Genmab A/S or Ionis Pharmaceuticals, Inc.: Who Manages SG&A Costs Better?

Managing SG&A Costs: Genmab A/S vs. Ionis Pharmaceuticals, Inc.

In the competitive world of biotechnology, managing Selling, General, and Administrative (SG&A) expenses is crucial for maintaining profitability. Over the past decade, Genmab A/S and Ionis Pharmaceuticals, Inc. have demonstrated contrasting approaches to SG&A cost management. From 2014 to 2023, Genmab A/S saw a staggering increase in SG&A expenses, rising by over 4,000%, while Ionis Pharmaceuticals, Inc. managed a more modest increase of around 1,000%.

Genmab's expenses surged from approximately $80 million in 2014 to nearly $3.3 billion in 2023, reflecting its aggressive expansion and investment in administrative capabilities. In contrast, Ionis Pharmaceuticals maintained a more controlled growth, with expenses peaking at $354 million in 2020 before stabilizing. This comparison highlights the strategic differences in cost management between the two companies, offering valuable insights for investors and industry analysts alike.