« Back to Blog
  • Posted On Wednesday, January 29, 2025 by Evan Lamoliara

    Pharma 24

    Industrial SalesLeads announced today the Q4 2024 results for the new planned capital project spending report for the Pharmaceutical and BioTech industry. The Firm tracks North American planned industrial capital project activity including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 91 new projects in the pharmaceutical sector.

    Planned industrial project activity within the sector is up 6% YTD over the previous year. The following are selected highlights on new Pharmaceutical industry construction news.

    Pharmaceutical - By Project Type

                  Manufacturing/Processing Facilities - 55 New Projects

                  Laboratory Facilities - 27 New Projects

                  Distribution and Industrial Warehouse - 27 New Projects

    Pharmaceutical - By Project Scope/Activity

                  New Construction - 28 New Projects

                  Expansion - 22 New Projects

                  Renovations/Equipment Upgrades - 45 New Projects

                  Plant Closing - 5 New Projects

    Pharmaceutical - By Project Location (Top 5 States)

                  California - 8

                  Massachusetts - 8

                  Pennsylvania - 8

                  Illinois - 6

                  New Jersey - 5

    Largest Planned Project

    During the 4th quarter of 2024, our research team identified 7 new Pharmaceutical facility construction projects with an estimated value of $100 million or more. 

    The largest project is owned by Eli Lilly and Company, who is planning to invest $4.5 billion for the construction of a processing, laboratory, and research campus in LEBANON, IN. They are currently seeking approval for the project.

    Top 5 Tracked Pharmaceutical Projects

    WISCONSIN: 

    Pharmaceutical company is planning to invest $3 billion for the expansion of their processing facility in PLEASANT PRAIRIE, WI. They are currently seeking approval for the project. Construction is expected to start in 2025.

    NORTH CAROLINA: 

    Pharmaceutical company is planning to invest $2 billion for the construction of a processing campus in WILSON, NC. Construction is expected to start in Spring 2025.

    PENNSYLVANIA: 

    Pharmaceutical company is planning to invest $800 million for the construction of 2 processing facilities on their campus in MARIETTA, PA. Completion slated for late 2028.

    VIRGINIA: 

    Pharmaceutical company is planning to invest $200 million for the expansion of their processing facility at 2020 Avon Crt. in CHARLOTTESVILLE, VA. They have recently received approval for the project.

    MASSACHUSETTS : 

    Biotechnology company is investing $135 million for a 345,000 sf expansion and renovation of their office, laboratory, and storage facility on Northern Ave. in BOSTON, MA. They have recently received approval for the project.

    About Industrial SalesLeads, Inc.

    Since 1959, Industrial SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and Outsourced Lead Generation services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Lead Generation Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at salesleadsinc.com.

    Each month, our team provides hundreds of industrial reports within a variety of industries, including:

What to learn more? Get in Touch

Latest Posts

Get In Touch