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.
International Business
Articles
Indiana exports hit record, but growth slows
Indiana exports rose to a record $34.4 billion in 2012 while growing at a rate exceeding the Midwest’s and the nation’s.
Pence plans first trade mission to Japan as governor
Pence's office announced Monday the delegations will leave Sept. 5 and return nine days later after visiting Tokyo, Nagoya and Tochigi Prefecture, Indiana's Japanese sister-state.
Pence, Coats, German diplomat tout jobs alliance
Indiana and German leaders are focusing on training Indiana residents to fill the skills gap between available work and unemployed Hoosiers.
Hurco acquires Italian machine-tool component business
Hurco, which designs and produces interactive computer controls, software and computerized machine tools, does most of its business in Europe.
Passage to India: Ballard leading weeklong trade trip
The Indianapolis delegation will hit the cities of Hyderabad and New Delhi. Visits will focus on information technology, life sciences, and research groups, organizers said.
Chamber prez Miller resigns after 18 months
Scott Miller, 45, will leave the Indy Chamber after a short tenure that included leading the body through mergers with several like-minded groups. He tells IBJ he felt that he had already accomplished his major goals and wanted to shift to the private sector.
Indianapolis chamber absorbs World Trade Club
The 46-year-old World Trade Club of Indiana is becoming part of the Indy Chamber—a move organizers hope will give the not-for-profit additional firepower as it works to educate, connect and grow Hoosier businesses in the international marketplace.
Hillenbrand diversifies by growing whole new business
Casket company turns heads with aggressive foray into equipment manufacturing.
Lilly agrees to pay $29.4M to settle SEC bribery charges
According to a statement released by the SEC, Eli Lilly paid $6.5 million—and in some cases gave jewelry and spa treatments—to win government contracts in Brazil, China, Russia and Poland.
Lilly notifies Canada about NAFTA complaint on Strattera patent
Eli Lilly and Co. notified Canada it plans to file a trade complaint, claiming court decisions invalidating one of the company’s patents breach international obligations.
Lilly chief says China too slow in approving new drugs
China takes eight years longer on average to approve drugs than other major countries, and U.S. drugmakers are looking at ways to help speed things up, Eli Lilly and Co. CEO John Lechleiter said.
U.S. colleges look to foreign students to help bottom line
New figures show international enrollment at U.S. colleges and universities grew nearly 6 percent last year, driven by a 23-percent increase from China. Growth is even higher at Midwest schools like Indiana University and Purdue.
Steak n Shake opening in United Arab Emirates
The Indianapolis-based restaurant chain struck a deal to open 40 locations starting next year in the Middle Eastern country, its first venture outside the United States.
U.S. Department of Commerce recognizes Indianapolis exporter
Hoosier Gasket Corp. received the Export Achievement Award for its recent success in Eastern Europe and China.
Pence seeks affordable college; Gregg after more trade
The two leading candidates for governor offered starkly different plans for improving the state's economy Thursday. Democrat John Gregg wants the state to increase exports by 50 percent. Mike Pence pushed for programs to help students graduate from college within four years.
Indiana University planning global studies school
Indiana University is planning a School of Global and International Studies in an effort to draw more attention to its international programs.
Cummins cools off, but Seymour expansion still in works
Cummins Inc.—a company that quadrupled its profits in two years—has shifted to cost-cutting mode amid a drop in global sales, but the Columbus-based engine manufacturer says it’s still on track to increase sales from $18 billion in 2011 to $30 billion in 2015.
Lilly braces for decline in Europe
Austerity and upheaval in Europe have not hurt Eli Lilly and Co.’s $4 billion-a-year drug business there, but the company is moving forward with plans to survive a coming swoon anyway.
Chinese business advisers set to scout Indiana sites
A group of 20 advisers to Chinese businesses looking to expand in the United States plan to visit several Indiana sites starting Wednesday.