Breaking Down SG&A Expenses: Amgen Inc. vs Xencor, Inc.

A Tale of Two Biotechs: Amgen Inc. vs. Xencor, Inc.

In the competitive world of biotechnology, understanding the financial dynamics of industry giants like Amgen Inc. and emerging players such as Xencor, Inc. is crucial. Over the past decade, Amgen's Selling, General, and Administrative (SG&A) expenses have consistently dwarfed those of Xencor, highlighting the scale and operational breadth of this biotech behemoth. From 2014 to 2023, Amgen's SG&A expenses grew by approximately 31%, peaking in 2023, while Xencor's expenses surged by over 600%, reflecting its rapid expansion and increasing market presence. This stark contrast underscores the differing strategies and growth trajectories of these companies. As Amgen continues to leverage its established market position, Xencor's aggressive investment in SG&A signals its ambition to capture a larger market share. This financial narrative not only illustrates the evolving landscape of the biotech industry but also offers insights into the strategic priorities of these two distinct players.