A new leader will guide the city’s largest company in 2008, with some of the biggest challenges in its history on the horizon.
Eli Lilly and Co. announced Dec. 18 that CEO Sidney Taurel will step down March 31 and will be replaced by President John
C. Lechleiter, who has been the heir apparent for more than two years.
When Eli Lilly and Co. CEO Sidney Taurel announced his retirement Dec. 18, he said he was leaving the company in good shape.
And he can cite plenty of evidence to support him. But when Taurel steps down as CEO March 31, he also will leave a legacy
of a languishing stock price and some costly mistakes that some think could have been avoided. “The facts are the facts; I
guess you can’t ignore it. The stock price has been…
John C. Lechleiter, whom Eli Lilly and Co.’s board voted to replace Sidney Taurel as CEO, is known for getting things done
and yet also for being good at analysis and relating to people under him. Taurel will step down at the end of March but remain
chairman until the end of 2008.
Investors gave an initially favorable response to the news that John C. Lechleiter, a chemist by training, will take the helm of Eli Lilly and Co. next year, at a time the entire industry faces wrenching changes. “I’m all for the person with the science background to be the CEO,” said Rich Foran, vice president […]
Peering into a high-powered microscope in cramped, shared lab space at Indiana University Medical Center, Dr. Juan Carlos Grandin is trying to see a solution to a worldwide problem: a shortage of corneas available for transplants. If he’s successful, Grandin’s work could one day lead to a new biotech product for an Indianapolis company. Officials from Indianapolis-based EndGenitor are watching the project but currently have no stake in it. At the very least, Grandin’s work provides a bit of prestige…
Eli Lilly and Co. will shrink itself with “great intensity” over the next few years, in part by
outsourcing. For other local life sciences firms, that’s a fat pitch for new business. But it’s not clear if non-Lilly firms
can grow fast enough to offset the jobs and wages Indianapolis will lose from Lilly.
When Jim Cotterill became president of the newly formed Hoosier Christian Foundation in August, it capped off six years of
soul-searching for the Indianapolis entrepreneur. Cotterill represents growing numbers of local business professionals who
have diverted their time and talent to charity and service.
By J.K. Wall Indiana ranked among the top 10 states for its strength in medical technology, according to a new report from the Advanced Medical Technology Association, a trade group of makers of medical devices, equipment, software and supplies. The report was based on the number of jobs and wages in medical technology companies and […]
Clarian Health officials say the only way they can keep operating their medical centers downtown is to support them with profitable
suburban hospitals. So far, it seems Clarian is on the right track. As Clarian moves forward with a new, $180 million hospital
in Fishers, its two existing suburban hospitals are starting to make money.
Eli Lilly and Co. CEO Sidney Taurel says the company will continue reducing its work force – even through some job cuts – as the entire pharmaceutical industry tries to retool for a future without the kinds of mega-blockbusters that sustained it for decades. “We’re going to continue, year after year, with great intensity, to […]
WellPoint, Indiana’s largest health insurer, is making more noise than ever about what it’s doing to help improve Hoosiers’
and Americans’ health.
Conseco Inc. will transfer 120 of its 2,300 Carmel employees to a Minnesota company, under a plan the insurer announced today. The employees, who make up nearly two-thirds of Conseco’s long-term care team, still will work from Conseco’s offices on its Carmel campus. Along with the employees, Conseco will shift administration of 170,000 of its […]
WellPoint Inc.’s subsidiary in Connecticut will lose its contract to manage part of a $700 million insurance program for that state’s poor children and their parents after the Indianapolis health insurer repeatedly refused to disclose information about its practices, the Hartford Courant reports. WellPoint’s Anthem Blue Cross and Blue Shield of Connecticut threatened to cancel […]
AMPATH, a program that grew out of the partnership between Indiana University School of Medicine and Kenya’s Moi University Teaching and Referral Hospital, has received a 5-year, $60-million grant to prevent and treat HIV/AIDS in Kenya. The grant, announced today in Nairobi, comes from the U.S. Agency for International Development and is part of President […]
Two years ago, Indianapolis insurance broker Greg Wright started hawking an old kind of health insurance in a new way. He calls it a mini med. Others call it a limited-benefit health plan. It allows employers or their employees to pick coverage from a menu of items and receive insurance for only those items. If they don’t pick emergency room visits, for example, they’re not insured for them. It’s the kind of bare-bones benefits some retailers and restaurants, such as…
The Indiana Health Information Exchange recently hired Dr. Greg Larkin to be its chief medical officer. Larkin, who is the longtime head of Eli Lilly and Co.’s employee clinics and health plans, will focus on the exchange’s Quality Health First program, which aims to use a local database of doctors’ records and insurance claims to help doctors improve their quality of care. The program includes health insurance plans-such as Anthem, UnitedHealth and Medicare-that cover on average 70 percent of local…
Medco Health Solutions’ plan to build a large pharmacy distribution center in the Indianapolis area hits the state’s “sweet spot” for economic development, local and state officials said today. By employing pharmacists to oversee prescriptions, engineers and computer geeks to design and run robotic equipment to dump pills into bottles, and logistics workers to route […]
Medco Health Solutions’ plan to build a large pharmacy distribution center in the Indianapolis area hits the state’s “sweet spot” for economic development, local and state officials said today. By employing pharmacists to oversee prescriptions, engineers and computer geeks to design and run robotic equipment to dump pills into bottles, and logistics workers to route […]
Medical Animatics LLC hopes its latest product helps double its size while helping patients shrink theirs. The small Indianapolis firm plans to roll out bariatric-education software by yearend. By tapping the popular surgery procedure, Medical Animatics’ officers hope that product grows sales enough to double its nine-person work force in a year. The new product launch is the first major initiative for Medical Animatics since it secured angel investments from two former WellPoint Inc. officers earlier this year. Jane Niederberger…
Leaders of Indianapolis-area business organizations have a collective question mark in their minds when it comes to the look, feel and business-related priorities of Mayor-elect Greg Ballard. The Republican, who upset Mayor Bart Peterson in yesterday’s election, has promised to fight crime, avoid tax increases and consolidate local government. But it’s unclear what he’ll do […]
