WellPoint buying managed care firm for $4.9B
The Indianapolis health insurer is buying Virginia-based Amerigroup Corp. to expand in managed care for poor and elderly patients in the Medicare and Medicaid programs.
IBJ Staff and Bloomberg News
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Sudden Duke Energy CEO shift puts Rogers in spotlight
Three former board members of Progress Energy Inc. said they would have voted against Duke's $17.8 billion takeover offer had they known Rogers would remain in charge of the combined companies.
Lilly cancer treatment fails trial in stomach cancer
Erbitux, a cancer treatment made by Indianapolis-based Eli Lilly and Co.'s Imclone unit, failed to help patients with advanced stomach tumors in a late-stage clinical trial.
Abound Solar set to close doors, file for bankruptcy
Abound Solar Inc., a Colorado-based solar manufacturer that once hoped to hire 1,200 people in Indiana by the end of 2013, will close its doors and file for bankruptcy.
Bank of Montreal targets Midwest, Indy for growth
Bank of Montreal’s 2011 acquisition of Marshall & Ilsley Corp. is finally helping it make in-roads in the U.S. Midwest. It has identified five U.S. markets, including Indianapolis, where it aims to add new branches or make acquisitions.
Abound Solar chief declines to testify before House panel
The CEO of a company that once said it planned to create up to 1,200 jobs north of Indianapolis has declined to testify before a U.S. House panel investigating the federal clean-energy program.
Eli Lilly’s Cialis faces faster-acting competition
A Vivus Inc. pill that is supposed to provide erections within 15 minutes, about half the time or less than Eli Lilly and Co.'s Cialis or Pfizer Inc.’s Viagra, has received U.S. regulatory approval.
Local automobile dealers enjoy big month of sales
New car sales nationally rose about 13 percent last month as consumers replaced aging vehicles and took advantage of cheap financing. Sales were way up for many Indianapolis auto dealers.
Biomet offers to acquire DePuy trauma biz for $280M
Warsaw-based Biomet, which designs and manufactures orthopedic products for surgical and non-surgical uses, said the deal would greatly expand its sports, extremities and trauma business.
State’s largest private company plans to go public
Evansville-based Berry Plastics Group Inc., a container maker owned by funds affiliated with Apollo Global Management LLC, on Friday filed to sell up to $500 million of stock in an initial public offering.
ExactTarget soars in trading debut after initial public offering
Indianapolis-based ExactTarget Inc., the e-mail marketing company that counts Microsoft Corp. and Groupon Inc. as customers, gained more than 30 percent in its trading debut Thursday.
Express Scripts’ Medco deal may be delayed by potential suit
Express Scripts Inc.’s bid to acquire Medco Health Solutions Inc. and create the largest U.S. pharmacy-benefits manager may be delayed by a lawsuit being considered by five states.
Analysts lukewarm to Allison ahead of market debut
Shares of Allison Transmission Holdings Inc. are expected to begin trading Thursday, but the early reaction to the IPO from analysts is lukewarm. The locally based company’s private-equity owners are offering 21.7 million shares for $22 to $24 apiece, which could raise as much as $522 million.
Local mortgage firm lands $25M in private equity
Indianapolis-based Stonegate Mortgage Corp. has received funding from Long Ridge Equity Partners, a private-equity firm, to help it expand in mortgage origination and servicing, the company said Monday.
Simon Property Group goes on $3.5B mall spending spree
The Indianapolis mall owner is expanding its global profile, agreeing to buy a controlling stake in a French firm with a 271-property European portfolio. Simon also is buying out a partner in its Mills portfolio closer to home.
Allison Transmission seeks $522M in initial public offering
Indianapolis-based Allison Transmission Holdings Inc., the former parts unit of General Motors Co., is seeking to raise as much as $522 million for its private-equity owners in an initial public offering.
Lilly plans 200 jobs at new $440M Ireland plant
Eli Lilly and Co. plans to invest about $440 million in a new pharmaceutical plant at an existing company site in County Cork in southern Ireland. The facility in Kinsale will require as many as 200 skilled employees when fully operational.
Purdue scientists part of team challenging Moore’s Law
Moore's Law states that the number of transistors that can be placed on an integrated circuit doubles every 18 months to two years, and it's predicted to reach its limit with existing technology in 2020.
Rolls-Royce’s profits in line with expectations
Rolls-Royce Holdings Plc, the world’s second-largest aircraft-engine maker, said profit rose in line with estimates, buoyed by a backlog of orders from Boeing Co. and Airbus SAS.
Toyota plans to add 400 jobs in southwest Indiana
Toyota Motor Corp. said Wednesday afternoon it would add 400 jobs in Princeton after consolidating production of its Highlander mid-size SUV.