Amgen Inc. or MorphoSys AG: Who Manages SG&A Costs Better?

Amgen Inc. vs. MorphoSys AG: A Decade of SG&A Management

In the competitive world of biotechnology, managing Selling, General, and Administrative (SG&A) expenses is crucial for maintaining profitability. Over the past decade, Amgen Inc. and MorphoSys AG have demonstrated contrasting approaches to SG&A cost management. From 2014 to 2023, Amgen's SG&A expenses have consistently been higher, averaging around $5.3 billion annually. In contrast, MorphoSys AG's expenses have been significantly lower, averaging approximately $67 million per year.

Despite Amgen's larger scale, its SG&A costs have grown by about 31% over the decade, peaking in 2023. Meanwhile, MorphoSys AG saw a more dramatic increase, with expenses rising by over 850% from 2014 to 2021, before stabilizing. This data highlights the strategic differences in cost management between a biotech giant and a smaller, agile competitor. Understanding these trends can provide valuable insights for investors and industry analysts alike.