Eli Lilly and Co. revealed in a regulatory filing today that the recent settlement of a Zyprexa class-action lawsuit cost $495 million, according to Bloomberg. The Indianapolis pharmaceutical company announced Jan. 4 that it had reached the agreement on 18,000 claims, leaving 1,200 remaining to resolve. The plaintiffs claimed the drug caused them to gain […]
Champps Entertainment Inc., which operates two of its casual dining eateries in Indianapolis, has agreed to be bought by Kinderhook Industries LLC for $75 million. Kinderhook Industries is a New York-based private-equity firm. Champps plans to reinvest the sale proceeds in another business. There are about 65 Champps restaurants in 22 states.
Eli Lilly and Co. said today it will invest “significant resources” in biotechnology manufacturing in Indianapolis and offer voluntary buyouts to 250 workers in Lafayette as part of a shake-up of global manufacturing operations. The Indianapolis drug maker said it will expand Indianapolis operations in order to turn active ingredients made at an expanded site […]
Interactive Intelligence opens regional office in Virginia Interactive Intelligence, the Indianapolis-based business software developer, has opened an office in Herndon, Va., to oversee service, sales support and education in the Eastern United States. The office is half hour’s drive west of Washington, D.C., where Interactive counts the military and several government agencies as customers.
Fortune Industries Inc.’s first-quarter profit fell 14 percent, to $726,000, from the year-ago quarter. The Indianapolis-based holding company for wireless technology and human resources companies attributed the drop to an increase in interest expense and stock dividends. Revenue in the period ended Nov. 30 grew 12 percent, to $40.7 million.
An affiliate of IBM wants to spend $2.5 million to open a customer service center in a former school in Marion. The center, which would be part of Gov. Mitch Daniels’ privatization of the collection and management of data for the Family and Social Services Administration, would answer questions about Medicaid, welfare and other FSSA […]
Armor Metal Group plans to lay off 112 workers at its plant at Madison in southern Indiana, according to a filing the company made with the state. The layoff will be carried out by March, the filing said. Officials for the Mason, Ohio-based company were not immediately for comment. Armor Metal’s Web site said 160 […]
Northwest Airlines Corp. and Delta Air Lines Inc. have engaged in talks about merging after they emerge from bankruptcy protection, according to The Wall Street Journal. Northwest is the largest carrier at Indianapolis International Airport, carrying approximately 22 percent of all passengers. Earlier today, US Airways Inc. said it boosted its offer for Delta to […]
Pierceton-based Paragon Medical Inc., which makes orthopedic surgical products, has acquired OMC Precision Products Ltd. and Tutela Medicus Inc., reports the Journal Gazette in Fort Wayne. The purchase price for the two Indianapolis-based firms was not disclosed. OMC makes spinal implants and Tutela is a product development firm for the medical device industry. The 70 […]
An owner of Royal Spa Corp. is upset about a release the Indiana Attorney General’s Office issued today saying the Indianapolis company agreed to give consumers two written copies of their right to cancel orders when selling at fairs and other events. Bob Dapper, who owns the company with Rick Bartlett, said he was surprised […]
An ethanol company in Morgan County is investigating using sawdust and other wood waste instead of corn to make ethanol. Heartland Renewable Fuels LLC hopes Purdue University can help it learn to make the fuel from green hardwood cellulose, according to the Reporter-Times of Martinsville. The company believes competition for sawdust would be less intense […]
Lebanon’s city council voted Monday to annex 578 acres immediately south of Interstate 65 and east of State Road 39, according to the Reporter. A final vote is scheduled Jan. 22. Denison Properties told the IBJ it plans to develop 115 of the acres as bulk distribution and light industrial similar to nearby Lebanon Business […]
An Imax movie theater will open later this year in the Kerasotes ShowPlace 16 on the south side of Indianapolis, Imax Corp. said today. The agreement between Canada’s Imax and Chicago-based Kerasotes ShowPlace Theatres LLC will give Indianapolis its second Imax theater. The city’s existing Imax is at the Indiana State Museum downtown. A far-northside […]
US Airways has boosted its offer for bankrupt Delta Air Lines Inc. to $10.2 billion, after Atlanta-based Delta rejected an initial, $8 billion offer in November. The latest offer expires Feb. 1. US Airways CEO Doug Parker said the sweetened bid is intended to “eliminate any doubt” of a better deal for Delta’s unsecured […]
A federal judge in New York has ordered a Web site to take down a link to internal Eli Lilly and Co. documents about its controversial schizophrenia drug Zyprexa. The documents posted on Zyprexa.pbwiki.com were the basis of recent stories in The New York Times suggesting the Indianapolis drug maker downplayed weight gain and other […]
Integra Bank Corp. of Evansville said yesterday that it will write off $1.5 million in the fourth quarter largely because a charter airline service defaulted on loans totaling $18 million. The announcement, unusual for a bank, said Integra believes the loans are “adequately” secured, and that the loss won’t affect the $1.68 to $1.72 per […]
An anti-tax group in Lake County wants to tax heavy industry to persuade the companies to cut pollution and lower the tax burden on home owners, according to the Post-Tribune of Merrillville. Miller Citizens Corp., a not-for-profit, is beginning a campaign to lobby the General Assembly to give counties the option to tax based on […]
Stock in Brightpoint Inc. tumbled 11.6 percent by mid-afternoon Tuesday after a CIBC World Markets analyst slapped the Plainfield cell phone distributor with a downgrade. Ittai Kidron rated Brightpoint “Sector Perform” from “Sector Outperformer,” prompting investors to devalue the shares by $1.50, to $11.38. Brightpoint has struggled to convince Wall Street of its prospects […]
Mills Corp., the Chevy Chase, Md., shopping mall and entertainment center company, said today that losses resulting from accounting errors might force it to seek bankruptcy protection. In 2002, Mills bought out a joint venture it had with Indianapolis-based mall owner Simon Property Group for $430 million. Mills said it will restate earnings for 2001 […]
The Bon-Ton Stores Inc. plans to include a 15,000-square-foot home store in the 144,000-square-foot Parisian at Circle Centre mall, the new owner of the store said today. Bon-Ton, of York, Penn., bought the Circle Centre location and three other Parisian department stores from Belk Inc. in October. Construction on the Indianapolis project is to be […]
