Lilly shares slip after long-term Zyprexa rebuffed

DJIA 12,563.2 -135.1 / S&P 500 1,365.7 -14.4 / NASDAQ 2,330 -23.7 Tonight: Snow late, dusting to 2 inches. Low 29. Tomorrow: Wintry mix, gray and windy. High 39.
	Thursday, February 28, 2008
	Lilly shares slip after long-term Zyprexa rebuffed Shares of Eli Lilly and Co. fell this morning after the company announced regulators had rejected its application for a long-acting, injectible version of its best-selling drug, Zyprexa. Lilly's stock price fell roughly 2 percent, to $50.73. Long-acting Zyprexa, sometimes called Zyprexa Adhera or Zyprexa Depot, is intended to treat schizophrenia in patients who might struggle to take the drug as a daily pill.   Congress probes medical device payments After years of criticizing drug company gifts and payments to physicians, lawmakers have turned their scrutiny to similar tactics used by medical device companies. Executives from orthopedic makers Zimmer Holdings Inc. and Stryker Corp. testified at a Senate hearing Tuesday on gifts and consulting fees given to surgeons who use their implants. Warsaw-based Zimmer was one of four companies that agreed to pay $310 million last year to settle Justice Department charges that they gave doctors kickbacks to boost product sales.
	Delta Faucet cuts workers in Greensburg Carmel-based Delta Faucet Co. cut 20 workers at its plant in Greensburg, reports the Greensburg Daily News. The number represents about 25 percent of the facility's salary positions. Delta Faucet employees told the newspaper that they were told an undetermined number of hourly workers would be next to go.   Europe, Asia fuel Hurco profit Profit at Hurco Cos. Inc. soared 45 percent in its first fiscal quarter on a surge in sales in Europe and Asia. The Indianapolis-based machine tool maker reported $7.8 million in profit in the quarter ended Jan. 31.   Hummer plant dodging strike fallout - so far The AM General Corp. plant in Mishawaka, which makes the Hummer H2 sport-utility vehicle, hasn't been affected by the strike at American Axle & Manufacturing Holdings Inc., but could be if the strike lingers long enough, according to the South Bend Tribune. The Hummer plant is supplied by an American Axle site in nearby Three Rivers, Mich. The Three Rivers plant assembles front and rear propeller shafts and rear axles. About 800 workers at Three Rivers walked off their jobs this week as part of a strike across five plants owned by Detroit-based American Axle. Americans not inclined to spend rebate, poll shows Only 18 percent of people polled in a survey by Bloomberg and the Los Angeles Times said they plan to spend the federal government's rebate check when it comes. A third plan to save it and about another third said they'll pay off debt with the money. Congress approved the rebate checks with the expectation that about 40 percent would spend the money in order to stimulate the economy. Blog: In motorsports, does 1+1=3? Does Gov. Mitch Daniels' anointing of auto racing industry veteran Rollie Helmling as the state's motorsports development director - or the unification of the Indy Racing League and Champ Car - create more opportunities for motorsports businesses here? State officials say yes, but others in the industry aren't as optimistic. To weigh in, go to IBJ's new sports business blog, The Score. From IBJ staff - Compiled by Norm Heikens Police search for shooting suspect Indianapolis Metropolitan Police are looking for the shooter who sent a 22-year-old woman to the hospital in an apparent case of road rage. The incident took place around 1 a.m. near the 56th Street exit on Interstate 465 on the east side. Ronald Brooks was driving when he became involved in an incident with the suspect, who then fired several rounds from his handgun into Brooks' car, striking passenger Alnetta King in the abdomen. King is in the hospital in stable condition. Brooks and another passenger in the car weren't hurt. Fox 59 will have the latest at 10 p.m.
	Murder suspect connected to Pacer player A man arrested in the Broad Ripple area yesterday has ties to Pacer player Shawne Williams. Gary Bohannon, 20, is wanted in Memphis, Tenn., for a 2007 murder. He was seen leaving Williams' Carmel home and was arrested while riding in a truck registered to Williams. Bohannon is also known as Roosevelt Rollins. Last September, he was arrested under that name while riding with Williams. Bohannon is being held in the Marion County Jail without bond. Suspect wanted for targeting underage boys Police are looking for a man they say is targeting young boys for sex by posing as a businessman. The police chief at Pike Township school says the man comes off as a nice guy as he approaches young, black boys to talk about a job opportunity, but after calling them on the phone, the conversations quickly turn to sex. Police say he's been targeting Pike High School students as well as boys at Lafayette Square and Circle Centre malls.
	Assistant principal jailed A Fort Wayne school official is in jail after being accused of seducing a student. Wayne High School Assistant Principal Kristopher Sennett, 36, faces two counts of child seduction. During an investigation, school officials found e-mails that suggested Sennett and a 17-year-old girl were having a relationship, which the officials say Sennett confirmed. 'HHGregg' bill dies in Senate The screen has gone black on the so-called HHGregg bill in the General Assembly. Senate leaders yesterday decided to pull the plug on House Bill 1055, affectionately nicknamed by doctors and their allies for the televisions and other expensive gadgets patients mistakenly buy with checks they receive from health insurance companies. The bill, which passed in the House, would have required insurers to send payments to doctors, hospitals and other health care providers - even if those providers are "out-of-network," meaning they have not negotiated prices with a particular health insurer.
	Visit IBJ's Web site, www.ibj.com       Indianapolis Business Journal has launched a redesigned Web site with news updated throughout the business day.     At www.ibj.com you will find the latest business news from the Indianapolis area and around the state, video of IBJ events, CEO interviews from the Inside IBJ radio program, and our weekly podcast.
	Unsubscribe | Update Profile | Manage Subscriptions We respect your right to privacy - click here to view our policy. Copyright © IBJ Media Corp. 2007. All Rights Reserved. Privacy Policy Reproduction or use without permission of editorial or graphic content in any manner is strictly prohibited. Reprint orders: To request reprint permission contact IBJ's managing editor. Phone: 317-634-6200 - E-mail: managingeditor@ibj.com This email was sent by: IBJ Corporation 41 East Washington Street, Suite 200 Indianapolis, IN, 46204-3592, United States of America  *The Dow Jones Indexes(SM) are compiled, calculated and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of The Dow Jones Indexes(SM) Copyright © 2007 Dow Jones & Company, Inc.