In the context of sustainable development, industrial transfer, as an effective way to adjust the economic structure, should place more emphasis on green transformation and upgrading, and avoid the spatial replication of associated pollution. Taking listed pharmaceutical manufacturing enterprises as an example, this paper measures the domestic investment migration of local enterprises, through the separation of registered companies’ headquarters and investment subsidiaries from 2000 to 2017, and traces the total trend and characteristics of expansion and migration of enterprises from the provincial and urban scales. The results show that the transfer of pharmaceutical enterprises in China does occur and changes gradually with time; the inter-regional industrial transfer in China generally describes the pattern of the East leading, the Midwest focus, and the Northeast thin，highly in accordance with the Hu Line. The gradient and the inverse gradient transfer path coexist. Also, the one-way gradient migration situation from the east to the central and western regions is gradually being broken. The trend of two-way flow, multi-region as well as layout optimization is becoming more and more prominent.