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...notion that a marketplace is a better organizer of insight and predictor of the future than individuals are. Once confined to research universities, the idea of markets working within companies has started to seep out into some of the nation's largest corporations. Companies from Microsoft to Eli Lilly and Hewlett-Packard are bringing the market inside, with workers trading futures contracts on such "commodities" as sales, product success and supplier behavior. The concept: a work force contains vast amounts of untapped, useful information that a market can unlock. "Markets are likely to revolutionize corporate forecasting and decision making," says...
...Eli Lilly, one of the largest pharmaceutical companies in the world, which routinely places multimillion-dollar bets on drug candidates that face overwhelming odds of failure, wanted to see if it could get a better idea of which compounds would succeed. So last year Lilly ran an experiment in which about 50 employees involved in drug development--chemists, biologists, project managers--traded six mock drug candidates through an internal market. "We wanted to look at the way scattered bits of information are processed in the course of drug development," says Alpheus Bingham, vice president for Lilly Research Laboratories strategy...
...Minneapolis, Minn., saw net earnings rise 22.5%, to nearly $2 billion, in the past fiscal year, and that's great news for the company's new president and chief operating officer, William Hawkins, 50. Hawkins, an avid Duke University basketball fan, knows his competition; he has also worked for Eli Lilly, Guidant and Johnson & Johnson. The challenge for the biomedical engineer and former head of Medtronic's vascular business will be to keep the company hitting nothing but net. Next up on Hawkins' game plan: overseeing the launch of its first drug-coated cardiac stent in Europe later this year...
HEALTH CARE Kerry wants to import cheap drugs from Canada, which would hurt stocks like Pfizer, Merck and Eli Lilly. Bush opposes such imports. But hospital firms may do better with Kerry, who wants to expand Medicaid and give more patients the means to pay their bills. "Companies like HCA have been hindered by bad-debt expense," says Wendell Perkins of Johnson Family funds. "We like HCA anyway, but a Kerry win would make it more attractive...
Despite a valiant effort by the Crimson, Harvard falls to Yale 34-24 in the 117th Harvard-Yale Game. A strong Eli defense and turnovers sealed the Crimson’s fate...