A Comparative Analysis of SG&A Expenses: Novartis AG vs. Bristol-Myers Squibb

In the competitive landscape of the pharmaceutical industry, understanding the financial strategies of leading companies is crucial. This analysis delves into the Selling, General, and Administrative (SG&A) expenses of Novartis AG and Bristol-Myers Squibb Company from 2014 to 2023.

Key Insights

Over the past decade, Novartis AG consistently allocated a higher percentage of its revenue to SG&A expenses compared to Bristol-Myers Squibb. In 2023, Novartis's SG&A expenses were approximately 12.5 billion USD, marking a 17% decrease from its peak in 2018. Conversely, Bristol-Myers Squibb's expenses peaked in 2022 at around 7.8 billion USD, reflecting a 72% increase from 2014.

Strategic Implications

These trends highlight differing strategic priorities: Novartis's focus on cost efficiency and Bristol-Myers Squibb's investment in market expansion. Understanding these dynamics offers valuable insights into their market positioning and future growth trajectories.