Eli Lilly partnering with another pharma giant on a dementia drug

FILE - This Tuesday, July 17, 2012, photo shows the Eli Lilly corporate headquarters in Indianapolis. (AP Photo/Michael Conroy)

(WISH) – Slight sales tax increase at the pump continues into the New Year, and Eli Lilly is partnering with another pharma giant on a dementia drug.

Routine adjustments could cost you more when you fill up at the pump next month. Luckily for drivers, the increase is not drastic. The slight bump up is an adjustment on the sales tax to reflect month-to-month changes in the average price of gasoline per gallon, according to the Indiana House Republicans. Georgia, North Carolina and Florida have similar practices.

The Indiana House Republicans say the new collection process was established in July 2014. They say that come January the sales tax rate will increase just 0.2 cents which is a fifth of a penny.

Also making business headlines Thursday, Astrazeneca and Eli Lilly have announced they are expanding their unprecedented partnership to defeat dementia.

The pharmaceutical giants are collaborating to develop an Alzheimer’s drug.

The drug would bind to the protein in the brain which is associated with Alzheimer’s disease, to potentially slow the disease’s progression.

For more business headlines from Jane King at the Nasdaq, watch Daybreak Monday through Friday.

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