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Released July 14, 2015 | SUGAR LAND
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Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--Within the next three months, the Pharmaceutical-Biotech Industry is expected to launch nearly $6.4 billion worth of North American capital and maintenance (MRO) projects. An analysis by Industrial Info's Pharmaceutical Tracker - Online Database of active capital and MRO projects shows that a 68% jump in spending--from third-quarter 2014's $3.8 billion.
Click on the image at right for a breakdown of Pharmaceutical-Biotech Industry capital and maintenance projects by market region.
Actual project counts also indicate a gain for third-quarter 2015, moving up to 256 from the 228 that were launched during third-quarter 2014. The projects' average total investment value (TIV) went up in third-quarter 2015 to $25 million, from third-quarter 2014's $16.5 million. Of course, it is important to remember that these numbers can be skewed due to the launch of several large-dollar projects within the same quarter, or the lack thereof.
Currently, the largest of the third-quarter 2015 project starts is Northwestern University's (Evanston, Illinois) $500 million investment in the Feinberg School of Medicine Biomedical Research Center. Designed by Perkins + Will (Chicago, Illinois), the construction of a 600,000-square-foot building will be the first phase of a total build-out of 1.2 million square feet of biomedical research space. After years of planning and design changes, barring any major obstacles, the project will begin construction next year. Other team members include Affiliated Engineers (Madison, Wisconsin) and Thornton Tomasetti (Chicago).
In terms of TIV and regional location of projects, the Great Lakes region leads with 29 projects, representing $1.6 billion, that are set to kick off within the third quarter. In addition to the aforementioned Northwestern Feinberg project, plans in the region include Procter & Gamble's (NYSE:PG) (Cincinnati, Ohio) decision to construct a $350 million Beauty Innovation Center in Mason, Ohio. The massive, 500,000-square-foot facility will consolidate and expand research and pilot-scale manufacturing serving the company's hair care, skin care, and other personal care and grooming lines.
The Midwest region garnered second place with proposed investments of $712 million for 23 construction starts. Helping secure the region's standing is the planned start of the $83 million Boehringer Ingelheim Vetmedica (Fort Dodge, Iowa) project to expand its animal solid dose and vaccine plant.
The New England region rounds out the top three with a respectable 16 projects translating into a $687 million investment. Adding to that total is Genzyme's (NASDAQ:GENZ) (Cambridge, Massachusetts) planned, $85 million Downstream Process (DSP) Facility Addition at the company's campus in Framingham, Massachusetts.
There always remains the possibility that a number of these projects will be delayed, put on hold, or canceled. The individual status of each of the 256 projects will be monitored for changes, just as other third-quarter 2015 project starts will be added as they are uncovered.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
Click on the image at right for a breakdown of Pharmaceutical-Biotech Industry capital and maintenance projects by market region.Actual project counts also indicate a gain for third-quarter 2015, moving up to 256 from the 228 that were launched during third-quarter 2014. The projects' average total investment value (TIV) went up in third-quarter 2015 to $25 million, from third-quarter 2014's $16.5 million. Of course, it is important to remember that these numbers can be skewed due to the launch of several large-dollar projects within the same quarter, or the lack thereof.
Currently, the largest of the third-quarter 2015 project starts is Northwestern University's (Evanston, Illinois) $500 million investment in the Feinberg School of Medicine Biomedical Research Center. Designed by Perkins + Will (Chicago, Illinois), the construction of a 600,000-square-foot building will be the first phase of a total build-out of 1.2 million square feet of biomedical research space. After years of planning and design changes, barring any major obstacles, the project will begin construction next year. Other team members include Affiliated Engineers (Madison, Wisconsin) and Thornton Tomasetti (Chicago).
In terms of TIV and regional location of projects, the Great Lakes region leads with 29 projects, representing $1.6 billion, that are set to kick off within the third quarter. In addition to the aforementioned Northwestern Feinberg project, plans in the region include Procter & Gamble's (NYSE:PG) (Cincinnati, Ohio) decision to construct a $350 million Beauty Innovation Center in Mason, Ohio. The massive, 500,000-square-foot facility will consolidate and expand research and pilot-scale manufacturing serving the company's hair care, skin care, and other personal care and grooming lines.
The Midwest region garnered second place with proposed investments of $712 million for 23 construction starts. Helping secure the region's standing is the planned start of the $83 million Boehringer Ingelheim Vetmedica (Fort Dodge, Iowa) project to expand its animal solid dose and vaccine plant.
The New England region rounds out the top three with a respectable 16 projects translating into a $687 million investment. Adding to that total is Genzyme's (NASDAQ:GENZ) (Cambridge, Massachusetts) planned, $85 million Downstream Process (DSP) Facility Addition at the company's campus in Framingham, Massachusetts.
There always remains the possibility that a number of these projects will be delayed, put on hold, or canceled. The individual status of each of the 256 projects will be monitored for changes, just as other third-quarter 2015 project starts will be added as they are uncovered.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
