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Pfizer, Novartis, and Shire are among nearly a dozen biopharma companies, research institutions, and developers building a combined 3.5 million plus square feet of lab and office space totaling more than $2 billion across Massachusetts. The list also includes research institutions like Broad Institute and developers like Alexandria Real Estate Equities. While companies are growing, with aided incentives like tax breaks, Massachusetts will face increasing competition from global emerging markets with their own incentives such as lower wages and less regulatory red tape.