While  the Affordable Care Act with its tax on medical devices may be the  death knell for that industry in Indiana, for other busineses in the  Cornfield, the ACA may provide benefits.

For  the pharmaceutical industry, the decision amounted to a “slightly good  thing,” Telthorst said. Indianapolis-based drug maker Eli Lilly and Co.  saw its stock price rise Thursday, but only a slightly, up 17 cents to  close at $42.10.

Lilly  spokesman Greg Kueterman said the court’s upholding of the law means,  “We continue to do what we have been doing — helping to implement this  law. The court said we have to implement it and we are going to continue  to do that.”

The company  has criticized the new act for its creation of an Independent Payment  Advisory Board that will gain say over Medicare funding for drugs.  Keuterman reiterated Lilly’s criticism Thursday, saying the new  government panel gives “a board of bureaucrats ..... unchecked authority  to make cuts to the Medicare program really using cost as the only  cause,” he said.

In a  statement, Lilly Chairman, President and Chief Executive John Lechleiter  said that “even with today’s decision, we expect that the debate about  health care and health coverage will continue, and that further reforms  and changes are likely in the years ahead.”

The  legal decision also has big implications for Indianapolis-based  WellPoint, the second largest insurer in the country and by far the  largest in Indiana. About 4.million Hoosiers are covered under the  company’s subsidiary, Anthem Blue Cross and Blue Shield in Indiana. It  also employs about 4,300 people in Indiana.

Many  issues remain unresolved for health insurers. While WellPoint will  benefit from a large influx of new customers, it will also be required  to offer policies to people with pre-existing medical conditions, and  premiums will be determined by community ratings.

Angela  F. Braly, president and CEO of WellPoint, was not in town Thursday and  was unavailable for comment, company spokesman Tony Felts said. The  company released a statement, saying: “The road to implementing  health-care reform will be a challenge; however, we look forward to  working constructively with policymakers and other key stakeholders to  build a health-care delivery system that provides security and  affordability to all Americans.”

WellPoint’s  stock price fell $3.59, or about 5 percent, to close at $65.90. Its  rivals fared better, with UnitedHealth up slightly and Aetna down 2.71  percent. Analysts have said WellPoint had more at stake in the decision  than other insurers, which tend to be more diversified.

The  big question for WellPoint and other insurers is whether the larger  customer pool will offset the expense of the new coverage requirements.

http://indystar.com/article/20120628/BUSINESS/120628064/1001/NEWS

From the Cornfield, the full effect of the ACA will not be known until at least 2014.