Merck & Co., Inc. and Novavax, Inc.: SG&A Spending Patterns Compared

A Tale of Two Pharma Giants: Merck & Co., Inc. vs. Novavax, Inc.

In the ever-evolving pharmaceutical landscape, understanding spending patterns can offer valuable insights into a company's strategic priorities. Over the past decade, Merck & Co., Inc. and Novavax, Inc. have demonstrated contrasting approaches in their Selling, General, and Administrative (SG&A) expenses. From 2014 to 2023, Merck's SG&A expenses have consistently hovered around $10 billion annually, reflecting a stable investment in marketing and administrative functions. In contrast, Novavax's spending, while significantly lower, has shown a dramatic increase, particularly from 2020 onwards, with a peak in 2022 at nearly $490 million. This represents a staggering 2,350% increase from 2014, highlighting Novavax's aggressive push in recent years, likely driven by its COVID-19 vaccine efforts. These spending patterns not only reflect each company's market strategy but also their response to global health challenges.