Breaking Down SG&A Expenses: Biogen Inc. vs Apellis Pharmaceuticals, Inc.

A Tale of Two Biotech Giants: SG&A Expenses Over Time

In the competitive world of biotechnology, understanding the financial strategies of industry leaders is crucial. Biogen Inc. and Apellis Pharmaceuticals, Inc. have shown contrasting trends in their Selling, General, and Administrative (SG&A) expenses from 2014 to 2023. Biogen, a stalwart in the industry, maintained a steady SG&A expenditure, peaking at approximately $2.67 billion in 2021. This reflects a strategic focus on consistent operational investment. In contrast, Apellis Pharmaceuticals, a rising star, exhibited a dramatic increase in SG&A expenses, skyrocketing from a modest $2.9 million in 2014 to over $500 million by 2023. This 170-fold increase underscores Apellis's aggressive expansion and market penetration strategy. As these companies navigate the evolving biotech landscape, their financial decisions offer valuable insights into their growth trajectories and market positioning.