Business briefs
New Bon-Ton owner won’t reopen Carson’
The new owner of Bon-Ton Stores Inc. does not have any immediate plans to resurrect the Carson’s store in Circle Centre mall, the company said early Monday.
Merrillville-based CSC Generation Holdings Inc., which acquired Bon-Ton’s intellectual property in bankruptcy court, said Indiana was not part of its initial plan to reopen stores.
Bon-Ton, the parent of Carson’s, Elder-Beerman, Boston Store, Younkers and other department store brands, filed for bankruptcy in January. The 120-year-old company was operating 260 stores in 24 states when it filed, including about 15 in Indiana.
Competitor beats Lilly to migraine drug OK
Teva Pharmaceutical Industries Ltd. has received U.S. regulatory approval to sell a new treatment for migraines, a key part of the company’s turnaround strategy.
The approval gives Teva a head start on Indianapolis-based Eli Lilly and Co., which is expected to seek approval for its own migraine therapy, galcanezumab, next month. Pain medications are the “next chapter of growth” for Lilly, CEO David Ricks told investors early this year.
The U.S. Food and Drug Administration approved Teva’s Ajovy, an injection administered every few months to relieve migraines in adults, the Israeli drugmaker said in a statement late Friday. More than 36 million people in the U.S. suffer from these debilitating episodes, and the medicine could generate around $500 million of sales by 2022, according to analyst estimates compiled by Bloomberg.
For-profit Harrison College going out of business
Indianapolis-based Harrison College is calling it quits, the for-profit school announced Friday.
Harrison, which was founded in Marion in 1902 as Indiana Business College, said it “made the difficult business decision to close operations effective Sunday,” except for its Chef’s Academy, which will close Oct. 14 at the end of the current semester.
The college has 10 campuses in Indiana, Ohio and North Carolina. Three of those campuses are in Indianapolis. Its main address is at 550 E. Washington St.
The school has about 2,000 students, down from about 4,000 earlier this decade.
