Operational Costs Compared: SG&A Analysis of Amgen Inc. and ImmunityBio, Inc.

A Decade of SG&A: Amgen Inc. vs. ImmunityBio, Inc.

In the ever-evolving pharmaceutical landscape, operational efficiency is paramount. Over the past decade, Amgen Inc. and ImmunityBio, Inc. have showcased contrasting trajectories in their Selling, General, and Administrative (SG&A) expenses. Amgen, a titan in the biotech industry, consistently reported SG&A expenses averaging around $5.3 billion annually, peaking at $6.2 billion in 2023. This reflects a steady growth of approximately 31% from 2014. In contrast, ImmunityBio, a burgeoning player, exhibited a more volatile pattern, with expenses surging from a modest $4.3 million in 2014 to $129.6 million in 2023, marking an astronomical increase of nearly 2,900%. This stark difference underscores the diverse strategies and growth phases of these companies. As Amgen consolidates its market position, ImmunityBio's rising SG&A expenses highlight its aggressive expansion and investment in future growth.