Biotech & Pharmaceuticals Hotspot Where the Money is: New England Brings In $2 Billion of Pharmaceutical-Biotech Investments
New England enters 2016 with sizable lucrative contracts. Still, the investments are down from the US $ 8.4 billion reported in 2014.
Sugar Land, Texas/USA –New England, an established center of the life science industry, enters the New Year with just over US $ 2 billion for 43 capital and MRO (maintenance, repair and overhaul) projects scheduled to start within the next 12 months. This is a projected increase of 25% over the region's 2015 kick-off count.
New England is home to established biotech and pharmaceutical companies, as well as start-ups. The region also benefits from the presence of universities and research institutes renowned in the life sciences and considerable governmental financial support. The 2016 projects originate from both the private and public sector, and range from US $ 1 million annual maintenance programs to a US $ 300 million campus laboratory.
A chart showing the breakdown of 2016 Pharmaceutical-Biotech Industry projects in the New England region.
A sample of the projects includes:
- Siemens' (Munich, Germany) US Healthcare Diagnostics division is spending $300 million to renovate and expand its existing 577,000-square-foot campus in Walpole. Massachusetts.
- In Norton, Massachusetts, Alnylam Pharmaceutical (Cambridge, Massachusetts) plans to build a $100 million RNA interference (RNAi)-based therapeutics plant.