Operational Costs Compared: SG&A Analysis of Regeneron Pharmaceuticals, Inc. and Iovance Biotherapeutics, Inc.

A Decade of SG&A: Regeneron vs. Iovance

In the competitive landscape of biotechnology, operational efficiency is key. Over the past decade, Regeneron Pharmaceuticals, Inc. and Iovance Biotherapeutics, Inc. have demonstrated contrasting trends in their Selling, General, and Administrative (SG&A) expenses. Regeneron, a giant in the industry, has seen its SG&A expenses grow from approximately $505 million in 2014 to a staggering $2.63 billion in 2023, marking a more than fivefold increase. This reflects its expansive growth and investment in administrative capabilities. Meanwhile, Iovance, a smaller player, has increased its SG&A expenses from around $9 million to $107 million over the same period, a tenfold rise, indicating its aggressive push to scale operations. These figures highlight the differing strategies of these companies: Regeneron's focus on maintaining its market dominance and Iovance's ambition to carve out a significant niche. Understanding these trends offers valuable insights into their operational priorities and future trajectories.