Simon Property results improve as store rents climb
Simon Property Group Inc., the largest U.S. shopping-mall owner, said funds from operations rose 75 percent in the first quarter as retail sales climbed.
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KAR Auction plans to refinance with $1.5B term loan
KAR Auction Services Inc., a provider of vehicle-auction services, is seeking to refinance existing debt with a $1.5 billion senior secured term loan and a $250 million senior secured revolving credit facility.
Zimmer, peer sued over arthritic-knee treatments
Genzyme Corp., the drugmaker bought by Sanofi-Aventis SA this month, sued Zimmer Holdings Inc. and Anika Therapeutics Inc. alleging the companies’ treatments for arthritic knee pain infringe a patent.
Lilly’s Bydureon wins backing of European drug panel
The drug awaits final action by the European Commission, which has the authority to approve medicines for the European Union. The Commission usually makes a decision on CHMP recommendations within two to three months.
Butler’s Mack to test NBA waters without agent
Butler University junior guard Shelvin Mack will declare for the NBA draft, but not hire an agent, keeping his college eligibility as he considers his options.
Simon CEO compensation jumps to $24.6 million
Simon Property Group Inc.’s board is working on a long-term employment agreement with Chairman and CEO David Simon, whose compensation rose more than fivefold last year.
Colleges spend big, lose big on women’s basketball
Across the U.S., the most popular women’s college sport is in the red. Women’s basketball at the 53 public schools in the six largest conferences recorded operating losses last fiscal year of $109.7 million, while the men’s teams reported operating profits of $240 million.
Pentagon issues 90-day stop-work order on GE-Rolls engine
The U.S. Defense Department on Thursday directed General Electric Co. and Rolls-Royce Group Plc to halt work on a second engine for the F-35 Joint Strike Fighter until there is more explicit direction in the fiscal 2012 budget.
Regulators delay approval of Lilly’s Alzheimer’s screen
The Food and Drug Administration said Lilly needs to create a training program to ensure brain scans are interpreted properly.
Trade agency to probe Lilly’s infringement claim
Eli Lilly and Co.’s patent-infringement claim over Hospira Inc.’s generic version of the cancer treatment Gemzar will be investigated by a U.S. trade agency with the power to block imports of the copycat drug.
Lilly confident of FDA approval for Amyvid, Lechleiter says
Eli Lilly and Co. CEO John Lechleiter said he’s confident of gaining U.S. regulatory approval for a drug to help identify plaque in the brain associated with Alzheimer’s disease.
Lilly’s Bydureon falls short of competitor in study
Bydureon, the diabetes drug being developed by Amylin Pharmaceuticals Inc., Eli Lilly and Co. and Alkermes Inc., didn’t control the disease better than Novo Nordisk A/S’s Victoza in a study.
Protest turns to camp for border-crossing Indiana Democrats
Labor unrest and proximity have made the Land of Lincoln the haven of choice for out-of-state lawmakers looking to block Republican-backed bills.
Truck stocks signal economic growth
Companies that act as brokers for trucking services are gaining favor with investors as the 20-month-old rebound shifts into a new phase that’s less dependent on inventory restocking.
Court OKs reorganization plan for Hoosier Park owner
Hoosier Park Racing & Casino owner Centaur LLC last week won court approval of its plan to cut debt by about $636 million and exit bankruptcy.
Want to confess your sins? There’s an app for that
A South Bend firm has a bishop’s go-ahead to publish a $1.99 iPhone application to help Catholics through the process of confession.
Cancer drugmaker Endocyte raises $75 million in IPO
Indiana-based Endocyte Inc., a developer of drugs for ovarian and lung tumors, raised $75 million in its initial public offering after cutting the price twice this week for a total reduction of as much as 60 percent.
Report: Gifts to universities flat despite market recovery
College fundraising was flat during the 2010 fiscal year as a recovering stock market failed to instill donors with confidence. But Indiana University bucked the trend.
For-profit colleges make costly loans, report says
Companies including ITT Educational Services Inc., DeVry Inc and Career Education Corp. are making loans with “high costs” and “predatory terms,” the group said.
Execs from WellPoint, peers meet to hone health-law lobby
Top executives from WellPoint Inc. and UnitedHealth Group Inc. are meeting almost monthly with their counterparts from Aetna Inc., Cigna Corp. and Humana Inc. in an informal lobbying alliance aimed at blunting parts of the health-care law, say sources with knowledge of the sessions.