| __timestamp | AbbVie Inc. | Iovance Biotherapeutics, Inc. |
|---|---|---|
| Wednesday, January 1, 2014 | 3297000000 | 2704597 |
| Thursday, January 1, 2015 | 4285000000 | 15470000 |
| Friday, January 1, 2016 | 4366000000 | 28037000 |
| Sunday, January 1, 2017 | 4982000000 | 71615000 |
| Monday, January 1, 2018 | 10329000000 | 99828000 |
| Tuesday, January 1, 2019 | 6407000000 | 166023000 |
| Wednesday, January 1, 2020 | 6557000000 | 201727000 |
| Friday, January 1, 2021 | 7084000000 | 259039000 |
| Saturday, January 1, 2022 | 6510000000 | 294781000 |
| Sunday, January 1, 2023 | 8453000000 | 344077000 |
| Monday, January 1, 2024 | 12791000000 |
Unleashing the power of data
In the dynamic world of biotechnology, research and development (R&D) expenses are a critical indicator of a company's commitment to innovation. Over the past decade, AbbVie Inc. and Iovance Biotherapeutics, Inc. have demonstrated contrasting strategies in their R&D investments. From 2014 to 2023, AbbVie consistently allocated substantial resources, with R&D expenses peaking at approximately $10 billion in 2018, reflecting a robust growth strategy. In contrast, Iovance Biotherapeutics, a smaller player, showed a steady increase in R&D spending, reaching around $344 million by 2023, marking a significant 127-fold increase from 2014. This divergence highlights the scale and ambition of AbbVie's operations compared to Iovance's focused, yet rapidly growing, efforts. As the biotech landscape evolves, these investment patterns offer insights into each company's future potential and strategic priorities.
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