Analyzing R&D Budgets: Novartis AG vs Amgen Inc.

A Decade of Innovation: R&D Spending by Novartis AG and Amgen Inc.

In the competitive landscape of pharmaceuticals, research and development (R&D) is the lifeblood of innovation. Over the past decade, Novartis AG and Amgen Inc. have demonstrated their commitment to advancing medical science through substantial R&D investments. From 2014 to 2023, Novartis AG consistently outpaced Amgen Inc. in R&D spending, with an average annual budget nearly double that of its counterpart. Notably, Novartis AG's R&D expenses surged by approximately 25% from 2014 to 2023, peaking at over $11 billion in 2023. Meanwhile, Amgen Inc. showed a steady increase, with a notable 34% rise in R&D spending over the same period, reaching nearly $4.8 billion in 2023. This financial dedication underscores the strategic focus of both companies on pioneering new treatments and maintaining their competitive edge in the global market.