INSIDE INDIANA BUSINESS: Clock ticking on Cymbalta protection

2013-12-09T12:38:00Z 2013-12-09T18:00:09Z INSIDE INDIANA BUSINESS: Clock ticking on Cymbalta protectionGerry Dick Inside Indiana Business nwitimes.com
December 09, 2013 12:38 pm  • 

An associate professor of finance at the University of Indianapolis believes Indianapolis-based Eli Lilly and Co. will be leaner moving forward. Matt Will says Lilly has been cutting expenses in preparation for Wednesday's U.S. patent expiration of its depression medication Cymbalta, which accounted for 22 percent of revenue last year. He says the company hopes decreasing payroll expenses and beefing up research and development will help offset an "obvious" drop in future revenue. Lilly hopes to launch multiple drugs next year, including diabetes and cancer treatments. Will believes the company "will not be the same Lilly" in five years.

More Schools Suing IRS Over ACA

Two dozen Hoosier school corporations have joined 15 others in a lawsuit against the U.S. Internal Revenue Service. The filing involves part of the Affordable Care Act which would impose financial penalties on employers that do not offer health insurance to those working more than 30 hours per week.

Lake City Bank Builds on Fort Wayne Growth

The president of Warsaw-based Lake City Bank believes the plan to open a branch in a $71 million downtown Fort Wayne development is "a natural extension" of the company's growth in the market. David Findlay says Lake City already has more deposits in Allen County than other Indiana-based banks. The company is planning an office in the new Ash Brokerage Corp. headquarters.

Organization Accepting Cook Cup Nominations

Indiana Landmarks is seeking nominations for a statewide prize honoring historic structure restoration. The organization will award the Cook Cup in April.

Allegion Rings Opening Bell

Executives from Ireland-based Allegion PLC rang the opening bell this morning on the New York Stock Exchange. The company is a spinoff from Ingersoll-Rand PLC (NYSE: IR) and has its U.S. headquarters in Carmel.

Former State Rep Starts Public Affairs Company

A former state representative has launched a public affairs company in southwest Indiana. Sally Rideout is behind Rideout Public Affairs. She was elected to the Indiana House in 1994 and has also served as a vice president with the Chamber of Commerce of Southwest Indiana.

Regency Announces Louisiana Acquisition

Evansville-based Regency Properties has acquired a shopping center in Louisiana. The company says the deal for the 128,000 square-foot property in DeRidder adds to its focus on county seat communities. Regency now has properties in 10 states.

Peoplelink Announces Deal For Texas Company

South Bend-based Peoplelink Staffing Solutions has acquired MEP Inc. of Dallas, Texas. The deal gives the Indiana company a larger presence in cities including Dallas, Austin and Phoenix. It also expands Peoplelink's construction trades brand.

Eskenazi Health Up And Running

The transformation of Wishard Health to Eskenazi Health in Indianapolis continues. The Eskenazi Health Outpatient Care Center started caring for patients today, following Saturday's transfer of patients from the old Wishard Hospital to the new Sidney & Lois Eskenazi Hospital.

Purdue Series Highlights Rural Areas

Purdue University researchers are trying to help state leaders address needs in rural communities. A series of publications focusing on quality-of-life issues is being released through the university's extension office. The research focuses on how population and other changes are potentially shaping the future of rural Indiana.

Project Lead The Way Supporting Coding Effort

Indianapolis-based Project Lead The Way Inc. is participating in a national initiative designed to boost interest in computer sciences. As part of Computer Science Education Week which begins today, the science, technology, engineering and math curriculum provider will take part in Code.org's "Hour of Code" event.

For more Inside Indiana Business, visit www.insideindianabusiness.com.

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