Diabetes drug Lilly abandoned has new life
In an amazing resurrection, teplizumab, developed by another company after Lilly trials were a letdown, is one of the hottest new drugs on the market.
John Russell
Articles
Eli Lilly’s report card on racial justice effort shows $15.6M in donations
The Indianapolis-based drugmaker released a report card Thursday that outlined its progress “to support effective solutions” to racial inequity and social injustice. In addition to donations, the company has committed tens of millions of dollars to other diversity efforts.
Corteva buys Houston-based plant biologics company for $1.2B
The acquisition is designed to accelerate Indianapolis-based Corteva’s biologicals business and make it one of the largest players in the market.
Corteva cutting 1,000 workers globally, including at Indianapolis HQ
Corteva Inc., the Indianapolis-based seed and insecticide giant, is cutting 5% of its global workforce, or roughly 1,000 workers, as it reduces its portfolio of products and streamlines its operations.
Unorthodox primary care provider ChenMed entering Indy market
The fast-growing, family-owned operation, based in Miami, has filed plans with the state to renovate three buildings and open them as primary care medical clinics.
55 Indiana hospitals facing fines for excessive readmissions
The number is down from 62 hospitals last year and 66 the before, but will still cost many hospitals money while they are still dealing with the strain of the pandemic that has overwhelmed resources and reduced their revenue and profits.
Staffing shortages rock pharmacy industry
While they scramble to fill positions, some pharmacies are cutting their hours or closing locations. That means patients are waiting longer to get their prescriptions filled.
Point Biopharma finds big licensing partner, but stock falls after Q3 loss widens
It was supposed to be a “good-news” day for Indianapolis-based biotech Point Biopharma Global Inc. Instead, the company saw its stock get battered Monday, losing as much as 38% of its value, after it released a pair of announcements.
MBX Biosciences closes on $115M in drug-development funding
The funding amount is one of the largest in recent years for an Indiana-based science startup.
Youth summit seeks to increase Black enrollment in medical schools
Hospitals and clinics are full of doctors in white coats. But only a tiny portion of them, about 4%, are Black.
Senior housing trend means fewer services, lower rents
A trend called “active adult communities” translates to age-specific housing that has eliminated dining, transportation and cleaning services.
Franciscan Health nurse pleads guilty to tampering with pain meds
Jennifer L. Adams administered saline solutions instead of prescribed pain medication to between 30 and 40 patients, the court documents said.
Lilly shares stumble on lower profit outlook despite solid quarter
Eli Lilly stock has skyrocketed 36% in the past 52 weeks due to strong sales on newer drugs, but the market reacted negatively to its latest forecast.
California biotech to invest $45M in Indy, hire 64 people
RayzeBio Inc., a private company founded in 2020 in San Diego, said it will invest in improvements and equipment in a former warehouse for e-commerce giant Amazon.com Inc.
NICO Corp.’s brain surgery tools gain traction, $12.6M in new funding
After 15 years of coaxing and cajoling the medical community to consider a different way to do brain surgery, NICO co-founder Jim Pearson has numbers to show more surgeons and investors are buying into his vision.
Lilly commits $92.5M to Purdue for drug research, scholarships
In a significant expansion of their longstanding collaboration, the partners hope to develop new models for delivering therapies to patients and provide full tuition to between 75 and 100 students each year for 10 years.
AES Indiana seeks to convert coal-fired units at Petersburg plant to natural gas
For years, environmentalists and public officials have urged AES Indiana to stop burning coal at its largest and dirtiest power plant. Now, it appears that the Indianapolis-based utility is getting ready to do just that.
Community Health posts net loss of $252M on investments, high nursing costs
Net patient revenue for the first nine months of the year increased an undisclosed amount, driven by an increase in volumes in many areas. Patient days climbed 5% and admissions rose 5.7% during the period.
IU School of Medicine researchers study mouse brains to learn about Alzheimer’s
The IU School of Medicine announced won a five-year, $48.8 million grant from the National Institute on Aging, a division of the National Institutes of Health, to create in mice genetic mutations similar to those found in people with late-onset Alzheimer’s.
Indiana’s soaring health care costs linked to market concentration
A high concentration of hospital, physician and insurance markets in Indiana have likely contributed to health care costs soaring 48% in a recent nine-year period, according to a new study commissioned by state lawmakers.