IU Health to lay off 800 employees
The Indianapolis-based hospital system said Thursday it must make the cuts because fewer patients have been coming to hospitals and payment rates for its services have been declining.
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Drugmakers turn up marketing efforts in diabetes market
With a half-dozen new products lined up for approval within two years, the fight to win the growing $22 billion U.S. diabetes market is expected to intensify.
Lilly cites ‘deep concerns’ over China kickback allegations
Eli Lilly and Co. said it is investigating allegations its employees paid Chinese doctors at least $4.9 million in bribes and kickbacks to promote the sales of two diabetes drugs.
Lilly lung cancer drug raises patient survival in trial
If approved, the drug would be a potent boost to Lilly’s product portfolio. It would also mean a critical new therapy for a cancer that’s proven difficult to treat.
Zotec Partners plans $200 million acquisition
Acquisition of Atlanta-based medical billing firm would zoom annual revenue at Carmel-based Zotec from $85 million to $215 million. The combined companies would employ 1,750 people.
Lilly freezes pay for workers, executives
The pay freeze will save $400 million through 2016, said a spokesman for the Indianapolis-based company. Lilly won’t give pay raises to executives, supervisors or most employees. Some bonuses will also be reduced.
WellPoint rolls out program with cost ceilings for procedures
Under so-called reference-based benefits, insured patients would have to pay the difference between procedure prices and maximums set by their employers. Several Indiana companies are considering using the tactic.
Lilly aims potential Alzheimer’s drug at early patients
The trial of 2,100 patients, called Expedition III, will use new measures of cognitive function, such as the ability to do tasks like cooking or driving, or remembering words after a delay.
Health tech startup aiming for fences
Flying under the radar for much of its existence, local health tech startup hc1.com Inc. now thinks it’s ready to soar. The company, spun out last year from Zionsville-based Bostech Corp., is on pace to generate annual revenue of $10 million by year’s end. And it thinks business could triple next year.
Lilly’s Lechleiter back at helm after health scare
Eli Lilly and Co. Chairman and CEO John Lechleiter is back to full-time work after taking a leave in May to have surgery for a dilated aorta, the company announced Monday morning.
St. Vincent Health eliminating about 865 jobs in Indiana
It was not clear how many workers were losing their jobs in the Indianapolis area. However, people familiar with the cuts said the reductions were heavy in the administrative ranks, and many of those jobs are on the city’s north side.
Lilly’s experimental diabetes drug helps patients lose weight
Lilly’s drug, if approved, may be a significant competitor to Novo Nordisk A/S’s Victoza, which generated $1.64 billion in 2012.
Lilly’s Zyprexa injection probed by FDA after deaths
Eli Lilly and Co.’s injectable form of the antipsychotic Zyprexa is being investigated by U.S. regulators after two patients died three to four days after receiving the drug.
Drugmakers may face ‘pay for delay’ suits, high court rules
Drug companies like Eli Lilly and Co. can be sued for paying rivals to delay low-cost versions of popular medicines, the U.S. Supreme Court said in a decision that rewrites the rules governing the release of generic drugs.
Lilly to take over development of diabetes drug
Eli Lilly and Co. will pay Canadian drug developer Transition Therapeutics Inc. at least $7 million and up to as much as $247 million to take over the development of a potential diabetes treatment.
Lilly halts trial of experimental Alzheimers drug
The trial ended after participants showed abnormal liver biochemistry, the Indianapolis-based drugmaker said Thursday in a statement.
Caponi to step down as St. Vincent system CEO
After overseeing 15 years of massive growth via mergers, Vince Caponi will become an executive of St. Vincent Health’s parent organization.
Planned Parenthood affiliates in Indiana, Kentucky to merge
The new not-for-profit organization is expected to be named Planned Parenthood of Indiana and Kentucky—or PPINK—and continue to operate the 28 existing health centers between the two states.
IU Health agrees to sell occupational health clinics
US HealthWorks Medical Group, which specializes in workers’ compensation cases, agreed in May to acquire the eight clinics. The deal is expected to close before the end of June.
Drug sold by Lilly tops Avastin in colon cancer survival study
Patients who got Erbitux together with chemotherapy as a first-line treatment lived about four months longer than those who got Avastin with chemotherapy, according to the 592-person study.