Indianapolis Business Journal

Indianapolis-based Eli Lilly and Co. is in the middle of a battle over the future of drug costs as Medicare begins to ramp up a program to negotiate prices with pharmaceutical companies and many in the industry try to derail it or change the terms. John Russell focuses on Lilly's objections to the program. Also in this week's issue, Susan Orr reports that Indianapolis-based Noble Roman’s is battling with one of its largest shareholders over whether its CEO should be replaced on the restaurant company’s board of directors. And Daniel Bradley previews the plan for a split-level roundabout at one of the busiest intersections in Hamilton County.

The Republican-dominated Legislature has given Indianapolis a way to raise money for downtown’s post-pandemic revitalization, but there appears to be little chance that Democratic city leaders will pursue it before the November city electon. Taylor Wooten and Peter Blanchard explain their reluctance. Also in this week’s issue, Dave Lindquist profiles the new CEO of Indiana Black Expo. And Greg Weaver reports that business executives are rethinking annual performance reviews and the frequency of employee feedback.

Who do you think is responsible when a hospital sends a patient’s diagnosis to the wrong person, and that person immediately posts the diagnosis on Facebook. IBJ’s John Russell has the details from a privacy case involving an Indianapolis resident that has made its way to the Indiana Supreme Court. Also in this week’s issue, Peter Blanchard explains how the state is investing in Warsaw, Indiana, in order to help preserve its critical mass of orthopedic device firms. And IBJ’s latest edition of the Corporate 100 ranks the largest public and private companies in the state.

Community leaders and volunteers are working to turn a site that was once a swimming hole for Black Indianapolis residents into a year-round destination for the Haughville area. Taylor Wooten reveals plans for Belmont Beach. Also in this week’s issue, Mickey Shuey examines why the city’s pro sports franchises invest heavily in local youth recreation programs. And John Russell outlines the battle plan for Eli Lilly and Co. as it pushes hard to get a sales edge on other drugmakers in the war against metastatic breast cancer.

Tucked into the two-year state budget approved this year is $89.5 million to design and build a 5,000-seat arena at IUPUI, which is soon to be the Indiana University-Indianapolis campus. IBJ reporter Mickey Shuey reports that it was the Indiana Sports Corp. and the city that sought the arena, not the school, and they hope it will be another reason sports organizations host their events in Indianapolis. Also, reporter Dave Lindquist explains what's new at the revamped Stutz complex downtown.

In the latest edition of IBJ’s Innovation Issue, our reporters focus on the core Hoosier industries of farming and food production. Susan Orr explains how the state is primed to reshape the agbioscience industry. Peter Blanchard expounds on four ways Purdue University is driving breakthroughs in agricultural science. And John Russell focuses on the growing demand for renewable energy crops. Plus, profiles of movers and shakers, including NanoBio Designs, Inari and True Essence.

India-based tech giant Infosys lit up Indianapolis like a fireworks show in 2018, spotlighting plans for a $245 million, 141-acre campus and jobs for 3,000 local employees. As IBJ’s Susan Orr reports, the reality five years later is considerably dimmer. Also in this week’s issue, Mickey Shuey unpacks the economics of buying corporate suites at Indianapolis Motor Speedway, including the costs to suite holders and the potential returns. And John Russell examines the possible ramifications of a new state law that aims to help Hoosiers get more affordable prescription drugs.

Some hoteliers are skeptical of the Hogsett administration’s plan to finance and own an 814-room hotel on Pan Am Plaza, saying it would have a significant and unfair advantage in the competition for convention business. As Mickey Shuey reports, the mayor’s office maintains that the deal is necessary to keep Indianapolis’ hospitality industry competitive. Also in this week’s paper, Dave Lindquist has a preview of VeeCon, the celebrity-studded convention set for May 18-20 that aims to put Indianapolis at the intersection of business, marketing and innovation. And you can soak in the stories of local entrepreneurs in IBJ’s annual list of the 25 fastest-growing companies in the Indianapolis area.

Indianapolis officials are trying to capitalize on construction of the $4.3 billion IU health hospital complex on downtown’s north side with a new tax-increment financing district that could spur more investment in the area. Mickey Shuey has more on the district, which was approved last month.  Peter Blanchard explains how the business community benefitted from this year’s legislative session through tax relief, tax credits and other financial incentives. And this week’s Focus section features a new technology that lets corn plants signal when they’re in distress.

As Indianapolis Mayor Joe Hogsett seeks a third term, he’s facing opposition from a faction of his own party for the Democratic nomination. Taylor Wooten outlines the choice primary voters face between Hogsett’s two-term record and the vision of state representative Robin Shackleford. Also in this week’s issue, John Russell explains how the Goodman Campbell Brain and Spine physician group has rebounded from its split from IU Health. And Dave Lindquist profiles science fiction and fantasy author Maurice Broaddus, who has been hired by Marvel Comics and publisher Smart Pop to write stories featuring the character Black Panther.

Most folks agree that the state can play a role in helping educate workers for high-skilled jobs and help employers find the right fits for their workforces. But, as Peter Blanchard reports, Indiana legislators have hit some walls as they debate the best ways to do it. Also in this week’s issue, Daniel Bradley outlines the plan to build high-end housing for Purdue University’s retired alumni right on the school’s campus. And we introduce you to the members of IBJ’s Forty Under 40 Class of 2023, our 31^st annual collection of young-but-accomplished business, community and not-for-profit leaders.

The race for the Republican nomination for Indianapolis mayor is widely expected to come down to two candidates: Abdul-Hakim Shabazz and Jefferson Shreve. As Taylor Wooten reports, the big question is whether the straight-talking populism of political pundit Shabazz can overcome the deep pockets and measured approach of businessman Shreve. Also in this week’s issue, Susan Orr details the state investigation against a financial advisor and several related Indianapolis-based businesses. Investors say they have not been able to collect returns that they’re owed. And Dave Lindquist profiles chef Abbi Meriss, the co-owner of Fletcher Place’s lauded Bluebeard and a six-time James Beard Foundation Award semifinalist.

Downtown’s vibrancy has been dulled a bit by some national post-pandemic trends, including a decrease in office workers, an increase in homelessness and crime, and the continued decline of downtown malls. Taylor Wooten polls the candidates for Indianapolis mayor on how they would deal with those challenges, and more. Also in this week’s issue, Dave Lindquist details how local restaurants are refining food preparation and the customer experience now that more people are ordering through mobile apps. And John Russell explains how the potential for turning cow manure into natural gas is gaining more converts in Indiana’s energy sector.

Indiana legislators are considering a bill would prevent local communities from banning pet stores from selling dogs, cats and rabbits from any source other than a shelter or not-for-profit animal rescue group. Peter Blanchard reports the battle over the bill pits the Humane Society of the United States against national retailers such as Petland and Fishers-based Uncle Bill’s Pet Centers. Also in this week’s issue, John Russell has the story of a Fishers-based biotech company that’s trying to improve animal health with microbes that live inside the digestive tract. And Daniel Bradley has a preview of the 70-acre Geist Waterfront Park, opening late this month.

Susan Orr reports that the failures of both Silicon Valley Bank and Signature Bank earlier this month have venture investors and startups in Indiana and elsewhere rethinking how and where they bank—and that’s creating a business opportunity for other financial institutions. Also in this week’s issue, Dave Lindquist explains how a Zionsville musician turned his passion for making sausage into the fast-growing meat supplier Old Major Market. And John Russell examines how BioCrossroads, the organization that promotes Indiana’s life sciences industry, is rethinking its mission after 20 years.

The kind of train derailment that forced a mass evacuation in East Palestine, Ohio, is rare, but every city and town with freight tracks running through it must consider the possibility. In Indianapolis, derailment of a train carrying hazardous chemicals downtown would be a massive emergency affecting tens of thousands of people and the city’s economy, Mickey Shuey reports. Also in this week’s issue, Peter Blanchard explores findings that marginalized populations in the Indianapolis area have been enjoying a bigger share of economic gains. And Susan Orr reports that Steak n Shake has shaken a prolonged slump and returned to profitability as it focuses on self-service ordering.

Founded 25 years ago, Cunningham Restaurant Group is on the verge of opening its 40^th eatery and 16^th distinctive restaurant concept, ranging from crowd-pleaser Bru Burger to downtown’s Vida, which is the only central Indiana restaurant to earn AAA’s Four Diamond Award. Dave Lindquist pulls back the curtain on the next phase of its expansion plans. Also in this week’s issue, Peter Blanchard reports that the Indiana Economic Development Corp. has been paying a huge premium for the farmland its buying in Boone County for the LEAP Lebanon Innovation and Research District. And John Russell explains the debate brewing over how Indiana utilities will pay for transitioning to green energy.

The new headquarters site of Elanco Animal Health is buzzing with construction activity, but not everything at Elanco is quite as upbeat. John Russell reports that revenue has fallen in the last year and the firm’s share price has evaporated by two-thirds in the past 18 months. Also in this week’s paper, Susan Orr reports that Indianapolis-based Republic Airways and its flight school have sued dozens of former students the airline says failed to commit to fly with Republic after graduation. And Daniel Bradley outlines the changes in store for three northern suburbs with new mayors on the way.