Despite some setbacks in 2006 for the pharmaceutical-biotech industry, especially Pfizer's problems with its Torcetrapib cholesterol drug, the more than $16 billion capital and maintenance projects planned for North America in 2007 suggests a healthy industry, according to Industrial Info Resources' latest 2007 Pharmaceutical-Biotech Industry Forecast.
It has been a tough year for the big pharma industry. Pfizer's new cholesterol drug was expected to bring annual profits of up to $15 billion, according to industry analysts. Pfizer had invested almost $1 billion on the drug, which, after clinical trials, was shown to increase the risk of death.
Industrial Info's research notes the industry is maturing, making it ripe for change as it continues to grow.
As it once was for the pharma industry, the biotech sector is now involved in huge capital investment programs to build up capacity to accommodate a big pipeline of new drugs.
The pharma sector is deeply investing in R&D of new products, as it temporarily cuts back on grassroot plant construction in North America, the study reports.