SG&A Expense Trends: A Tale of Two Companies

In the world of pharmaceuticals, Johnson & Johnson and MorphoSys AG stand as giants, albeit on different scales. Over the past decade, their Selling, General, and Administrative (SG&A) expenses have painted a vivid picture of their operational strategies. Johnson & Johnson, a behemoth in the industry, consistently reported SG&A expenses averaging around $21 billion annually. However, a notable dip of approximately 10% was observed in 2022, reflecting potential cost optimization or strategic shifts.

Conversely, MorphoSys AG, a smaller player, showcased a dramatic rise in SG&A expenses, surging by over 1,900% from 2014 to 2021. This increase underscores their aggressive expansion and investment in market presence. The contrasting trends between these two companies highlight the diverse approaches within the pharmaceutical sector, where scale and strategy dictate financial trajectories.