Strattera generated U.S. sales of $445.6 million last year, and each day that Lilly can fend off generic competition would
translate into an average $1.22 million in sales.
The company is seeing a rush of new sales for its Web-based electronic medical record system from doctors, who all stand to
receive bonus payments from the federal stimulus act for computerizing their patient records.
Venture capitalists in Indiana and nationally have thrown money at the company with abandon. Local investors include CID Capital,
Clarian Health Ventures and the Indiana Future Fund.
Marian University in Indianapolis has named the founding dean of an Atlanta-area medical school to head up the school for
osteopathic doctors it plans to open in 2012.
The California Department of Insurance said Wednesday it approved a rate increase averaging about 14 percent for Anthem Blue
Cross customers. The department also OK’d a nearly 19-percent increase for Blue Shield of California.
Family and Social Services Administration Secretary Anne Murphy and acting Insurance Commissioner Stephen Robertson have sent
Gov. Mitch Daniels a letter that now estimates the overhaul will cost Indiana $235 million more than the previous estimate
in May.
Diabetics who control their disease with pills instead of frequent insulin injections can thank Dr. William R. Kirtley, a
groundbreaking Eli Lilly researcher.
Bankrolled by yet another multimillionaire, the historic preservation group is preparing to move into a new headquarters
in Old Centrum, a former church now undergoing a big renovation.
The Roudebush Veterans Affairs Medical Center and the Indiana Health Information Exchange are going to work to make
their medical record systems talk to each other in a pilot project spearheaded by the U.S. Department of Veterans Affairs.
Even with debt levels at Eli Lilly and Co. at paltry lows, a string of bad news finally forced Standard & Poor’s
to lower
its rating on the company’s senior unsecured debt. But the New York-based agency said it believes the Indianapolis-based
drugmaker will eventually break its string of bad luck on developing new products.
Ben Bernanke may be worried about deflation in the economy, but there’s certainly no chance of it in health care and
insurance. Employers’ health plan premiums surged another 8 percent this year, according to results from a massive survey
by Indianapolis-based United Benefit Advisors.
The state will use the money to review proposed premium increases. It also will look at best practices in other states to
identify areas where it can strengthen health insurance laws and rules.
St. Vincent Health is moving aggressively to expand its transplant program in a direct challenge to Clarian Health’s dominance
in the field. The Indianapolis-based hospital system filed in July for permission to conduct pancreas transplants. And down
the road, it’s eyeing liver and maybe even lung transplants.
Two former Eli Lilly and Co. employees launched the firm that promises to attract more clinical trial business to the state.
Outside advisers to the Food and Drug Administration voted 8-6 Thursday in favor of a broader use of Cymbalta on the basis
of studies in lower back pain and osteoarthritis of the knee.
The invalidation of Lilly’s Strattera patent opened the door for as many as 10 companies to sell generic versions of the drug,
which generated U.S. sales of $445.6 million last year as a treatment for attention deficit hyperactivity disorder.
The company, headquartered at Purdue Research Park, said the number of shares to be offered and their price range have yet
to be determined.
A dozen potential products designed to slow or stop clumps of protein from forming in the brain, a condition linked to the
disease since 1906, have failed in mid- to late-stage testing since 2003.
What a tough week for Lilly. On Aug. 12, a judge struck down the Indianapolis-based drugmaker’s U.S. patent on Strattera,
which might cost the company about $450 million in annual revenue. Then, five days later, Lilly halted clinical trials on
one
of its experimental Alzheimer’s medicines, because patients did worse on the drug than on a placebo.
Dr. Kevin Macadaeg, vice president of the Indiana Spine Group, talked about his physician
group's decision to build a 60,000-square-foot medical office and "bioskills" lab in Carmel next year, as well
as the group's commitment to grow independently in the face of pressures from hospital acquisitions and health reform.
