Here's the actual data: http://endpts.com/which-big-biopharma-companies-put-rd-as-their-top-priority/ http://endpts.com/which-big-biopharma-companies-put-rd-as-

Here's the actual data: http://endpts.com/which-big-biopharma-companies-put-rd-as-their-top-priority/ http://endpts.com/which-big-biopharma-companies-put-rd-as-th... SG&A is perhaps a broader category than most people understand it to be. Also, I assume that "R&D" does not include depreciation on all the assets necessary to actually perform the R&D. So I think it's an interesting metric but perhaps not incredibly meaningful. Most companies spend a lot less on R&D as a percentage of revenue than pharma. Here's a similar chart for the big tech companies: https://www.theatlas.com/charts/N1Gs8E4v https://www.theatlas.com/charts/N1Gs8E4v