Operational Costs Compared: SG&A Analysis of Johnson & Johnson and Bristol-Myers Squibb Company

A Decade of SG&A: Johnson & Johnson vs. Bristol-Myers Squibb

In the ever-evolving pharmaceutical industry, operational efficiency is key. Over the past decade, Johnson & Johnson and Bristol-Myers Squibb have showcased contrasting strategies in managing their Selling, General, and Administrative (SG&A) expenses. From 2014 to 2023, Johnson & Johnson consistently maintained higher SG&A expenses, averaging around 21 billion annually, nearly three times that of Bristol-Myers Squibb. Notably, Bristol-Myers Squibb saw a significant spike in 2020, with expenses rising by over 50% compared to 2019, reflecting strategic shifts or market adaptations. Meanwhile, Johnson & Johnson's expenses remained relatively stable, with a slight dip in 2022. This analysis highlights the diverse approaches these giants take in navigating operational costs, offering insights into their financial strategies and market positioning. As the industry continues to face challenges, understanding these trends is crucial for stakeholders and investors alike.