Nevada company sues Lilly for breach of contract over Alzheimer’s drug
Lilly called the lawsuit “baseless” and said PDL BioPharma “has no plausible claim to royalties” for donanemab, which is expected to be approved by the FDA this quarter.
John Russell
Articles
2023 Newsmaker: Ricks leads Lilly to new heights
David Ricks led Eli Lilly and Co. to milestone after milestone in 2023, with a slew of product launches for diseases from obesity to inflammatory bowel disease. And when Lilly wasn’t scoring wins in the laboratory, it was issuing a series of head-turning announcements,
Lilly’s soaring stock, Fishers’ innovation park among top 10 life sciences stories of 2023
It was a busy year for the Indiana life sciences community, with a flurry of billion-dollar deals, major announcements, and a few setbacks. Here we present the top 10 stories of 2023—the good, the bad and the ugly—about an industry that is often hailed as a key driver of Indiana’s economy.
RayzeBio Inc. to be acquired by drugmaker Bristol Myers Squibb for $4.1B
RayzeBio is building a large factory on the northwest side of Indianapolis to make radioisotopes for cancer treatment.
Made in Indiana: Chevrolet Silverado pickup trucks by General Motors
History: The Chevrolet Silverado, the second-most-popular pickup truck in America last year, is made at General Motors Co.’s Fort Wayne Assembly Plant. The 3-million-square-foot facility was built in 1986 and today employs nearly 4,000 people. GM has invested $1.2 billion in the plant, which recently celebrated manufacturing its 10 millionth truck. In June, GM announced […]
Lilly signs another AI deal, this one for obesity
Fauna Bio, based in the San Francisco area, said Thursday it will give Lilly access to its AI platform, called Convergence, to support preclinical drug discovery efforts in obesity.
Carmel firm raises $116M to advance anti-inflammatory drugs into human testing
The investment in Sudo Biosciences, a three-year-old Carmel biotech, is one of the largest in recent years for an Indiana-based science startup, a signal that investors are attracted by its work on a class of drugs to treat autoimmune and inflammatory diseases.
Community Health agrees to pay $345M to settle ‘false claims’ lawsuit
Community Health Network has agreed to pay the United States government $345 million to settle allegations that it engaged in a years-long scheme to recruit physicians and pay them huge salaries and bonuses in return for “downstream referrals” on medical procedures.
Point Biopharma shares sink 11% on study results; Lilly acquisition still up in air
Results of a clinical trial for Point Biopharma’s lead compound fell short of analysts’ expectations, and that development is likely to pressure its investors to decide whether to agree to sell the company to Eli Lilly and Co. for $1.4 billion.
Walgreens closes medical clinics in Indiana, causing headaches for patients and doctors
VillageMD, a subsidiary of Chicago-based pharmacy giant Walgreens Boots Alliance, is closing more than 60 primary care clinics in five markets, including nine practices in northern Indiana and four in central Indiana.
Lilly launches obesity drug, but insurers balk over price
The new drug, called Zepbound, carries a hefty price of $1,059.87 per month, and insurers and health care plans are balking, questioning its affordability. Many employers and government health programs exclude obesity treatments from their coverage.
City seeks to rezone land on southeast side for ‘low barrier’ homeless shelter
The city wants to build a “housing hub” that will include the city’s first low-barrier homeless shelter on 11 parcels at the intersection of Shelby and East Georgia streets.
In race to develop obesity drugs, Roche acquires California biotech for $2.7B
The company, Carmot Therapeutics, has numerous drugs under development. Its lead asset is a once-a-week injection that is in mid-stage development for the treatment of obesity.
Eskenazi Health raising $60M to close health gaps
In March, Eskenazi Health launched a fundraising campaign to help it move the needle on health disparities. As of last month, its foundation had raised $57 million.
CEO: Here’s why Corteva moved its HQ to Indy from Delaware
Speaking at Monday’s Economic Club of Indiana, Corteva CEO Chuck Magro said last year’s decision was anything but hasty or haphazard.
High-stakes dispute between Lilly, competitor over migraine drugs winding down
The two companies have been battling for years over patents for migraine headache drugs—Emgality for Lilly and Anjovy for Teva. Both drugs are once-monthly injections and were approved 13 days apart in September 2018.
AES Indiana reaches agreement to raise electricity rates 7.3%
The utility’s initial proposal provoked widespread objections, including from more than 40 customers who attended two field hearings.
16 Tech gears up in reach for national stage
The live-work-play campus has been picked to join a new national network designed to connect researchers, entrepreneurs and investors to accelerate the development of health care products and services and speed up health care innovations.
Lilly Endowment awards $11M to 19 local groups serving immigrants
The Indianapolis-based philanthropy giant says the grants are intended to help immigrants acclimate to life in central Indiana and make progress toward self-sufficiency.
Baxter sells Bloomington plant with 1,000 workers to private investors
The Bloomington plant, with about 1,000 employees, is the fifth-largest employer in Monroe County, according to the Greater Bloomington Chamber of Commerce, and is poised for more growth.