Comparing SG&A Expenses: Merck & Co., Inc. vs Xencor, Inc. Trends and Insights

SG&A Expenses: A Tale of Two Companies

In the world of pharmaceuticals, the Selling, General, and Administrative (SG&A) expenses are a critical measure of a company's operational efficiency. Over the past decade, Merck & Co., Inc. and Xencor, Inc. have shown contrasting trends in their SG&A expenses.

Merck & Co., Inc.: A Steady Giant

From 2014 to 2023, Merck's SG&A expenses have fluctuated modestly, with a peak in 2014 and a slight dip in 2020. Despite these fluctuations, Merck's expenses have remained relatively stable, averaging around $10 billion annually. This stability reflects Merck's robust market position and efficient cost management strategies.

Xencor, Inc.: A Rising Contender

In contrast, Xencor's SG&A expenses have seen a dramatic increase, growing by over 600% from 2014 to 2023. This surge indicates Xencor's aggressive expansion and investment in its operational capabilities. As a smaller biotech firm, Xencor's rising expenses highlight its commitment to growth and innovation.