This is a classic example why governments cannot be given too much power. The government should be given power to sieze land for the greater good. Some acceptable examples would be to build roads, or airports, or military bases. But personally I do not feel it is the right of the government to take your house so they can build a shopping mall or turn the land over to a factory. Government should be given the right to take property if they intend to use it, but they cannot take land from one private citizen and give it to another private citizen to increase tax revenue.
Sadly, the one weakness of our republic is the Supreme Court. Members of the Supreme Court have no term limits and the only way they can be overturned is through constitutional ammendments which are too hard to pass. Even then the Justices interpret the constitution to meet their own personal value system. If they allow this land in Connecticut to be given to the pharmaceutical company then none of us are safe. Local municipalities everywhere will begin siezing homes and giving them to big corporations to drive up jobs and tax revenue all in the name of eminent domain. Your house may be next.