Zimmer shares hit 13-year high on Biomet deal
The deal will help Zimmer, a maker of artificial hips and knees, take on Johnson & Johnson, the No. 1 manufacturer in the now-growing $45 billion market.
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Zimmer buying Biomet in $13.3B deal between Hoosier firms
Orthopedic device maker Zimmer Holdings Inc. is buying privately-held competitor Biomet Inc. in a cash-and-stock deal between the Warsaw-based companies valued at about $13.35 billion.
Lilly’s quarterly profit meets analyst expectations
The drugmaker, which is weathering patent expirations, saw sales fall more slowly than expected for its antidepressant Cymbalta.
Lilly wins approval for potential blockbuster drug
The Indianapolis-based pharmaceutical maker gets a much-needed boost with FDA approval for gastric-cancer drug ramucirumab, which quickly could account for $1 billion in annual sales.
Calumet may cut debt ratio without lower borrowings, CFO says
Indianapolis-based Calumet Specialty Products Partners LP plans to lower its leverage by increasing earnings rather than cutting debt that is rising by 35.6 percent this month.
Subaru awaiting Toyota’s decision about output in Indiana
Subaru, which added more U.S. market share than any international carmaker last year, is pushing ahead with U.S. expansion plans as it awaits a Toyota’s decision on whether it will keep building Camrys at Subaru’s Indiana plant.
Insurer acquires Indy-based StreetLinks for $60 million
StreetLinks, which sells real estate appraisal management services and software, will retain its brand name and remain headquartered in Indianapolis, according to the statement.
Pence gaining heavyweight support for 2016 presidential bid
Republicans are searching for a candidate who can unite the party’s pro-business establishment with its small-government activists. Pence’s allies say the temperate-toned governor has a record that pleases both.
Emmis mag sues New York Times over editor hire
Texas Monthly, the award-winning magazine owned by Indianapolis-based Emmis Communications Corp., says the Times hired away its top editor to join the newspaper’s magazine division before his contract expired.
Trailer parks lure ex-traders eyeing double-wide returns
Former hedge-fund executives who left Wall Street are finding new ways to milk profits from old trailer parks, including one in Indianapolis.
WellPoint spending millions in California ballot battle
WellPoint Inc. is leading companies that have poured $13.4 million into defeating a ballot initiative that would give California regulators the power to reject increases in health policy premiums.
Indiana found most transparent in study of state data access
California, the U.S. state with the largest population and budget, offers the least website access to its government spending data, according to a new study. Indiana provided the most information.
Lilly ordered to pay $3 billion in Actos damages
Takeda Pharmaceutical Co. and Eli Lilly and Co. were ordered to pay a combined $9 billion after a federal court jury found they hid the cancer risks of their Actos diabetes medicine in the first U.S. trial of its kind.
Pfizer, Lilly drugs slow advanced breast cancer in studies
Pfizer Inc., Eli Lilly and Co. and Novartis AG have dug an idea out of the pharmaceutical dustbin to create new medicines that are showing blockbuster potential.
Big money under close scrutiny at NCAA Final Four
Kentucky’s coaching staff will reap an extra $736,000 if the team wins the NCAA basketball tournament. Meanwhile, players are being asked by security to remove labels from water bottles at practice to avoid conflicts with a sponsorship agreement.
Patent ‘troll’ label gets Congress to ponder what’s in a name
“Troll” is a term without clear definition and yet it’s being used to push Congress and the Supreme Court to curb abusive litigation. Companies including Eli Lilly warn against damaging a centuries-old system designed to promote advances in science and industry.
Would-be Lilly foe wins U.S. panel backing for inhaled insulin
Advisers to the Food and Drug Administration voted 13-1 and 14-0 that the drug, Afrezza, should be approved for Type 1 and Type 2 diabetes, respectively. The FDA doesn’t have to follow the panel’s recommendation.
Cancer treatment makes Endocyte premium takeover target
Now that Indiana-based Endocyte Inc.’s experimental cancer treatment is proving successful, the company may command a takeover bid at one of the industry’s highest premiums on record.
Would-be Lilly competitor’s inhaled insulin tied to lung concerns
Afrezza, a powdered insulin used through an inhaler, would be the MannKind Corp.’s first marketed product. The treatment would compete against Lilly’s Humalog. An FDA report tied the drug to a decline in lung function.
Football labor decision might hurt schools, Moody’s says
Lawsuits challenging amateurism in U.S. college sports may result in higher costs for universities and the National Collegiate Athletic Association, Moody’s Investors Service said Thursday.