INSIDE INDIANA BUSINESS: Lechleiter says Elanco deal 'transformative'

2014-04-22T12:43:00Z INSIDE INDIANA BUSINESS: Lechleiter says Elanco deal 'transformative'Gerry Dick Inside Indiana Business nwitimes.com
April 22, 2014 12:43 pm  • 

The chief executive officer of Eli Lilly and Co. says a $5.4 billion play for Novartis Animal Health will take its Greenfield-based Elanco unit "to the next level." John Lechleiter tells Inside INdiana Business the combination creating the world's second-largest animal health company will make Elanco a more prominent player in emerging markets around the globe and further help Lilly through a period of difficult patent expirations. Lechleiter says, while it's too early to quantify how the acquisition will impact Indiana operations, "as the business grows, it's reasonable to think Indiana-based employment for Elanco will grow."

Community Bank Announces Deal

New Albany-based Community Bank Shares of Indiana Inc. has reached an acquisition agreement with a Kentucky bank. The deal for First Financial Service Corp. is valued at close to $18 million.

Fort Wayne Zoo Details Major Project

The Fort Wayne Children's Zoo has detailed plans for a $7 million renovation of its Australian Adventure exhibit. The upgrades will include new stingray and crocodile exhibits.

Evansville to Launch Coworking Space

The Growth Alliance for Greater Evansville will unveil coworking space Wednesday at a downtown incubator. The Station will be located in Innovation Pointe and feature work space, conference rooms and access to mentoring services.

Several Hoosier Schools High on National List

Four high schools in Indiana are ranked among the top 500 in the country by a national publication. The annual U.S. News and World Report Best High Schools list rates more than 19,400 schools.

Indy Software Company Lands Funding

Indianapolis-based software company Salesvue says it has raised $3 million in capital. The funding was led by St. Louis-based venture capital firm Cultivation Capital.

Sign Maker Planning Indiana Jobs

Angola-based Illuminated Image has announced plans to expand in Steuben County and add 20 jobs by 2017. The sign manufacturer wants to pump more than $1 million into its operation, which currently employs three dozen.

ISU Begins Construction on Sports Facility

Indiana State University has broken ground on a $4.3 million track and field facility. The "Gibson Track and Field" complex is the first new sports venue on the Terre Haute campus since 1989. It will be part of the city's Riverscape development area.

Butler to Sell Hinkle Fieldhouse Seats

Butler University will sell hundreds of seats in June that were removed from Hinkle Fieldhouse as part of an ongoing $34 million renovation. The school says proceeds will help fund the upgrades as well as plans by People for Urban Progress to install seats in public spots around Indianapolis.

Library Unveils Newspaper Database Platform

The Indiana State Library has introduced an online platform allowing users access to the National Digital Newspaper Program's database. The library says the collection contains more than 14,000 issues and over 95,000 pages of content.

Simon Profit Jumps

Indianapolis-based Simon Property Group Inc. is reporting first quarter Funds From Operations of $865 million, compared to $742 million during the same period a year earlier. The company says its Washington Prime Group Inc. spin-off deal is expected to close in the second quarter.

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

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