| __timestamp | Amgen Inc. | Iovance Biotherapeutics, Inc. |
|---|---|---|
| Wednesday, January 1, 2014 | 4297000000 | 2704597 |
| Thursday, January 1, 2015 | 4070000000 | 15470000 |
| Friday, January 1, 2016 | 3840000000 | 28037000 |
| Sunday, January 1, 2017 | 3562000000 | 71615000 |
| Monday, January 1, 2018 | 3737000000 | 99828000 |
| Tuesday, January 1, 2019 | 4116000000 | 166023000 |
| Wednesday, January 1, 2020 | 4207000000 | 201727000 |
| Friday, January 1, 2021 | 4819000000 | 259039000 |
| Saturday, January 1, 2022 | 4434000000 | 294781000 |
| Sunday, January 1, 2023 | 4784000000 | 344077000 |
| Monday, January 1, 2024 | 5964000000 |
Cracking the code
In the ever-evolving world of biotechnology, research and development (R&D) spending is a key indicator of a company's commitment to innovation. Over the past decade, Amgen Inc. and Iovance Biotherapeutics, Inc. have demonstrated contrasting approaches to R&D investment. From 2014 to 2023, Amgen consistently allocated a significant portion of its resources to R&D, with expenditures peaking at nearly $4.8 billion in 2021. This represents a steady increase of approximately 12% from 2014. In contrast, Iovance Biotherapeutics, a smaller player in the industry, has shown a remarkable growth trajectory in its R&D spending, skyrocketing from a modest $2.7 million in 2014 to over $344 million in 2023, marking an exponential increase of over 12,000%. This stark difference highlights the diverse strategies employed by established giants and emerging innovators in the biotech sector.
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