Catalent, Inc. or Xencor, Inc.: Who Manages SG&A Costs Better?

Catalent, Inc. vs. Xencor, Inc.: A Decade of SG&A Management

In the competitive landscape of the pharmaceutical industry, managing Selling, General, and Administrative (SG&A) expenses is crucial for maintaining profitability. Over the past decade, Catalent, Inc. has consistently outperformed Xencor, Inc. in managing these costs. From 2014 to 2023, Catalent's SG&A expenses grew by approximately 179%, while Xencor's increased by about 615%. Despite this, Catalent's expenses remain significantly higher, reflecting its larger operational scale. Notably, in 2023, Catalent's SG&A expenses were nearly 16 times those of Xencor. However, the data for 2024 is incomplete, leaving room for speculation on future trends. This analysis highlights the importance of scale and efficiency in SG&A management, offering valuable insights for investors and industry analysts alike.

Key Insight: Catalent's SG&A expenses are 16x higher than Xencor's in 2023.