Bristol-Myers Squibb Company or Catalent, Inc.: Who Manages SG&A Costs Better?

SG&A Cost Management: Bristol-Myers Squibb vs. Catalent

In the competitive landscape of the pharmaceutical industry, managing Selling, General, and Administrative (SG&A) expenses is crucial for maintaining profitability. From 2014 to 2023, Bristol-Myers Squibb Company (BMY) and Catalent, Inc. (CTLT) have shown distinct approaches to handling these costs.

Bristol-Myers Squibb, a giant in the pharmaceutical sector, has consistently reported higher SG&A expenses, peaking at approximately $7.8 billion in 2022. This reflects their expansive operations and significant market presence. In contrast, Catalent, a key player in drug development and delivery, has maintained a leaner SG&A structure, with expenses reaching around $935 million in 2024.

Despite the disparity in absolute numbers, Catalent's strategic cost management highlights their efficiency, with SG&A expenses growing by about 180% over the decade, compared to Bristol-Myers Squibb's 36% increase. This comparison underscores the importance of efficient cost management in sustaining competitive advantage.