer won’t break up animal unit for potential Lilly bid
Pfizer Inc., the world’s biggest drugmaker, said it isn’t interested in breaking up its animal health unit after Indianapolis-based Eli Lilly and Co. expressed interest in buying some of its products.
Borders liquidation another blow to retail real estate
Borders Group Inc.’s proposed liquidation will increase available U.S. retail space by about 6.3 million square feet as the industry struggles with near-record vacancy rates and stagnant rents.
Express Scripts to buy Medco for $29.1B in cash, stock
Express Scripts Inc. agreed to buy Medco Health Solutions Inc. for $29.1 billion to become the largest pharmacy-benefits manager in the United States. Both have central Indiana operations.
Lilly: Alzheimer’s patients on failed drug didn’t improve
Eli Lilly and Co. said patients with Alzheimer’s disease whose conditions worsened upon taking the experimental drug semagacestat didn’t improve after dosing was halted.
Not-for-profits vying with WellPoint may get $3.8B in loans
Not-for-profits that compete with insurers such as WellPoint Inc. are eligible for $3.8 billion in U.S. financing under the health law, and the government expects more than a third of the loans not to be repaid.
FDA says potential diabetes drug may cause cancer
Dapagliflozin would be the first in a new class of diabetes treatments called SGLT2-inhibitors that work by letting patients excrete excess blood sugar in their urine. Indianapolis-based Eli Lilly and Co. is among several companies pursuing similar drugs.
Lechleiter: German drug pricing creates ‘uncertainty’ for Lilly
Eli Lilly & Co. CEO John C. Lechleiter said Germany’s overhaul of drug pricing lacked transparency and the new policy creates “uncertainty” for the company’s business planning.
Indiana toll road came up $209M short in 2010
Now five years old, the Indiana Toll Road deal has yet to turn a profit, or break even, for its two overseas investors. The $3.8 billion contract, however, has been a bargain for the taxpayers of Indiana.
Lilly loses bid to end revived Zyprexa U.K. patent case
The High Court in London on Tuesday denied Lilly’s request for a judgment without trial against Neopharma Ltd., the closely held company that has European marketing rights for the generic version of the drug known chemically as olanzapine.
Lilly asks judge to reject U.K. Zyprexa case
Eli Lilly and Co., the Indianapolis-based drugmaker whose best-selling schizophrenia medicine Zyprexa survived a patent challenge in Britain two years ago, has asked a United Kingdom judge to reject a parallel lawsuit by a generic drug company.
Lilly plans 10 drugs in final-stage trials by year’s end
Lilly has 33 drugs in the second and third stages of clinical trials, including medicines for cancer, diabetes and Alzheimer’s disease, up from seven in 2005, the Indianapolis-based company said Thursday.