SG&A Expenses: A Tale of Two Biotech Giants

In the dynamic world of biotechnology, understanding financial trends is crucial. This article delves into the Selling, General, and Administrative (SG&A) expenses of two prominent players: Genmab A/S and Merus N.V., from 2014 to 2023.

Genmab A/S: A Steady Climb

Genmab A/S has shown a remarkable increase in SG&A expenses, growing from approximately $80 million in 2014 to a staggering $3.3 billion in 2023. This represents a growth of over 4,000%, reflecting the company's aggressive expansion and investment in administrative capabilities.

Merus N.V.: A Modest Rise

In contrast, Merus N.V. experienced a more modest increase, with SG&A expenses rising from around $3.9 million in 2014 to nearly $60 million in 2023. This growth, while significant, is dwarfed by Genmab's trajectory, highlighting different strategic approaches within the biotech sector.

These trends underscore the diverse strategies employed by biotech companies in managing operational costs, with Genmab's rapid expansion contrasting with Merus's more conservative growth.