Comparing SG&A Expenses: Eli Lilly and Company vs Neurocrine Biosciences, Inc. Trends and Insights

A Decade of SG&A Trends: Eli Lilly vs. Neurocrine Biosciences

In the ever-evolving pharmaceutical landscape, understanding the financial strategies of industry giants is crucial. Over the past decade, Eli Lilly and Company and Neurocrine Biosciences, Inc. have showcased distinct trajectories in their Selling, General, and Administrative (SG&A) expenses.

Eli Lilly, a stalwart in the industry, has consistently maintained high SG&A expenses, averaging around $6.4 billion annually. This reflects their robust investment in marketing and administrative functions, crucial for sustaining their market leadership. Notably, their SG&A expenses peaked in 2023, marking a 5% increase from 2014.

Conversely, Neurocrine Biosciences, a dynamic player, has demonstrated a remarkable growth trajectory. From a modest $18 million in 2014, their SG&A expenses surged by nearly 4,800% to $888 million in 2023. This exponential rise underscores their aggressive expansion and strategic investments in market penetration.

These trends highlight the contrasting strategies of established and emerging pharmaceutical companies, offering valuable insights into their operational priorities.