History would say otherwise. Check out the history of most major drug companies and you will see that the point when they build a massive new headquarters/facilities expansion usually coincides with the peak in the stock. Why? Human nature at work: usually plans for these white elephants are drawn up after an extraordiary period of profits (such as after Lipitor profits went through the roof for PFE) and the company doesn't let well enough alone and a long serving CEO wants a monument to be remembered by.
Werq - You nailed it! hit it right on the head. BSC has several owners and upper management types close to retiring. These buildings are needed to some degree, but it appears that spending overall at BSC is out of control.