As AES Indiana abandons coal, capacity questions arise
If all goes to schedule, the huge power plant about 125 miles southwest of Indianapolis will convert to natural gas and burn its last load of coal by the end of 2026.
John Russell
Articles
Lilly opens new 12-story, $700M R&D center in Boston
Lilly is moving about 200 scientists and researchers who had worked in nearby Cambridge, Massachusetts, to the new center, and plans to add about 300 employees.
Lilly Endowment offering up to $600M in competitive grants for Marion County K-12 schools
The Indianapolis-based philanthropic foundation said Thursday that more than 80 public, private and charter school districts and networks representing more than 300 schools in Marion County are eligible to apply for grants.
Proposed Medicare cuts put squeeze on doctors
Last month, the federal Medicare program proposed a 2.9% cut to physician pay for 2025. That marked the fifth straight year that regulators proposed cutting payments to doctors for thousands of services, from stitching a wound to replacing a knee.
AES to spend $1.1B as it converts huge Petersburg plant from coal to natural gas, adds solar and battery projects
The investment would make AES Indiana the first utility in Indiana to abandon the use of coal as a fuel source, if state regulators agree, the company said.
Marsh Davis to retire as president of Indiana Landmarks after 19 years at helm
Davis has dedicated 37 years of his career to Indiana Landmarks, the nation’s largest statewide preservation organization, which has helped preserve scores of historic buildings across the state.
Strong sales of Mounjaro, Zepbound push Lilly profit up 68%
The Indianapolis-based drugmaker said revenue increased 36% in the quarter, to $11.3 billion. Zepbound, the popular obesity drug that launched in December, crossed into blockbuster territory, with sales of $1.23 billion in the quarter.
Fast-growing MBX Biosciences raises another $63.5 million in funding
MBX is focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders, such as hypoparathyroidism, post-bariatric hypoglycemia and obesity.
Lilly Endowment approves more than $300M in grants to 13 Indiana colleges
The five-year implementation grants range from $12.1 million to $32 million each, with DePauw University in Greencastle landing the largest grant.
IU Health operating income falls 73% in first six months of 2024
Indiana University Health, one of the state’s largest hospital systems, saw patient volumes and revenue grow in the first six months of the year, but saw operating income fall as the costs of labor, supplies and drugs increased to meet higher demand for surgeries and patient care.
Groups launch hospital-linked violence intervention program
The program aims to reduce the likelihood of future violence by engaging victims of gun violence and their families with long-term services and support.
Trilogy Health to expand senior housing in Noblesville, Mooresville, Greenfield
The expansion projects in three central Indiana communities are part of a larger investment the company said it is making across the Midwest to senior living and assisted living services in Indiana, Kentucky, Michigan and Ohio.
Lilly inches toward rare $1 trillion market-value distinction
The spotlight is turning to Indianapolis-based Eli Lilly and Co. as the next possible member of the so-called “Trillion-Dollar Club,” based on the drugmaker’s climbing stock price and swelling demand for its treatments for diabetes, obesity and other diseases.
Community Health sees 44% drop in first-half operating income
Despite the decrease, Community Health Network saw an increase in admissions, emergency visits, deliveries and physician outpatient visits during the first six months of 2024.
How Lilly wooed Massachusetts biotech with flurry of offers
It was a mating dance that lasted more than three years. At the end, Eli Lilly and Co. wound up buying a Massachusetts-based biotech developing treatments for inflammatory bowel disease for $3.2 billion.
IU Health’s massive hospital project is on schedule, should ‘top out’ next spring
Work on Indiana University Health’s $4.3 billion downtown hospital campus, one of the most expensive construction projects in Indiana history, is set to be finished in late 2027.
Lilly shares slide 7% after Roche announces obesity pill test results
The Roche drug is a once-daily pill, compared to Lilly’s tirzepatide, sold under the brand names Mounjaro (for diabetes) and Zepbound (for obesity), which is a once-weekly shot.
Pharmacy software company lays off 71, including 11 at Indy HQ
Just three years ago, Indianapolis-based Innovation Associates had huge hopes for growth here. But instead of growing, the company is now shrinking. Last week, the company quietly laid off 11 people in the Indy office and 60 people in other markets.
INCOG BioPharma investing additional $125M on Fishers campus
The expansion plan includes construction of a 100,000-square-foot building on its corporate campus and the addition of 100 jobs.
State utility counselor urges regulators to slash Duke Energy’s rate hike request
Duke Energy Indiana, the state’s largest electric utility, in April filed a request with state regulators for permission to raise rates by about 16% over two years.