Tuesday, March 4, 2003

Anthem largest Indiana company

The Associated Press

INDIANAPOLIS - Health insurer Anthem Inc. might not have as high a public profile in its home state as Eli Lilly & Co., but it has surpassed the drug maker as Indiana's largest company.

The switch in the top spot occurred last year, largely because of Anthem's $4 billion acquisition of Virginia-based Trigon Healthcare Inc.

Lilly's net sales, the method the company uses to measure its revenue, were $11.5 billion in 2001, ranking it No. 1 in the state and No. 171 on that year's Fortune 500 rankings of the largest U.S. companies. Anthem's total revenue that year was $10.4 billion, ranking it No. 2 in Indiana and No. 184 on the Fortune 500.

In 2002, Anthem took Indiana's top spot with $13.3 billion in total revenue. Lilly's net sales declined 4 percent from the previous year to $11.1 billion, largely because of declining drug sales from the loss of Lilly's Prozac patent in August 2001.

"Everyone always pays attention to Eli Lilly," said Duane Sobecki, an Indianapolis-based health care analyst for the consulting firm Focused Results. "But Anthem is really the one to watch."

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