Dow Agro sales climb, but profit suffers
Indianapolis-based Dow AgroSciences improved revenue during the third quarter thanks to a 26-percent increase in volume, but it still recorded a loss for the period.
IBJ Staff and Bloomberg News
Articles
Reebok’s loss of NFL contract could hurt local plant
Competitor Nike Inc. will become the official apparel maker for the National Football League in 2012. The loss of the contract could mean layoffs at the Reebok plant on Indianapolis’ east side that makes NFL apparel and employs about 1,000.
Senate panel refuses to fund GE engine made by Rolls-Royce
The decision holds potential bad news for Indianapolis engine maker Rolls-Royce, which produces the engines. Rolls-Royce is the region’s second-largest manufacturer, behind Eli Lilly and Co., with about 4,300 local employees.
CEO says Lilly still not interested in huge acquisitions
Lilly remains disinterested in making big acquisitions and aims to rely on the company’s own pipeline, CEO John Lechleiter said Tuesday, re-emphasizing a strategy he has outlined several times in the past year.
Simon sees improving retail conditions, analyst says
Simon Property Group Inc. said retailers
leasing space in its malls have managed to weather the economic downturn and are already eyeing recovery plans for when the
economy improves.
Medco to acquire United BioSource for $710M
Medco operates an automated pharmacy and distribution center in Whitestown in Boone County, and it plans to employ more than
1,400 people there by 2012.
Dow Agro boosts sales, profit in second quarter
Indianapolis-based Dow AgroSciences improved sales and profit in its second quarter thanks to higher volumes and lower costs,
the company said Tuesday morning.
Lilly loses appeal over patent for cancer drug Gemzar
A U.S. appeals court Wednesday said a lower court was correct to invalidate a patent on the medicine that expires in 2013.
Gemzar generated $1.36 billion in global sales in 2009.
Calumet Specialty plans to sell $450 million of debt
The Indianapolis-based refiner of specialty hydrocarbon products plans to sell $450 million of senior notes. Proceeds will
be used to repay bank debt.
New Jersey names Indiana’s Walsh to head investment division
Timothy Walsh will take over a $68 billion pension fund, eight times larger than the $8.5 billion Indiana State Teachers Retirement
Fund he headed since 2008.
Men on Viagra, Cialis show triple rate of sex diseases in study
The findings suggest that users of drugs to treat erectile dysfunction, including Eli Lilly’s Cialis, may be more likely to
engage in unsafe sex than nonusers.
Lilly, Amylin stock rises on drug postponement
Roche Holding AG’s decision to postpone its experimental diabetes drug is helping boost shares in Amylin Pharmaceuticals
Inc. and drug partner Eli Lilly and Co.
Toyota to move Highlander production to Indiana
Toyota began manufacturing the Highlander SUVs in November 2000 and has been making between 1,000 to 9,000 gasoline vehicles
a month. In April, it produced about 1,900 units.
Formula One set for U.S. comeback
Formula One, which hasn’t conducted a U.S. race since 2007 in Indianapolis, plans to return to the United States in 2012 with
an event at a new track in Austin, Texas.
CEO Smulyan gets OK to take Emmis private
Emmis Communications Corp. agreed to be acquired for about $90 million by closely held JS Acquisition LLC, a company formed
by Emmis CEO Jeff Smulyan.
NFL must face antitrust suits, U.S. high court rules
The lawsuit involved the National Football League’s agreement with Adidas AG’s Reebok, which employs 950 people at a manufacturing
plant on the east side of Indianapolis.
Eli Lilly invests in $250M Australian venture fund
The unnamed venture fund will be based in Brisbane, and will focus on biotechnology investments in Australia and southeastern
Asia.
Simon withdraws bid for General Growth
Indianapolis-based Simon Property Group Inc. has withdrawn its offer for General Growth Properties Inc. after a bankruptcy
court judge approved a sale process that gives an advantage to a group lead by rival bidder Brookfield Asset Management Inc.
Report: Examiners failed to curb risky lending at Irwin Union
The now-defunct Irwin Union Bank and Trust almost tripled in size from 2000 to 2005 as it extended credit to subprime mortgage
borrowers with insufficient collateral.
Central Indiana gets $16M in health IT stimulus
The central Indiana area has been selected as one of 15 communities that will share in $220 million worth of grants for pilot
projects to test health-care information technology.