Pharma-Biotech Spending On The Rise In North America

Research by Industrial Info Resources expects over $2.4 billion in capital and maintenance project spending in 2007.

According to recent research by Industrial Info Resources, the North American Pharmaceutical-Biotech Industry will see an increase in capital investment in 2007.

In the first 3 months of 2007, the industry expects more than $2.4 billion in capital and maintenance projects. Currently, 49 projects with an average total investment value (TIV) of $49 million are planned, more than a 100 percent increase on the 20 projects with a cumulative TIV of $1.2 billion in 2006, the report said.

By region, the Northeast has the largest share of project spending with 6 projects with a TIV of $882 million. In 2006, the region saw only $11 million in projects, the research showed.

In the Southeast, 14 projects are scheduled with a TIV of $397 million. This year’s spending is comparable to the $390 million in 2006, according to Industrial Info.

Additional projects are planned throughout the country, including a $200 million research center in Houston and a $25 million research institute Manitoba, the report noted.

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