The U.S. life sciences real estate sector is experiencing some turbulence in 2025, as business uncertainty contributed to a sharp drop-off in demand in the first quarter, but a notable uptick in pharma companies announcing U.S. investments could lead to a boom in domestic biomanufacturing. JLL’s latest U.S. Life Sciences Property Report details that 15 major pharmaceutical companies year-to-date have announced more $270 billion in U.S. biomanufacturing and R&D investments planned over the next five to 10 years, driven by the threat of additional pharmaceutical tariffs and other cost pressures. The report also highlights several key trends shaping the sector, including declining leasing activity in the first quarter, downward pressures on rents, shrinking inventory, smaller deals dri
