Lilly buys dairy hormone unit for $300M

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	Wednesday, August 20, 2008
	Lilly buys dairy hormone unit for $300M Elanco, a division of Eli Lilly and Co., will spend $300 million and an undisclosed "contingent consideration" to buy all rights to a popular dairy cow hormone and its sales and manufacturing operations from St. Louis-based Monsanto Co. Elanco has been selling the supplement, called Posilac, outside the United States for a decade. Now Elanco will employ Monsanto's U.S. sales force and own the Posilac factory in Augusta, Ga. Posilac, the trade name for bovine somatotropin, is widely fed to cows, boosting milk production upward of 10 percent.   MD Logistics plans expansion Plainfield distributor MD Logistics plans to expand its pharmaceutical warehouse and add 75 workers by 2012, the Indiana Economic Development Corp. said today. The $1 million project would add 15,000 square feet of cold storage. MD operates three sites in Plainfield totaling more than 750,000 square feet.
	Toyota sending some workers to Subaru plant The decision by Toyota Motor Manufacturing Indiana to stop assembling Tundra pickup trucks at its plant in Princeton will result in as many as 40 of its workers being transferred temporarily to the Subaru of Indiana Automotive Inc. assembly plant in Lafayette. Subaru, which assembles Camry sedans for Toyota, will absorb the Toyota workers as positions become available through attrition, according to The Journal & Courier of Lafayette.   Clarian Ventures invests in Minnesota firm Clarian Health Ventures found its latest investment in Minnesota via a Wisconsin venture-capital firm. But the company was right under Clarian's nose in Indianapolis. Clarian Health Ventures, the venture-capital arm of the Indianapolis-based hospital system, joined a gaggle of investors to pump $30 million into Minnesota-based Celleration Inc. The company has developed and won approval for a treatment that uses low-frequency ultrasound to speed healing of open wounds.   Escalade stops manufacturing in Evansville Escalade Inc., an Evansville-based sporting goods manufacturer, plans to close its final Evansville plant in an effort to restore profits and boost a sagging stock price. Table tennis production will be moved to Mexico beginning Sept. 5, causing 30 workers to lose their jobs, according to the Evansville Courier & Press. The table tennis cutback and others are a far cry from a heady era earlier in the decade when Escalade snapped up company after company through acquisition.   Cummins shares decline on analyst's concern Cummins Inc. shares fell yesterday after an analyst said the diesel engine maker's decision to add a key emissions technology to its heavy-duty engines to meet 2010 emissions standards could signal "disappointing" earnings after the standards kick in. The Columbus company said Aug. 13 that it will use Selective Catalytic Reduction, or SCR, exhaust after-treatment technology in making heavy-duty engines to boost fuel economy and meet the near-zero emissions required by the Environmental Protection Agency's 2010 regulations. Cummins already uses SCR technology in its mid-range engines.   412 to lose jobs as nerve gas operation closes Parsons Corp., a Pasadena, Calif., company that is destroying the V-X nerve gas stored at the Newport Chemical Depot in western Indiana, has started closing down the operation as the three-year project nears completion. Parsons has informed the Indiana Department of Workforce Development that it will begin laying off 412 workers at the site in two weeks and complete the closing in two years. The gas, accumulated during the Cold War, was destroyed after the U.S. signed an international treaty to eliminate chemical stockpiles; now all that remains is to dismantle the equipment used in the destruction.
	City could require payment before gas pumped The Jeffersonville City Council is considering an ordinance that would make drivers pay before pumping gasoline - an effort to reduce the number of people who speed away from gas stations without paying. The problem has become worse since fuel prices soared to $4 a gallon or more, said Police Chief Tim Deeringer. The police department gets up to 10 or 15 calls a day about drive-offs, Deeringer said, but often there is little police can do.   Happy birthday, Ben Harrison Actors who performed well as presidents. Lou Harry's A&E Vaunted program hits turbulence Ball State's entrepreneurship program may be sliding. NewsTalk IU's Crean chasing Hoeppner's record Basketball coach is pushing hard to unify Hoosier nation. The Score BW3 Defies city's request Buffalo Wild Wings is sticking with it's yellow facade. Property Lines
	From IBJ staff - Compiled by Norm Heikens Groundbreaking held for Greenwood park Greenwood leaders broke ground this morning on Freedom Park during a ceremony at Stop 18 and Averitt roads. The 72-acre project is touted as the area's largest park complex. When complete, it will feature a water park, dog park, playgrounds, gardens and sports fields. Initial work now will begin on the drainage system, a retention pond and biking and hiking trails. Freedom Park is slated to open in July 2010. Fox 59 will have more at 10 p.m. Indiana soldier killed in Afghanistan Staff Sgt. Kristopher Rodgers, 29, a native of Howe, Ind., died Saturday when a roadside bomb exploded near his vehicle. Rodgers left for Afghanistan in mid-June after serving a previous tour of duty in Iraq. He leaves behind a wife and a 3-year-old son. Visitation and funeral services will be held next week in Burr Oak, Mich., where he lived with his family. City seeks help to resolve foreclosure problem City officials put a new face on the foreclosure problem across the county this morning by presenting a map showing all foreclosures in Marion County from 2007. The map will be used to show the federal government the needs of the city in the hope of securing more funding. City officials also are calling on the banking industry to help tackle the problem. Stabbing leaves man injured Indianapolis police are investigating an early-morning stabbing that injured a man on the southwest side in the 4800 block of Beecher Street. Investigators say someone stabbed the man in the neck. He walked about a block before calling for help, and was taken to Wishard Hospital. Police have not released the victim's name or a possible motive.
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