Exelixis, Inc. or MannKind Corporation: Who Manages SG&A Costs Better?

Exelixis vs. MannKind: A Decade of SG&A Management

In the competitive landscape of biotechnology, managing Selling, General, and Administrative (SG&A) expenses is crucial for financial health. Over the past decade, Exelixis, Inc. and MannKind Corporation have demonstrated contrasting approaches to SG&A cost management. From 2014 to 2023, Exelixis saw a staggering 967% increase in SG&A expenses, peaking in 2023. This reflects their aggressive expansion and investment in operational infrastructure. In contrast, MannKind's SG&A expenses grew by only 19% over the same period, indicating a more conservative financial strategy.

Exelixis's significant rise in SG&A costs, particularly from 2020 onwards, suggests a strategic pivot towards scaling operations, possibly to support new product launches or market expansions. Meanwhile, MannKind's steadier expense trajectory may highlight a focus on maintaining operational efficiency amidst market challenges. This analysis provides a window into how these companies prioritize growth and efficiency in a rapidly evolving industry.