The suit accused CEO Gary Wendt, President Bill Shea, Chief Financial Officer Charles Chokel and Chief Accounting Officer Jim Adams of engaging in a “massive and systematic coverup of … actual debts and losses through complex accounting, misleading disclosures, and irregular accounting practices.”
Bruce Frank, a former Roche Diagnostics manager, McKinsey consultant and pro basketball player, talks about changes in the medical device and life sciences industries.
An Arizona newspaper executive is set to take over as publisher of The Indianapolis Star, replacing Michael Kane.
Former Finish Line executive Kevin Flynn is now a partner and will handle the agency’s day-to-day operations, taking over from Paula MacVittie.
California-based Beckman Coulter Inc., which employs more than 500 people in the Indianapolis area, is up for sale, according to the Wall Street Journal. The company has hired Goldman Sachs Group Inc. to investigate a sale. After the Journal’s report, the company’s market value neared $5 billion. Potential buyers include private-equity firms such as the Blackstone Group and Apollo Global Management, or other companies in the medical-device industry, such as Illinois-based Abbott Laboratories, Germany-based Siemens or even Roche Diagnostics Corp. a Swiss company that operates its North American headquarters out of Indianapolis. Beckman’s testing machines are used in hospitals and medical research labs. In 2007, it moved more than 200 jobs to Indianapolis as it relocated its centrifuge development and manufacturing facilities. In October, Beckman announced plans to add 95 more jobs in Indianapolis over the next three years.
What is it about White County? In the same month that White County Memorial Hospital said it’s ready to merge with Indianapolis-based Clarian Health, now White County’s Monticello Medical Center is selling its four-physician family practice to St. Elizabeth Regional Health in Lafayette. St. Elizabeth is part of the Franciscan Alliance, which operates the three St. Francis hospitals in the Indianapolis area. Monticello, the White County seat, is about 30 miles north of Lafayette. St. Elizabeth will employ the four physicians, as well as three nurse practitioners, who collectively serve the largest percentage of White County residents. Locking up family practitioners is key for hospitals right now as they try to form themselves into “accountable care organizations” that will be paid by Medicare and private insurers for managing the long-term health of patients. Medicare’s rules will require accountable care organizations to provide family, or primary, care to at least 5,000 patients.
Indiana University’s health care budget will fall $24.9 million short of projected expenses in 2011-12, according to the Herald-Times of Bloomington, as a low-deductible Anthem Blue Access health care plan has become too expensive to offer to its 18,000 employees. IU trustee Tom Reilly Jr. implied that employees need to cover some of the extra costs.
Eli Lilly and Co. suspended a Phase 3 clinical trial of a skin-cancer drug after 12 patients in the study died, according to Bloomberg News. The deaths, among the 300 patients in the study, “may be treatment-related,” said Amy Sousa, a Lilly spokeswoman. Lilly was testing tasisulam on patients whose skin cancer had spread and who didn’t benefit from earlier treatment. No new or existing patients will be given the drug while the company evaluates safety data for the trial. But Lilly will continue to study tasisulam against breast, ovarian and renal cancers and against soft-tissue sarcoma, the company said.
The Indianapolis company expects the pact will boost revenue from $1 million now to more than $10 million in 2013.
Traditional colleges like Indiana University know they must shift to more online learning options or else lose students to upstart competitors using digital technology to offer college curriculum at greater convenience.
Hey, it worked for the U.S. Army, why not for hospitals too? According to the Zionsville Times-Sentinel, the Witham Health Services Foundation is offering to give out school loans to aspiring medical professionals that can be paid off simply by working for the Lebanon-based Witham hospital for at least one year after graduation. Otherwise, the student must repay the loan with interest. It’s a way for Witham, a growing but small hospital system, to compete for workers in a crowded Indianapolis-area hospital market. Students can obtain $2,000 through the loans, or $1,000 per semester. Only Boone County residents can apply.
Roche Diagnostics will develop a tool to use alongside the Tarceva therapy for lung cancer patients, a drug made by Roche’s pharmaceutical business. The companion diagnostic tool got the green light last month after Swiss firmRoche negotiated a license of intellectual property from Massachusetts-based Genzyme Corp., which will help it identify patients with gene mutations that activate EGFR, the epidermal growth factor receptor, leading to cancerous growth of cells. Roche wants Tarceva approved as a first-line treatment for such patients. The test, which is being co-developed with OSI Pharmaceuticals, would use the Cobas system that Roche sells to hospitals and other health care providers. Roche Diagnostics runs its North American sales and marketing out of its Indianapolis campus.
Indianapolis-based Home Health Depot Inc. has continued its recent growth by expanding into Michigan, with locations in Brighton and Grand Rapids. Earlier this year, the company added stores in Lafayette and Greenwood; Chicago and Bloomington, Ill. The company now has nine locations, and its workforce has grown to 120, from 18 two years ago. Also, in October, Home Health Depot acquired a home health care subsidiary from Arcadia Resources Inc., which is also based in Indianapolis. The company provides in-home medical equipment to patients.
Upstart hybrid vehicle maker plans to locate tech center in Rochester Hills, Mich. About 200 jobs and an $11 million investment were at stake.
The companies believe the underarm testosterone solution has the potential to realize sales of more than $1 billion a year in the United States.
Merck & Co. is betting it can succeed where Pfizer Inc. failed, with a new type of drug to combat heart disease by raising good cholesterol levels. Indianapolis-based Eli Lilly and Co. is testing a similar pill.
Eli Lilly and Co.’s $800 million acquisition of Avid Radiopharmaceuticals Inc. is the biggest step yet in the drugmaker’s attempt to add diagnostics to its product portfolio.
-MailSouth leased 129,600 square feet of industrial space at 7750 W. Morris St. The tenant was represented by Michael Weishaar and Kyle Powell of Cassidy Turley. The landlord, Duke Realty Group, was represented by Duke’s Glenn Davis.
-Roche Diagnostics Operations Inc. leased 88,004 square feet of industrial space at 7988 Centerpoint Drive. The tenant was represented by Drew Augustin and Mike Lubbers of NAI Olympia Partners. The landlord, ING Clarion Partners, was represented by Fritz Kauffman and Bryan Poynter of Cassidy Turley.
-DGP Intelsius LLC leased 13,508 square feet of industrial space at 7696 Zionsville Road in Park 100. The tenant was represented by Fritz Kauffman of Cassidy Turley. The landlord, Northview SPK Ltd., was represented by Chip Barnes of NAI Olympia Partners.
-Consolidated Electrical Distributors Inc. leased 10,000 square feet of industrial space at 5850 Kopetsky Drive in the Gateway South Industrial Park. The tenant was represented by Brian Buschuk of Jones Lang LaSalle. The landlord, Gateway South LLC, was represented by Bill Byram of Cassidy Turley.
-Bedel Financial Consulting leased 5,720 square feet at 3815 River Crossing Parkway, Suite 120. The tenant was represented by Darrell Pike of Pike Real Estate Services LLC. The landlord, Gibraltar Management Inc., was represented by Dan Richardson of CB Richard Ellis.
-St. Jude Enterprises LLC leased 3,109 square feet of office space at 3021 E. 98th St. The tenant was represented by Mike Macri of Ferguson Commercial Real Estate Services. The landlord, BREOF Keystone REO LLC, was represented by David A. Moore and Darrin L. Boyd of Cassidy Turley.
-Fast Signs leased 3,054 square feet at 3915 East 96th St. The tenant was represented by Mike Napariu of REI Real Estate Services. The landlord, PP Indianapolis III Project Corp., was represented by Mark Perlstein of Sitehawk Retail Real Estate.
-The South Bend Chocolate Co. leased 3,000 square feet of industrial space at 8904 Bash St. The tenant was represented by Richard King of Hokanson Cos. The landlord, Westminster Northeast LLC, was represented by Todd Vannatta and Bryan Miller of Cassidy Turley.
-Godfather’s Pizza leased 1,750 square feet at Rockville Shops, 5389 W. Rockville Road. The landlord, Rockville Dynasty LLC, was represented by Liz Yoho of Providence Development. The tenant represented itself.
-SkillStorm Commercial Services LLC leased 1,566 square feet of office space at 8440 Woodfield Crossing Blvd. The tenant was represented by Tom Ferguson of Premier Commercial Real Estate Services. The landlord, Cassidy Turley Midwest Inc., was represented by Darrin L. Boyd and David A. Moore of Cassidy Turley.
-Sagamore Benefits Group Inc. leased 1,546 square feet of office space at 8395 Keystone Crossing in the Keystone Office Centre. The tenant was represented by Paul Dick of Colliers International. The landlord, Sourwine Real Estate Services LLC, was represented by Andrew Martin of Cassidy Turley.
-Bolden Cleaners renewed its 950-square-foot lease at 12 Harbourtown Center, Noblesville. The landlord, Harbourtown Center LLC, was represented by Bill Ernst of Charter Commercial Realty Group. The tenant represented itself.
-Big D’s All American Hot Dogs subleased a 900-square-foot former Taco Bell at 3660 S. East St. The sublessor, Southern Bells Inc., was represented by Craig Ramsay of Sitehawk Retail Real Estate. The sublessee represented itself.
There’s a screening process we often use in the human resources process that’s meant to identify prospective candidates. It needs re-thinking.
Indiana firms have dismissed more than 1,400 life science workers over the last two years. Now BioCrossroads has launched a website that aims to keep that talent in the state.
Wall Street analysts on Thursday demanded to know what new things Eli Lilly and Co. is planning since the company’s vaunted pipeline has failed to produce a drug that will boost revenue after a wave of patent expirations. The answer: Not much.
Stock in Eli Lilly and Co., Amylin Pharmaceuticals Inc. and Alkermes Inc. dropped after they were rebuffed a second time in a bid to gain U.S. approval of a once-weekly version of the diabetes drug Byetta.
Indianapolis-based Eli Lilly and Co. will close its drug discovery center in Singapore, three years into a five-year, $150 million plan to expand it.
The site allows users to create and save sales proposals online. Those sending the proposals then can track who is viewing the documents, which parts they’re examining and for how long.
