Biogen Inc. or ImmunityBio, Inc.: Who Manages SG&A Costs Better?

Managing SG&A Costs: Biogen Inc. vs. ImmunityBio, Inc.

In the competitive landscape of biotechnology, managing Selling, General, and Administrative (SG&A) expenses is crucial for maintaining profitability. Biogen Inc. and ImmunityBio, Inc. have taken different paths in this regard over the past decade. From 2014 to 2023, Biogen Inc. consistently reported higher SG&A expenses, averaging around $2.3 billion annually. In contrast, ImmunityBio, Inc. maintained a much leaner operation, with average annual expenses of approximately $90 million.

Biogen's SG&A costs peaked in 2021, reaching nearly $2.7 billion, while ImmunityBio's highest expenditure was in 2015, at $226 million. Despite the disparity in absolute numbers, both companies have shown a commitment to optimizing their operational efficiencies. Biogen's expenses have grown by about 14% over the decade, whereas ImmunityBio's costs have fluctuated, reflecting its dynamic growth strategy. This analysis highlights the diverse approaches to cost management in the biotech sector.