Takeda, Lilly win 99-percent cut in Actos damages award
Judge Rebecca Doherty in Lafayette, Louisiana, said the jury’s decision to order Takeda to pay $6 billion and Lilly $3 billion was excessive and should be reduced to a total of $36.8 million.
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Humane Society takes Steak n Shake fight to shareholders
The Humane Society has set its sights on Biglari Holdings, the firm that owns Indianapolis-based Steak n Shake, saying it has ignored requests to adopt animal welfare methods like its competitors.
PGA leader’s ouster shows quick reaction to insensitive remarks
Ousted PGA President Ted Bishop became the latest sports exec punished for making insensitive comments, reflecting a growing effort by sports bodies to react decisively on controversial statements.
Simon CEO’s bonus reversal still triggers investor suit
Seeking to avoid investor litigation, Simon Property this year eliminated a $120 million stock award to CEO David Simon in favor of a performance-based bonus. A retirement fund isn’t satisfied.
Rise in home prices in U.S. beats estimates
U.S. home prices rose more than economists estimated in August as employment growth fueled demand for housing.
Fading casino revenue has Indiana city selling debt
After decades of declining population and shifting economic fortunes, the city of Hammond in northwest Indiana is betting that water from Lake Michigan will refresh its finances.
NCAA third-quarter lobbying tops all of 2013 amid reform push
The National Collegiate Athletic Association spent more on congressional lobbying from July through September than it did in all of 2013 as it continued to fight lawsuits challenging its structure.
Dow Agro’s Enlist weed killer cleared by EPA
Enlist Duo can be used in six states, with approval pending in another 10, the Environmental Protection Agency said Wednesday. Dow is counting on the system to help double earnings at Dow AgroSciences in five to seven years.
Lilly partner ordered to pay more than $2M to ex-Actos user
Takeda Pharmaceutical Co. was ordered by a jury to pay more than $2 million to a woman who claimed the company’s Actos diabetes medicine caused her bladder cancer, in the latest of thousands of lawsuits involving the drug to go to trial.
Obama: Workers not winning as productivity fuels growth
During his visit Friday to Indiana, President Barack Obama said that while the economic recovery is lowering the jobless rate, the economic recovery is helping the wealthy and not middle-class workers.
Lilly partner accused of putting Actos profit ahead of safety
Executives knew by 2004 that studies found links between Actos and cancer, and didn’t issue a warning until seven years later to protect billions of dollars in sales of the drug, attorney Michael Miller told a state-court jury in Philadelphia on Thursday.
Lilly to end development of lupus drug after trial failure
Tabalumab was expected to generate about $250 million to $300 million a year in sales in several years.
Shopping malls brace for wave of consolidation
There’s a hunger in the retail industry for lower-tier, “B” shopping centers, seen as a bargain by potential owners. A $4.3 billion deal in the works involving a Simon Property Group spinoff could trigger more transactions.
U.S. judge blocks Obamacare tax rule for non-exchange states
An Oklahoma federal judge dealt a blow to President Barack Obama’s health-care law, invalidating IRS rules aimed at making policies affordable for consumers around the country.
NiSource to split into two publicly traded companies
Merrillville-based NiSource will continue to provide natural gas and electricity to more than 3 million customers, while Houston-based Columbia Pipeline Group will own 15,000 miles of natural gas transmission pipelines.
Trucking companies raise wages as driver shortage grows
Average driver wages may rise as much as 6 percent in 2014, said Kenny Vieth, president of Columbus, Indiana-based Americas Commercial Transportation Research Co.
Indiana Toll Road operator set for short bankruptcy
The operator of the Indiana Toll Road, which paid $3.8 billion for a 75-year operating lease, won approval Tuesday of a schedule paving the way to exit bankruptcy court protection in just more than a month.
ITT shares plunge 35 percent after SEC threatens action
ITT Educational Services Inc. dodged a bullet from the U.S. Department of Education, according to a securities filing issued Friday morning, but now faces a new threat: a potential enforcement action from the U.S. Securities & Exchange Commission.
Obamacare enrollment at 7.3 million people, official says
That’s a 9-percent reduction from the government’s May estimate of 8 million, which reflected only how many people had signed up, not how many had paid and were enrolled in the coverage.
Testosterone drugs need study on heart risks, FDA panel says
Drugmakers, including Eli Lilly and Co., should conduct new trials to assess the heart risks of testosterone therapies used by millions of men last year, advisers to U.S. regulators said.