Comparing Innovation Spending: Novartis AG and Bio-Techne Corporation

A Decade of Innovation: Novartis AG vs. Bio-Techne Corporation

In the ever-evolving landscape of biotechnology and pharmaceuticals, research and development (R&D) spending is a key indicator of a company's commitment to innovation. Over the past decade, Novartis AG and Bio-Techne Corporation have demonstrated contrasting scales of investment in R&D. From 2014 to 2023, Novartis AG consistently allocated substantial resources, with R&D expenses peaking at approximately $11.4 billion in 2023, marking a 25% increase from 2014. In contrast, Bio-Techne Corporation, while operating on a smaller scale, showed a remarkable growth trajectory, with R&D spending tripling from $30 million in 2014 to nearly $97 million in 2024. This growth underscores Bio-Techne's strategic focus on expanding its innovation capabilities. Notably, the data for Novartis AG in 2024 is missing, leaving room for speculation on its future R&D strategies. These insights highlight the diverse approaches to innovation within the industry.