Eli Lilly and Co. could face a delay on the highly anticipated weekly version of its diabetes drug, Byetta. Data for a once-weekly version of Byetta did not adequately show that batches of commercially manufactured Byetta were comparable with batches manufactured earlier for use in clinical trials. That’s what the U.S. Food and Drug Administration […]
The St. Francis hospital system has postponed the threatened termination of its contract with Anthem Blue Cross and Blue Shield in Indiana until Friday, Nov. 7. St. Francis had promised to cancel its contract at midnight Nov. 2, saying Anthem has been slow to pay claims and hasn’t granted St. Francis terms similar to other […]
OneAmerica Financial Partners Inc. has made no secret of its desire to acquire other companies. Well, if it wants to buy,
it could hardly find a better time.
Indianapolis-area hospitals have suffered a double whammy of spiking interest rates on their bonds and heavy losses in their
investment portfolios and are trying to save cash any way they can.
Dr. Catherine Michael, a part-time emergency physician for Indianapolis-based St. Vincent Health, desperately wants Republican John McCain to be the next president. The 39-year-old mother of three gave McCain’s campaign $500 in May because, she said, he will appoint Supreme Court Justices that are antiabortion. Michael, who attends a conservative Presbyterian church, […]
Republican Sen. John McCain has been unable to achieve the same Indiana fund-raising edge on his Democratic opponent that
President George W. Bush did in past elections. Bush rang up an Indiana fund-raising advantage of $1.7 million over Sen. John
Kerry in 2004, according to the Center for Responsive Politics. And his popularity in Indiana allowed
him to spend those dollars to help him campaign in other states while easily winning Indiana’s electoral
votes. But this election, Sen. Barack Obama had outraised Republican John McCain by $360,000 through the end of August, when
McCain’s decision to take public campaign funds forced him to stop raising funds directly for himself.
Obama did not take public funds, and so has continued to raise money.
Just how big of a deal was the Healthy Indiana Plan? That seems to be the key question dividing Republican Gov. Mitch Daniels and his Democratic challenger, Jill Long Thompson, in their competing plans over health care reform. Daniels’ campaign for re-election points to his administration’s ongoing rollout of the Healthy Indiana Plan as his entire plan for health care reform in his second term. The plan, which uses cigarette tax revenue to offer health insurance and health savings accounts…
One of the internal candidates to replace Community Health Network CEO Bill Corley has resigned to take a new job. Mark Dixon will leave Community on Nov. 14, the Indianapolis not-for-profit hospital organization announced yesterday. Dixon essentially was the No. 2 officer at Community, overseeing its three Indianapolis hospitals. Dixon, who joined Community Health Network […]
Eli Lilly and Co.‘s settlement of Zyprexa litigation sent it to a $466 million loss during its third quarter. But the Indianapolis-based drugmaker exceeded expectations of Wall Street analysts. Lilly spent nearly $1.5 billion to settle a 32-state probe into its marketing and disclosures about Zyprexa, an antipsychotic that is the company’s bestselling drug. It […]
Profit at WellPoint Inc. fell nearly 6 percent in the third quarter, but the company added 63,000 new customers during the period. On a per-share basis, WellPoint improved its profit by 10 percent, earning $1.60 per share compared with $1.45 a year ago. Those results surpassed analysts‘ expectations of $1.50 per share, according to a […]
Medicare’s new rule to refuse to pay hospitals for “preventable errors” hasn’t caused hospital administrators to lose sleep about lost revenue. But they do worry that the new rule, which went into effect Oct. 1, could increase the number of costly malpractice lawsuits filed against their hospitals. It’s not clear yet what the financial impact of Medicare’s new “no-pay” rule will be. But companies that make their money supplying hospitals with equipment and services have wasted no time using the…
A year of computer snafus boiled over Oct. 13 when the St. Francis system declared WellPoint Inc. in breach of its contract
because of habitually late payments.
Roche Diagnostics Corp. will cut 200 positions from its Indianapolis work force in what a spokeswoman called “a normal course of assessing the business.” Switzerland-based Roche, which makes medical devices such as glucose meters, employs roughly 2,600 people here as part of its North American headquarters and research-and-manufacturing operations. All of the cuts will come […]
Eli Lilly and Co. has written a $6.5 billion IOU to acquire the cancer drugs of ImClone Systems Inc. Cancer drugs are now
the best-selling class of drugs in the world and one of the fastest growing.
Clarian Health Ventures has invested an undisclosed amount of money in NeoChord Inc., a Minneapolis company that’s developing a treatment for mitral-valve regurgitation. The treatment is based on technology first developed at Mayo Clinic and has since received funding by angel investors with ties to Indianapolis, Clarian said in a press release. The technology has […]
Eli Lilly and Co. promised to dole out $62 million to 32 states to settle claims that the Indianapolis drugmaker improperly marketed its bestselling drug, the antipsychotic Zyprexa. Indiana will get $1.6 million of the total, according to Attorney General Steve Carter. Attorneys general from the 32 states had claimed that Lilly illegally promoted Zyprexa […]
Wall Street didn’t embrace Eli Lilly and Co. CEO John Lechleiter’s plan to acquire biotech firm ImClone Systems Inc., a maker of cancer drugs, for $6.5 billion. Lilly shares tumbled 5 percent today to less than $40 a share-a new 52-week low. One analyst called Lilly’s deal “an act of desperation” as the company struggles […]
Eli Lilly and Co.’s planned acquisition of ImClone Systems Inc. is its boldest move yet to replace revenue it will lose once patent coverage for its bestseller Zyprexa expires in three years. The Indianapolis-based drugmaker announced this morning it would pay $6.5 billion in cash to acquire New York-based ImClone, a biotech firm that develops […]
Eli Lilly and Co.’s frustrating attempt to get a ruling from federal regulators on its experimental blood thinner prasugrel may be a test case of life under a more cautious-and understaffed-U.S. Food and Drug Administration. That’s the opinion taken by many pharmaceutical analysts after the FDA missed its self-imposed Sept. 26 deadline to make a ruling on prasugrel. The FDA already had delayed its decision by three months after it agreed to give prasugrel a “priority” review lasting six months….
After the unexpected death of insurance magnate J. Patrick Rooney, two organizations he led until the day he died are scrambling
to figure out who will lead them into the future.
